Uganda: NSSF launches US$400m Lubowa Housing Project
On Sept. 26, the National Social Security Fund (NSSF) broke the ground to construct 2,740 housing units in Lubowo – about 16 km from Kampala city.
The new project is being constructed on the 565 acres of land and it is a build-and-sell project.
Speaking at the ground breaking ceremony, Richard Byarugaba, the NSSF managing director said that the new project will run for 10 years, but in phases. The first phase, which will consist of 370 units, will be completed after three years and thereafter, it (project) will be self-financing. Byarugaba said that the entire project will create 5,000 jobs.
“It is a big deal for our country,” he said. “I am happy we have reached this point of no turning back.”
Finance Minister Matia Kasaija, who was chief guest, said the project is well planned and will offer all social and economic services to the people without the latter going to the heart of Kampala city.
Kasaija and Byarugaba said the project is expected to yield a positive return on investment for workers savings once completed.
Four companies – XPCC, CRJE from China and Cementers and CRJE Brothers from Uganda won this construction deal through a competitive bidding process, officials said.