• Mon. May 23rd, 2022

Fort Portal City: A Hot Spot for Land and Property Investment

UGANDA, Fort Portal | Real Muloodi News | Fort Portal, once the main town of Kabarole District, was elevated to city status on 1st July 2020. Known as ‘the Tourism Capital of Uganda‘, entrepreneurs and investors have been flocking to Fort Portal to explore the potential this new city has to offer.

Located about 290km from Kampala, Fort Portal is connected by tarmac road from Kyenjojo, Kamwenge, Kasese and Bundibugyo districts.

The distinction of ‘City’ is important from an investment perspective; it means that Fort Portal has an integrated City Development Plan for the provision of infrastructure, including roads, street lighting, markets, fire stations, and waste management. It also demonstrates that the city has the capacity to generate sufficient revenue to deliver essential services to its residents. This makes it highly desirable for land and property investment, ensuring good returns for your money.

Owning land in Fort Portal is still fairly affordable compared to cities like Kampala. However, land here is quickly increasing in value. Therefore, now is the best time to invest in this incredible part of Uganda.

According to Fort Portal City Senior Physical Planner, Mr Samuel Musana, city authorities are in the final stages of zoning the city. However, most areas of the Northern Division which was annexed to the city is now a hub for residential developments, hotels and other such accommodation facilities.

Fort Portal City Town Clerk, Mr Theophilus Tibihika, adds that areas just a few kilometres out from the Fort Portal city centre have many undeveloped plots, and are therefore are attracting many investors. He said it takes about three weeks to have building plans approved by the city authorities.

Alex Ashaba recently profiled some of the areas of Fort Portal that are worth investing in.

Kagote

Kagote is a fast-growing area, boasting many residential and commercial investment opportunities. Its close proximity to Fort Portal’s city centre has played a key role in its rapid growth, with the population in this area steadily increasing.

Kagote lies along the Kabundaire–Kagote Ssaka Road, neighbouring Kichwamba Sub-County which houses Saaka Airfield.

The area has vacant plots of land suitable for residential housing and hotel developments.

Amenities

The Kagote area has many government institutions such as a police post (Kagote police station), Mountains of Moon University and Mountain Division Headquarters (UPDF). The security is top-notch with Mountain Division Army Barracks and Muhooti just in close proximity from the different trading centres. There are social amenities like numerous places of worship, many primary schools and health care centres including the Kagote health centre III.

Utilities

These range from electricity to water.

Land Prices

The cost of land in Kagote varies depending on the size of the plot and its proximity to the road network.

A resident of the area, Mr Joseph Asiimwe, says a 50×100ft plot of land currently sells for between USh30m to USh50m. However, others slightly off Kagote-Ssaka road can go for as low as USh10m to USh20m, he says.

Rwengoma and Kahungabunyoyi

These two places in the Central division are next to one other and are just a few meters away from the city on the Fort Portal-Bundibugyo route.

Vacant plots of land in these areas can be used for residential and rental homes and small commercial companies. Many city people live there because both areas are close to the city centre, qualifying them for investment in rental properties.

Amenities

FINZ Medical University is located in this neighbourhood, and entrepreneurs are investing in hostels and rental homes to take advantage of various benefits. In these areas, there is a Lorry Park police station that performs night inspections to strengthen the security of locals.

Land Prices

Land prices in these two places have risen recently. Land of 100ft by 100ft beside the road is worth USh150 million and USh250 million. Other identical pieces of land in the same localities, farther from the road, can cost USh20 million and USh50 million.

Butangwa Zone

This zone has seen considerable development, with various opulent private homes and business constructions visible. Because many people who work in the city live here, it still provides inexpensive plots for investment, primarily for residential dwellings.

It is conveniently accessible, and the region’s geography has transformed this previously peaceful neighbourhood into one of the most attractive locations to live. It is a short walk from the city centre, and a boda boda costs approximately USh1,000. Retail shops, small hotels, and restaurants, among other companies, are the most profitable in this region. Power and electricity are available in the area.

Land Prices

Because there are still plots available for development, there is a scramble for plots in the neighbourhood.

The cost of land has risen marginally due to the rush of investors looking to build new developments in the region. According to Mr Gonya Nyakairu, the area chairman, a 50 by 100ft site along the main road suited for commercial purposes costs between USh30 million and USh45 million, while a similar plot three kilometres away costs between USh15 million and USh30 million.

Booma

Booma is associated with the wealthy and is a popular location for private homes and hotels. The neighbourhood is roughly a half-kilometre west of town, near Mpanga market.

Booma has drawn several investors who have built residential homes and hotels in a tranquil setting.

It also serves as the administrative headquarters of the Fort Portal tourism city, the Central Police Station of Fort Portal, the High Court grounds, the Toro Golf Club course, and the State Lodge, among other things.

Power, water, and access roads are all available in the Booma region.

Land Prices

Because this region is popular with the wealthy, land here is more expensive than in other parts of Fort Portal.

A 50-by-100-foot plot is worth between USh150m and USh200m or more. Other plots of 100 by 100 feet might be purchased for USh300 to USh500 million.

Kasusu and Muchwa

With a population of over 1000 people, is a prime location outside of Fort Portal’s city centre. It is located around 2 kilometres along the Fort Portal-Kasese route in the Central division.

The cost of a boda-boda journey from Fort Portal town is between USh1,500 and USh2,000.

Because of the developing commerce centre of Kasusu and Kachwamba, the Kasusu suburb is appropriate for commercial business houses and hotels.

Kasusu has good access to power and water and various institutions such as Uganda Pentecostal University, Virika Hospital, Virika School of Nursing, Uganda Martyrs University Fort Portal Campus, St Joseph’s Technical Institute, and the Fort Portal Catholic Diocese offices.

Land Prices

From 2019 until the present, the price of land has risen marginally.

Hon Irene Mugisa, a Fort Portal city citizen and female MP, claims a 50 by 100ft property adjacent to the road that was formerly priced at USh10m and USh15m has now been raised to USh40m.

Mugoma

This region borders Kogote and is 2.5 kilometres west of Fort Portal’s city centre. A boda-boda ride costs between USh1,500 and USh2,000.

Mugoma may be reached by deviating from the Fort Portal-Bundibugyo route near Kisenyi. FINZ Medical University partially bounds it.

Because it is located in a calm neighbourhood, this property is perfect for private homes and hotel companies.

Several investors have built rental homes, while others have purchased property to build hotels.

Land Prices

Mugoma’s land prices have not yet risen in comparison to other places.

Mr Didas Kateeba, a local who just purchased a 50ft by 100ft plot, says the price varies between USh 8m and USh15m depending on location. He claims that the identical site and the primary road cost between USh10m and USh20m.

Buteebe

Buteebe is located approximately 1.5 kilometres from the city centre in the north division of Fort Portal tourism city and on the Fort Portal-Bundibugyo route.

The cost of a boda-boda ride is USh1,500. The Buteebe trading hub is located in the region, making it an excellent spot to invest in commercial properties for business. There are several plots of land that have yet to be developed. It has SOS Children’s Villages, secondary and elementary schools, and other institutions.

Land Prices

According to a Buteebe local, Chris Amanyire, many individuals are pouring into the region to buy plots of land for long term investment. He claims that a regular plot of 50ft by 100ft along the central road is now over USh50 million, up from USh30 million a few years ago.

“There is someone selling a plot with land title with a house, and he wants USh250 million and there are other plots but the price depends on size and where it is located,” he says.

Bukuku and Karago

These two places are in the North Division, and Karangura Sub-county has several undeveloped plots adjacent to the Mount Rwenzori ranges. Because of the increasing commerce centre of Karago, these locations are well suited for tourism investments in hotels and commercial houses for rental business.

The tarmac road between Fort Portal and Bunibugyo is around 6 kilometres away. A boda-boda ride costs between USh2,000 and USh3,000.

Land Prices

Mr Yonah Masereka, a resident of the region, says that for the previous ten years, many people have been hesitant to buy land in Bukuku because it is underdeveloped. Still, now that the area has been annexed by Fort Portal city, many investors are racing to obtain plots of land for investment.

According to Mr Masereka, a 50ft by 100ft plot costs between USh8m and USh10m in some regions not along the road, compared to USh4m and USh6m in prior years.

A similar property along the road in the same region may be purchased for more than USh25m.

About Fort Portal Tourism City

Fort Portal has been designated a tourism city for a reason; it is a destination touting many tourist attractions in the Rwenzori region.

Fort Portal is home to some of Uganda’s most spectacular nature destinations, including Kibale National Park located in Kamwenge, Kabarole and Kyenjojo districts, Queen Elizabeth National Park, Mount Rwenzori and its ranges in Kasese district and Kabarole districts, Semuliki National Park in Bundibugyo district and Tooro Semliki Game reserve in Ntoroko district and Sempaya Hot springs in Bundibugyo district.

Fort portal is also a gateway to over 50 crater lakes both in Kabarole and Bunyangabu district, Amabere Ga Nyina Mwiru (stalagmites and stalactites) in Nyakasura.

The cultural tombs sites (Amagasani) of Tooro Kingdom past kings and the palace of Karuziika is also found in Fort Portal.

READ MORE LIKE THIS:

Buvuma Island is the Next Huge Real Estate Opportunity

Busia the Next Hot Spot for Land and Property Investment as Residents Welcome Transboundary Water Project