Beyond the policy challenges, the interview explores a sector in the midst of a structural evolution, driven by shifting tenant behaviours and the rise of decentralised, convenience-led suburban retail. Addressing the rising tide of foreclosures and “speculative development,” the discussion highlights the urgent need for professional valuation standards and consistent urban enforcement to protect long-term asset value. Despite these pressures, the CEO maintains an outlook of “cautious optimism,” identifying resilient growth opportunities in oil and gas, student housing, and affordable residential segments for the year ahead. As the year draws to a close, from your perspective as a CEO, how…
The Good, The Tough, and the Future: Knight Frank’s Judy Rugasira on Uganda’s Real Estate Resilience and 2026 Investment Frontiers In this year-end CEO reflection, Judy Rugasira, the Managing Director of Knight Frank Uganda, the country's leading end-to-end property management firm, provides a candid assessment of 2025, characterised by a surprising "uneventful" political calm but marked by significant economic headwinds. While the typical disruptions of an election cycle failed to materialise, the real estate sector has faced a "perfect storm" of aggressive taxation, a sharp pullback in bank lending, and a growing disconnect between positive macroeconomic headlines and the gruelling reality of property investment. The CEO warns that the current tax regime is reaching a breaking point, extracting more from a shrinking pool of compliant investors and forcing a critical reassessment of real estate’s viability compared to regional neighbours and liquid asset classes.

Navigating the Squeeze: Judy Rugasira, Managing Director of Knight Frank Uganda, provides a candid assessment of the 'perfect storm' facing the real estate sector, from aggressive taxation to the rise of speculative development.



