The National Social Security Fund has over the years invested in real estate projects in Uganda.
From Lubowa to Nsimbe, Jinja city house and Mbuya housing project.
This week it launched the NSSF Mbarara City House.
The Mbarara City House project is part of the fund’s strategy to diversify its investment portfolio minimising any risks within it’s asset classes.
The Shs 3.9 billion project according to the fund’s managing director, Richard Byarugaba, will have retail and office space.
NSSF has 7% of its funds invested in real estate.
From Mbarara, like other housing projects, the fund projects a 20% return annually from the investment.
But even as the fund boasts of a Shs 11 trillion asset base, being the largest financial institution in Uganda and the largest pension fund in East Africa, stakeholders feel the law needs to be adjusted fast enough to address particular constraints.
While housing in Uganda is one of the constraints government is struggling with, Chris Baryomunsi, the minister of state for Housing said partners providing housing services need to be provided space for quick growth and better development.