Govt to Revise House Cooperatives for Affordable Housing

Wakiso District | THE BLACK EXAMINER | The Ministry of Lands, Housing, and Urban Development is currently considering revisions to housing cooperatives to make affordable loans available for both housing and land.

During the handover of 90 housing units to BuildNet clients in Najjera today, Minister for Lands Judith Nabakoba highlighted the persistent high demand for suitable housing among citizens, despite efforts by real estate companies like BuildNet.

She further mentioned that the ministry is collaborating with real estate firms to explore effective solutions to address the shortage of affordable housing, particularly in urban areas.

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Presently, statistics indicate that 67 percent of the urban population resides in informal settlements, largely due to affordability issues.

Ibrahim Ssemaganda, Director of BuildNet, acknowledged that operating at full capacity is hindered by the high cost of building materials. He stated, “Any measures that can reduce construction material costs and lower taxes on these materials would contribute to reducing apartment prices.”

The commissioned project comprises three blocks, and the clients have received official documents confirming their ownership of the apartments.

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