By Spy Uganda
Hon. Judith Nabakooba, Uganda’s Minister for Lands, Housing, and Urban Development, delivered a powerful keynote address at the 13th Real Estate Investment Conference, emphasizing the transformative potential of Uganda’s real estate sector. Speaking to an audience of industry leaders, investors, and international participants, Hon. Nabakooba underscored the critical role of housing in driving economic growth and fostering sustainable urban development.
“Real estate is more than buildings; it is the foundation upon which communities thrive. Addressing Uganda’s housing deficit is not just a moral obligation but an economic opportunity,” Hon. Nabakooba said.
Organized by AREA Uganda, this conference comes at a pivotal moment as Uganda faces a housing deficit of 2.4 million units and a growing demand of 200,000 units annually. Rapid urbanization and population growth further highlight the urgency of addressing these challenges and unlocking the sector’s potential.
In her address, Hon. Nabakooba laid bare the magnitude of Uganda’s housing crisis, noting the interplay of urbanization and demographic growth. With a 5.2% urbanization rate and the establishment of nine operational cities, the demand for strategic housing solutions has never been greater.
“Uganda’s cities are growing rapidly, and we must ensure they grow in a way that meets the needs of their residents—providing homes, jobs, and services while fostering economic prosperity,” she remarked.
Hon. Nabakooba called on investors to seize the opportunities presented by Uganda’s expanding real estate landscape, emphasizing the need for inclusive and sustainable solutions.
Placing Uganda’s challenges within a continental context, Hon. Nabakooba highlighted Africa’s rapid urbanization. By 2050, Africa’s urban population is projected to reach 1.3 billion, creating immense pressure on housing and infrastructure.
“Africa’s urbanization rate is not just a statistic—it’s a call to innovate, collaborate, and invest. Uganda is ready to be a leader in this transformation,” she stated.
The theme of this year’s conference, “Exploring Real Estate Partnerships,” reflects the necessity of collaboration. Hon. Nabakooba urged stakeholders to move from competition to partnership, leveraging synergies to achieve long-term growth.
Hon. Nabakooba identified financing as the cornerstone of real estate development, advocating for innovative mechanisms such as public-private partnerships, green bonds, and impact investing to bridge funding gaps.
“Our cities need bold investments to meet the demands of rapid growth. Innovative financing is the key to unlocking Uganda’s real estate potential,” she said.
These mechanisms not only attract capital but also ensure that housing infrastructure is resilient, inclusive, and globally competitive. With every dollar invested in sustainable housing yielding up to $4 in economic returns, the sector’s potential to drive development is undeniable.
Hon. Nabakooba reiterated the government’s commitment to creating a robust legal framework to support the real estate sector. She announced that the Real Estate Bill, aimed at formalizing the industry and boosting investor confidence, is being fast-tracked.
“Sustainable housing is not a luxury—it’s a necessity. By investing in sustainable infrastructure, we unlock economic growth, create jobs, and promote environmental stewardship,” she said.
Hon. Nabakooba concluded her address with a call to action for stakeholders to seize the moment and drive the transformation of Uganda’s real estate sector. She emphasized the role of partnerships in building a resilient, inclusive, and prosperous housing industry.
“The real estate sector holds the power to shape our nation’s future. Together, we can build cities that are not only functional but vibrant, inclusive, and sustainable.”
