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Housing sector is engine for economic growth

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Housing sector is engine for economic growth

The housing delivery infrastructure in Uganda, as in most developing regions in the world, is woefully underdeveloped. Not enough new homes are being built each year to meet current needs. As Uganda is projected to have the fastest population growth in the world over the next quarter century, radical changes are needed. Rapid urbanization, in the absence of adequate and affordable housing, is feeding the growth of large urban slums. In the case of Uganda there has been no large-scale organised real estate development in the last 30 years. Private developers have been putting up houses in single units or in small batches while the government owned developer National Housing and Construction Co. (NHCC) has built not more than 2,500 housing units in the last 30 years.
A study called `Strategies for facilitating the financing of affordable housing in Uganda’ by the former executive director of the Private Sector Foundation Uganda, Dr William Kale…