Find visitors' favorite businesstravel Hotels And.... Book your best!

Uganda Mortgage attracts sh40b more...

Monday July 4, 2011

KCB Uganda has launched a new $15m (about sh40.5b) mortgage financing facility.

Albert Odongo, the managing director, noted at the launch at the Sheraton Kampala Hotel last week that the product would boost efforts to close the fast-growing housing deficit.

“We found out that introducing housing support financing facilities is one of the best ways of enabling more people access decent shelter in tandem with the fast-growing population and urbanisation trends,” he said.

A recent national housing survey unearthed a housing deficit of over 550,000 units, with Kampala alone having a shortfall of 100,000 houses.

Given a rapid rate of urbanisation, it is estimated that the housing shortage will hit eight million units, of which 2.5 million will be in urban centres. Kampala alone will need one million units.

The survey indicated that 87% of houses in rural areas were owner-occupied, while 49% in urban areas were rented.

“We have also realised that many people do not access mortgage facilities because of the cost involved. But our partnership with property developers will enable many Ugandans to own homes at competitively negotiated rates. Home ownership is one of the best financial investments that one can invest in,” Odongo observed.

“Despite the challenges in the construction sector, we are happy that the sector grew by 10.5% and accounted for 12.6% of gross domestic product,” Dr. Louis Kasekende, the deputy governor of the Central Bank, said in a speech read by Patrick Byabakama, the bank’s executive director for operations.

The increasing demand for housing is making the mortgage one of the lucrative sectors for financial institution to spread their nets.

Indeed, many commercial banks have now started mortgage departments to handle home financing and ownership.

By David Ssempijja: The New Vision Newspaper

Click here to post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Great Uganda Real Estate Listings.

Haven't yet found what you Want...?

If you haven't yet found what you were looking for or you need detailed information about the subject matter on this page


feel free to ask our business travel consultants.

Farmland for Sale
Prime Commercial Property
Entebbe Rd Land 4 Sale
Over 20 Farmland Parcels
Property & Plots of Land

Uganda Online SuperMarket
Online SuperMarket

Uganda Coffee Safari
Book My Coffee Tour

Uganda Honey
Uganda HoneyComb

Subscribe to our Business Travel Newsletter

Enter Your E-mail Address
Enter Your First Name (optional)

Don't worry — your e-mail address is totally secure.
I promise to use it only to send you Africa Uganda Business Travel News Digest.

Hotel Booking

Car RentalCar Hire

Africa Uganda Shipping & Handling ServicesShipping & Handling Services

Our Sponsorship Policy

Apple Guavas available
Africa Uganda Plants GuideAfrica Plants Guide

Charity Investment Guide
Changing Lives

Africa Uganda SMS Guide
Africa Bulk SMS

Poultry Investment Guide
Poultry Business Guide

Related Pages

Uganda Hotels Directory

Uganda Hotels Booking Guide

Houses U can buy Uganda Real Estate Guide Industrial/Farmland Deals

Uganda Real Estates Guide

The Mountain Gorilla

Uganda Safari Guide

Uganda Weather Today

Book My Hotel

Please note that all fields followed by an asterisk must be filled in.

Please enter the word that you see below.


Uganda Currency