Meera Investments Limited (MIL), Uganda’s largest property owner and developer has commenced sales for their Tagore Living Project- their latest urban homes project.
According to Dr. Sudhir Ruparelia, the Ruparelia Group Chairman, the parent company of MIL, Tagore Living, is the group’s first built-to-sell residential development project, aimed at “creating an opportunity for both Ugandans and foreigners to invest and own property in Uganda, for either residential or investment purposes.”
“Tagore living offers buyers a unique one-off opportunity to invest in a development- either as a long term rentable investment or to live in,” he said.
Meera owns over 300 for-rent properties in Kampala and other major towns like Mukono, Jinja, Mbale and Mbarara. The company also owns the largest number of ongoing real estate projects and is the largest private owner of commercial land in Kampala.
Tagore Living comprises of twenty eight (28) apartments located in Kamwokya-Kisementi, just a stone throw-away from Acacia Mall, the Kisementi shopping precinct, Kitante Golf-Course and the affluent Kololo neighborhood.
There are 3 configurations of the 2-bedroom apartments- but each with a kitchen, a living room, dining room and a spacious balcony from the living room. The 3-bedroom apartments also come with a kitchen and dining room, a lounge and an even more spacious balcony.
The apartments complex according to the developers is connected to a 3-phase mains power supply with a 24-hour back-up generator. It is also equipped with a duplex passenger lift as well as car lift to the two covered parking levels.
The facility is monitored by 24-hour high intensity surveillance CCTV cameras, a 24/7 operational control room and security personnel. The apartments are also served by a common laundry/utility room and have provisioning for Wi-Fi internet connection, split Air conditioning and cable TV amongst the many other amenities.
“For Tagore Living, we sourced and procured the finest and most durable building materials that set aside our developments from the rest. In addition, we are committed to delivering the highest quality, leaving no detail untouched. With our experience in the industry we have tried and tested numerous materials and our aim is to deliver high quality finishing with minimal maintenance. We believe in long term satisfaction and we are confident you will find this at Tagore Living,” commented Rajiv Ruparelia, the Group Managing Director.
Dr. Sudhir said: “Tagore Living is the result of an in depth design process, resulting in a striking property that considers every aspect of a comfortable living environment. The building has been aesthetically designed to seamlessly and beautifully blend with the surroundings, thus delivering the safest luxurious and elegant living experience.”
Uganda to host WFP Global Fleet Hub, establish unique humanitarian platesHe said the project benefits from both the group’s financial muscle and over “33 years of experience in building developments ranging from schools, hotels and commercial projects.”
“Meera Investments is one of the leading and most recognized developers in Uganda. A testament to our credentials and credibility can be seen in Kampala’s skyline, which is dominated by our projects,” he said.
The Knight Frank Uganda, Kampala Property Market Report for H1, 2019 noted that there was nearly a 10 percentage points rise in ooccupancy rates for prime residential suburbs of Nakasero, Kololo, Naguru, Mbuya and Bugolobi- from 69% in H1 2018 to 78% in H1 2019.
Knight Frank also reported a 7% increase in rental rates for 2-bedroom apartments from an average of USD 2,100 registered in H1 2018 to USD 2,250 in H1 2019 due to “demand outstripping supply as evidenced by an increase in expatriate accommodation for singles and couples for 2 –bedroom units.”
There was however a 5% decline in average rents for 3-bedroom apartments from USD 2,900 in H1 2018, down to USD 2,750 in H1 2019 due to a slowdown in demand.
According to Knight Frank, average sale prices for 2-bedroom apartments in prime residential areas stood at USD280,000 while 3-bedroom apartments sold for USD325,000. Prices for 4-5 bungalows on 0.25-0.5 acres of land went for an average USD1 million.
For further sales information and pricelist please contact Crane Management Services on: info@cms.co.ug or gm@cms.co.ug.
The sales office can also be reached on the following numbers: +256 752 711 750, +256 702 711 142 and +256 414 343 552 or 4th floor, Crane Chambers, Plot 36 Kampala Road.
