BUKOTO – As Uganda struggles to bridge the deficit of two million housing units, Ruparelia Group of Companies has embarked on development of low cost houses for the middle income earners. According to Rajive Ruparelia, the Group’ Managing Director, the initiative is in advanced stages of procurement.
“There are new apartments of 260 units coming up at Kabira Country Club in Bukoto for the middle income class. We are looking for more land to acquire to developed more apartments for this cliental,” he said.
Speaking during Sanyu FM sports programme, Saturday February 8, 2020, Rajiv, said the move is to address accommodation demands.
He however did not range of the cost of the housing units but promised that they will be afforderable.
Managed under Crane Management Service (CMS), a subsidiary firm of the group, owns several buildings, apartments and hotels among other assets. Business tycoon Sudhir Ruperelia, one of the richest on the African continent according to the Forbes Magazine, is proprietor of the group.
Last week, International Real Estate Federation (FIABCI) professionals on a three days visit told government to provide land to players in the housing sector to build low cost houses.
According to FIABCI President for African Chapter, Joseph Akhigbe, Uganda like many African countries still has opportunities for foreign direct investment.
“Government needs to ensure, legislation, security and provide land to firms in the real estate business to build houses for the less privileged people,” he said.