In a bid to deliver on the mandate to increase the housing stock in the country while rehabilitating home ownership in Uganda, National Housing and Construction Company Ltd (NHCC) has launched a new campaign “Quality Homes, For a Bold Future!”
The UGX 200,000,000 quality campaign was launched at the Jasmine Apartments -Naalya, a NHCC development suited for modern living.
The campaign, aims at creating value for new home buyers by offering premium start-up home furnishings valued at UGX 20,000,000 to up to 10 winners within the next three-months.
The home development partner is bringing awareness about their already existing partnerships with financial institutions to make the dream of home ownership a reality for Ugandans. Available properties for sale include; Jasmine Apartments Naalya (3 Bedroom: UGX 437M and 4 Bedroom: UGX 481M) Impala Estates Namungoona(3 Bedroom: UGX 290M) and the Rwizi View Apartments Mbarara(2 Bedroom: UGX 199M and 3 Bedroom: UGX 299M) According to research by Uganda’s leading estate and property consultancy; Knight Frank, there has been a gradual increase in the prices of land and houses within Kampala and surrounding districts. In the last 24 months alone, 2 and 3 bedroomed apartments were reported to have gradually increased by 3% and 4% respectively. In order to further incentivise quality home ownership, National Housing and Construction Company potential home buyers who make 100% deposits on any of the properties for sale will automatically.
Speaking at the launch, the CEO of National Housing, Eng. Kenneth Kaijuka emphasized their goal to make acquiring quality property flexible to individuals who are eager to own their home. “Over the years, the majority of the banks in Uganda that offer mortgage facilities have serviced so many of our clients who have purchased homes and properties with us and this campaign is no exception. Some of these banks include; Stanbic bank, Housing Finance, Standard Chartered Bank, dfcu, Bank of Africa to mention but a few. Our sales representatives shall be present at some banks, select malls and supermarkets to further explain how Home Purchase Payment Schemes work. We believe that everyone must own a home and we strive to support the home ownership process. ” Kaijuka implored.
All NHCC property can be purchased through 4 flexible options as explained below;
Option 1: Outright Purchase: Under this option the purchaser shall pay 100% of the purchase price on offer.
Option 2: Phased Payments: Under this option the purchaser shall pay 20% of the purchase price as the initial deposit. The difference shall be paid in installments within 36 months
Option 3: Rent-to-Own Scheme: Under this scheme, the buyer makes a 50% down payment of the purchase price and the balance is amortized within a 3 year period. This is specifically for properties that are not under the construction or development stage.
Option 4: Mortgage Payment: Through mortgages, buyers can identify a bank of their choice and negotiate terms. The bank then pays NHCC the total purchase price or the amount agreed. Enter a raffle draw and stand a chance to win furnishing worth UGX200 million.
Property Specifications
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Jasmine Apartments
The Jasmine Apartments are located in the heart of the existing Naalya Housing Estates, A highly organized housing community in Kampala. It is an elegant premium residential property guaranteed to suit modern living. It is a high potential property that delivers on quality in view of its geography, additional spaces and spacious interior. The 3-bedroom apartment consists of a self-contained master bedroom, sitting room and dining room, 2 bathrooms, 2 balconies. The 4-bedroom apartment comes with an extra guest room that is self-contained. The estate is located next to commercial developments including shopping malls, hospitals and banking services.
Impala Estate Namungoona
The Impala Estate in Namungoona is a gated and secure housing community of 131 semi-detached units and 64 apartments. Located on Hoima road after Kasubi, the interior of the housing units is equipped with 3 bedrooms including a self-contained master bedroom. The estate is easily accessible through the Northern By-pass, and the Makerere-Kasubi interchange. It boasts of amenities and commercial developments including shops, salons, nursery school, sports grounds (netball and football pitches), ample parking, 24/7 security and a nearby police post.
Rwizi View Apartments, Mbarara
And finally, Rwizi View Apartments is located alongside the breathtaking Boma Hill in Mbarara. The location gives you a fascinating view of the city’s landmarks such as the River Rwizi and the Nyamitanga Hill. The gated estate has a total of 80 units with ample paved parking, a green area, a fire hydrant and 24/7 security. Available units comprise 3 bedrooms and 2 bedrooms.
To ensure quality and professionalism, National Housing and Construction Company has a team of experienced professionals in the construction sector and are key decision makers before any construction work is commenced, to reduce onsite and post-site accidents which have become a common phenomenon in the recent past.
Iconic developments like the crested towers building, Bugolobi Flats, Bukoto flats, Nakasero flats, Wandegeya flats, the Naalya Estate, sunset apartments Kiwatule, Regina estate Lubowa to mention but a few, have defined and shaped the real estate arena in Uganda’.
According to the Chief Finance Officer, Derrick Mutegyeki ‘cost is the biggest determinant of housing demand. Every Ugandan deserves access to modern quality housing and NHCCL is here to facilitate the realization of that belief. This is one of several offerings that NHCC will continue to unveil to subsidize home ownership while also enhancing the lifestyles of our customers.’
The Board Chairman, Slyvester Wanjuzi Wasieba added ‘access to decent shelter is a fundamental right. NHCC reiterates its commitment to reducing the housing backlog in Uganda currently estimated at 1.6 million housing units’.