The president of the Republic of Uganda, Yoweri Museveni has recently launched the Royal Palms housing estate ; comprising of 1, 400 units.
291 acres of land at Butabika were leased to investors; out of which, the housing project occupies150 acres of the hospital land woth$115 million. The proprietors of the project are: Nation Wide Properties Ltd, a Ugandan joint venture company between Mukwano Group of Industries and Property Services Ltd (PSL).
It is one of the largest projects undertaken since the push for investment launched by the government and Uganda Investment Authority. There will be integrated shopping and leisure facilities established on 1o acres, the 35 acres are wetlands whereas a maternal and child health care hospital will be built on another 10 acres.
Pradip Karia of PSL explained that the housing units will range in size from two-to-four-bedroom detached and semi-detached houses and maisonettes. He said the estimated cost will range from Shs80 million for a two-bedroom unit to Shs245 million for a four-bedroom detached home.
Real estates proprietors are usually challenged by the high cost of land and building materials, uncontrolled growth of slums and insufficient financing for mortgages as pointed out by the Minister of lands, Omara Atubo.
A Ministry of Works status report forecasts an annual need for new housing at 377,000 units by 2020.