Uganda’s real estate sector remains resilient despite lockdown shocks
Residential houses being constructed in Wakiso District in central Uganda. Tax exemption on construction materials will boost the property industry. PHOTO | MORGAN MBABAZI | NMG
Uganda’s real estate industry exhibited some resilience during the first six months of 2021 in spite of painful lockdown measures though with several struggling tenants, depressed landlords and a surge in the number of properties put up for sale by commercial banks seeking to recover money from distressed borrowers.
Whereas some real estate industry players have predicted a slow growth for the rest of this year following the 42-day lockdown period that ended last month, general performance indicators recorded during the first half of 2021 point to a resilient sector ready to benefit from future economic recovery or boom.
