UGANDA, Mukono | Real Muloodi News | Authorities in Mukono Municipality have advised Ugandans to begin saving for land and invest in homeownership, as rental prices in the greater Kampala area continue to rise.
The call was made during the launch of the Uganda People’s Defence Forces (UPDF) Wazalendo estate, a 54-acre real estate project in Namayiba, Mukono District.
Mukono Municipality Mayor Erisa Mukasa Nkoyoyo urged residents to shift focus from paying rent to owning homes.
“It is very expensive to rent a house in Mukono,” he said. “Take advantage of the estates being established here. Save some money and buy a plot of land.”
Nkoyoyo recounted his own experience with homeownership, explaining how land inherited from his parents enabled him to build a home in 1992.
“If no one has given you land, buy yours and become a homeowner. You can then redirect your rent toward school fees and other needs,” he added.
In Mukono Municipality, rent for a single room ranges from USh100,000 to USh300,000, while a double room exceeds USh300,000. Authorities argue that these amounts could be saved and redirected toward purchasing land for homeownership.
Wazalendo Savings and Credit Cooperative Organisation (SACCO), the financial institution behind the estate, has ventured into real estate to support its members’ long-term welfare.
Speaking at the launch, Brig. Gen. Joseph Freddy Onata, Chief Executive Officer of Wazalendo SACCO, noted that the cooperative is now running three core projects: Wazalendo SACCO, Wazalendo Investments Limited (WIL), and the army shop.
“These initiatives will greatly improve our members’ lives,” said Brig. Gen. Onata. “In Matugga, we sold over 400 plots—38% to our members and 62% to the general public. In Namayiba, plots are priced at USh18 million for members and USh20 million for non-members.”
The Namayiba estate follows the development of two other Wazalendo projects—one in Matugga, Wakiso District, and another in Bulamu along Mityana Road. Wazalendo SACCO also commissioned road construction equipment valued at USh4 billion to aid estate development.
Col Dan Tuzihwayo, advocate of the High Court and Board Secretary of Wazalendo SACCO, represented the SACCO’s Board Chairperson, Lt. Gen. Sam Kavuma. He explained that moving into real estate protects members from fraudulent land deals.
“Selling land is lucrative, and many of our members have been manipulated by fraudulent land dealers. This initiative ensures they can now buy genuine land at affordable prices,” he said.
Wazalendo SACCO operates under the Ministry of Defence and Veterans Affairs and the UPDF. It enables members to save collectively and access credit to finance investments such as homeownership.
Through its real estate expansion, the SACCO aims to offer secure and affordable land acquisition opportunities to its members and the public.
READ MORE LIKE THIS:
