Real estate leaders in Uganda are urging the government to enhance infrastructure in urban areas to boost the growth of the industry. At this year’s Homes and Gardens exhibition held at Sheraton Hotel, Edwin Musiime, Chairman of Olim Group and the event’s organizer, emphasized that while Uganda’s real estate sector is on an upward trajectory, the infrastructure supporting housing projects is severely lacking.
Musiime highlighted the significant housing deficit facing the country, which stands at 2.4 million units, with nearly 1.4 million of these needed in rural regions. He noted, “Currently, Uganda requires approximately 200,000 new housing units each year. Unfortunately, only a small portion of this demand is being fulfilled, leading to overcrowded urban environments and an increase in informal settlements.”
In response, Lands and Housing Minister Persis Namuganza encouraged real estate developers to explore sustainable housing solutions, such as green buildings using eco-friendly materials, to combat climate change. She committed to supporting the private sector in addressing the housing deficit and developing regulatory policies for the real estate industry.
Namuganza pointed out that the housing crisis is particularly severe in urban areas, where the high cost of land and construction materials poses significant barriers. This has resulted in widespread informal settlements characterized by poor living conditions, inadequate services, and heightened vulnerability to environmental risks.
“The Ugandan government recognizes the housing crisis and is implementing strategies to tackle it. We are building partnerships with private developers to increase the supply of affordable housing,” she explained. These collaborations aim to attract investment through incentives such as tax breaks and improved access to land.
Moreover, the minister emphasized the importance of investing in infrastructure—such as roads, water supply, and electricity—in underdeveloped areas. “By enhancing infrastructure, we aim to stimulate housing development beyond overcrowded urban centers,” Namuganza added.
According to the Ministry of Lands and Housing, Uganda’s real estate market is projected to reach a value of $365.6 billion by 2024. Residential real estate is anticipated to dominate the market, with a projected volume of $329.2 billion. This segment is expected to grow at an annual rate of 7.07% from 2024 to 2029, potentially reaching $514.4 billion by 2029.
In a global context, the United States is set to lead the real estate market with an estimated value of $132 trillion in 2024.
