UGANDA, Kampala | Real Muloodi News | On Thursday 3rd, November, the Housing Finance Bank Executive Director, Peace K. Ayebazibwe, officiated the launch of a book on real estate at the Fairway Hotel, titled “Condominium Real Estate: Ugandan Grip”.
Frankina Apio, a real estate expert with Fakhruddin Properties, wrote the book as a guide for prospective condominium investors.
“This book is my contribution to the real estate industry and for those who want to establish themselves in the condominium business,” Apio said.
The Housing Finance Bank Executive Director endorsed the book and praised Apio for standing out and authoring a book on real estate in a male-dominated industry.
During the book’s endorsement, Ayebazibwe urged developers, particularly those in the condominium industry, to embrace eco-friendly and economical materials to lower prices and, eventually, make house ownership accessible.
To lower overall expenses and make the units accessible for people who need them, she continued, the cost of the materials must be reduced.
According to Ayebazibwe, the average price of a single-bedroom apartment in Uganda is currently projected to be sh85 million, making it out of many people’s price range who require excellent, affordable housing.
“The construction of expensive condos will not solve the housing problem in the country because, at the moment, the cheapest goes for about USh85 million, yet so many Ugandans can’t raise that kind of money to buy a house,” she said.
The Uganda Bureau of Statistics (UBOS) estimates that the country’s urbanisation pace is 5% per year, with Kampala alone expected to house 10 million people by 2050. This is predicted to bring the housing gap to 2.5 million units, with Kampala accounting for the lion’s share of the shortfall.
The yearly demand for new houses is anticipated to be 200,000 units per year, whereas the production pace of moderately excellent dwellings is estimated to be 60,000 units.
Investment in the real estate sector is also prohibitively expensive due to a lack of adequate infrastructure and a high cost of financing.
Ayebazibwe prompted Apio to publish additional books to educate the people.
About the Book
Apio’s book, Condominium Real Estate Ugandan Grip, offers the most sought information about the acquisition and maintenance of housing property under a condominium. The condominium business is a relatively new venture in Uganda, so many people have embraced it well.
This business is spreading fast in Uganda, especially in the capital city of Kampala, and neighbouring towns, hence the need to offer information that will establish a strong value-for-money proposition for both individual owners and Investors.
How to Access a Copy
Apio’s book is available at Uganda Bookshop, opposite Christ the King Church in Kampala City at only USh50,000, or you can purchase a digital copy for on Amazon for USD $9.99 which you can then read on your mobile device with the Kindle App.
About the Author, Frankina Apio
Apio Frankina is a Ugandan woman with a Master’s degree in Business Administration from Uganda Management Institute and a Bachelor’s degree in Community Psychology from Makerere university.
Apio joined the real estate sector five years ago and has since done hands-on operations and coordination works for one of the leading condominium developers in Uganda. Under her personal company The Business Empire International Company Ltd., she offers condominium management services. She is well-trained in what she does, with experience in both customer service and management.
Apio is also well versed with the contents of The Condominium Act 2001, which govern the operation of condominium properties in Uganda and has also previously worked in customer service in both the telecom and banking sectors.
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