The National Social Security Fund (NSSF) has released new prices for its housing projects in and around Kampala.The new rates that were disclosed at the weekend are in three categories. The first category is for high income earners whose houses are in the range of Shs400m and above. They are situated within five kilometres from the capital city centre in the areas of Mbuya and Lubowa.
According to the Fund, this category has 40 units, which have already been sold out.The second category is for middle-income earners whose prices range from Shs200m to Shs399m. The houses are 13 kilometres away from the city centre in Kyanja and 17 kilometres further in Temangalo, Wakiso District.The units will be ready in June 2023 and 2024 in Kyanja and Temangalo, respectively.
The last category is the ‘affordable one’, whose houses cost below Shs200m and they are in Kyanja and Temangalo.Mr Richard Byarugaba, the managing director of the Fund, last evening defended the high cost of the houses, citing the price of land.“The cost of infrastructure and land are expensive. There are other problems that come with regulators such as the National Environment Management Authority, and also problems in procurement. So that cost must be borne by the customer who is going to buy the house,” Mr Byarugaba said.President Museveni launched the housing projects at Lubowa, Wakiso District, last Thursday.
Mr Museveni later visited the Solana Lifestyle and Residences, NSSF’s Lubowa housing project.The self-sustaining satellite city and commercial development project covers approximately 600 acres of the Fund’s land. .
The head of State appreciated the growth of the Fund to Shs17 trillion since its establishment in 1985.NSSF aims at providing 50 percent of Ugandans living in urban areas with decent and affordable housing by 2050.
Real Estate ventureReal estate is only seven percent of the Fund’s investment portfolio. NSSF established the Fund’s real estate strategy to establish a national footprint. To achieve this, it has embarked on a deliberate plan to ensure that all the housing and commercial projects are implemented by 2025.