Eri Ssebowa is a seasoned finance and accounting professional with over nine years of progressive experience in strategic financial management, business partnering, financial reporting, and performance management across the banking, telecommunications, and real estate sectors. Prior to this appointment, Eri served as Finance Business Partner – Retail and Business Banking at Absa Bank Uganda, where he played a critical role in driving strategic financial initiatives, optimizing budgeting and forecasting processes, strengthening revenue assurance, and providing board-level financial insights to support sustainable growth. He was instrumental in enhancing data-driven decision-making through advanced financial modelling, predictive analytics, and digital dashboards. Eri previously…
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Acacia Mall one of Uganda’s prestigious and much sought-after malls has been sold. Alykhan Karmali’s Gulfstream Investments (U) Ltd, an investment vehicle through which he owned property, according to very knowledgeable sources, a while ago sold all its interests in Acacia Mall to Lexington Properties and is reportedly focusing on investing in the more lucrative and investor-friendly Dubai real estate market. Lexington Properties is a subsidiary company of the Sarrai Group- a conglomerate of diverse inter-related agro-manufacturing, cement, and foam mattresses as well as properties across East and Southern Africa. According to industry sources, Alykhan Karmali didn’t necessarily sell for…
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The state of buildings in a locality, zone or city normally gives the first impression to a newcomer of the economic state of the area. The skyline of Dubai, Hong Kong, Manhattan and Singapore are symbols of wealth and glamour just as much as Kibera, Gugulethu, Kinawataka or the favelas of Rio are a testament that poverty and glamour rarely co-exist. Real estate investment decisions are largely affected by economic and political factors but also by sentiment and exposure. The Covid-19 pandemic, multiple changes in the tax laws, the uncertainties surrounding Uganda’s land tenure system and the related land grab…
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In the report released on January 13th 2023, covering the six months to December 2022, Knight Frank, observed that “2022 was a year of resilience, circumspection, and optimism” and that despite slow economic recovery dogged by local and international challenges, such as inflation, the Ukraine war and lag effects of Covid-19, there was some remarkable rebound in the real estate sector. “Across the different real estate sub-sectors, the post-pandemic recovery was optimistic, with demand and supply indicators pointing to positive growth on a year-on-year comparison,” the report said. CEO East Africa Magazine’s Muhereza Kyamutetera read the report and presents some…
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Judy Rugasira Kyanda, the Knight Frank Uganda Managing Director is many things— a trailblazing entrepreneur, an industry leader, a thought leader and a mother. She is one of Uganda’s foremost property management professionals, if not the best as well. Judy is also a commercially and technically savvy Chartered Surveyor, a member of the Royal Institute of Chartered Surveyors, a Fellow of the Institution of Surveyors of Uganda and a registered member of the Institute of Real Property Valuers in Rwanda. She holds a BSc (Hons) in Land Management, from the University of Reading, in the United Kingdom in 1995, she…
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#1: CONDOMINIUMS ARE THE FUTURE- BUILD SOME OR BUY ONE Land in Kampala City is getting expensive and the traditional Ugandan bungalows with large gardens can only be sustained several kilometres away from the city centre. A cost-effective way of utilising land is building upwards. A typical family in Kampala must spend close to 4 hours daily, getting to and from work- time they should be used to improve their business or careers or with their families. Compared to condominiums where there is a shared cost of maintenance and therefore enhanced security, the bungalows in the suburbs are getting more…
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Land ownership is an important aspect of real estate investment. What land tenure system favours or disfavours real estate investment? What should one consider before acquiring land? There are various land tenure systems— namely customary, freehold, mailo and leasehold. It depends on the tenure that you currently have or the one you are interested in buying. Before you venture into any real estate investment or any property investment, it is prudent to do your due diligence. At the pre-purchase stage, you need to identify the land or property you want to develop, then do your due diligence― for example, location,…
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Renowned real estate magnate Dr. Sudhir Ruparelia of the Ruparelia Group will tomorrow give a lecture on how to run real estate business. The businessman whose Meera Investments Ltd is arguably the largest developer of commercial and residential space, with over four hundred properties in Uganda, will be speaking about the topic: “Real estate as a business ―how is it different from simply owning a real estate? He will be speaking at the Uganda Revenue Authority (URA) organised virtual “E-Bomba Ya Business Summit” that will be broadcast on Zoom, URA TV, BABA TV and BBS Terefayina. The summit is being…
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Meera Investments Limited, the property development arm of the Ruparelia Group, this month broke ground for the construction of Tower 1, a 12-storied retail and office property, in Kitante, in the Heart of Kampala. Tower 1 is the first of 10 office towers, to be erected at Plot 1, Yusuf Lule Road, at what will be known as The Pearl Business Park- an 18-acre mixed use park, with a 5-star hotel, a shopping mall and a modern hospital when it is completed. The development will be Ruparelia Group’s largest. The tower was designed by Symbion Uganda Limited, one the region’s…
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With Tagore Living and Bukoto Living projects nearing completion and already on the market, Meera Investments, the real estate development arm of the Ruparelia Group will this March, start constructing Uganda’s largest luxury homes project- the One-10 Apartments. To be built on Prince Charles Drive, in Kololo- Kampala’s and Uganda’s most prime residential location, the project consists of 156 luxury 2,3 & 4 apartments, all of them, for sale. The complex also will have a luxurious swimming pool and luxury bars and lounges and a host of other shared spaces. CEO East Africa Magazine, understands that ground-breaking for the…
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