Sector players ask gov't to expedite real estate bill

Sector players ask gov't to expedite real estate bill
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Players in the real estate industry have urged the government to expedite the approval of the real estate bill into law, in order to effectively regulate the thriving real estate sector in the country.

Experts have pointed out that with the increasing number of real estate development companies in the country, there is a lack of specific laws to govern their establishment and operations.

Eng Kenneth Kaijuka, the Chief Executive Officer (CEO) of National Housing, emphasized the significance of enacting a comprehensive real estate law that encompasses all stakeholders in the industry.

This includes developers, construction companies, suppliers, brokers, marketers, and consumers.

These remarks were made during the soft launch of the highly anticipated fourth edition of the Concept Kickstarter Conference 2024, organized by Concept Real Estate. The conference is scheduled to take place in Boston, United States, from 29th to 30th March.

The soft launch event was held in Kampala and attended by a select group of key stakeholders in the real estate industry, including experts, innovators, and business leaders.

The primary objective of this unique gathering was to provide insights into the exceptional investment opportunities that the upcoming Concept Kickstarter Conference will offer.

Eng Kaijuka expressed his pride in National Housing's role in championing the development of the real estate law, which is currently under review by Parliament.

"To facilitate successful business operations, there is a need for appropriate ground conditions and collaboration among various players in the industry, such as landowners, financial institutions, construction firms, design companies, marketing agencies, and materials suppliers," he emphasized.

Brian Kayongo, the Chief Executive Officer (CEO) of Concept Real Estate, highlighted the challenges faced by the real estate industry, particularly in finding suitable partners.

He stressed the importance of carefully defining the right partner, as each potential collaborator may have different cultures and visions.

"We are thrilled to host the soft launch of the Concept Kickstarter Conference; a venture that is reshaping the landscape of Real Estate: Business and Innovation. This conference is more than just a precursor to our official launch. It is a unique gathering designed to enrich you with insights, opportunities, and exclusive chances that will redefine and elevate your experience, unlocking your future," said Kayongo.

He further stated that this year's conference theme would focus on unlocking future opportunities in business, real estate, and innovation, with the aim of creating generational wealth and giving back to the community.

Finding partners who align with the company's overarching goals requires time and careful consideration, according to Kayongo.

Kayongo also drew attention to the lack of real estate legislation that regulates the sector, which poses significant challenges when exploring specific markets, particularly in Uganda. The absence of legal frameworks affects the ability to establish partnerships and navigate the legal aspects of collaborating with individuals and organizations in the sector.

Newtown Karera, the Business Director of Concept Real Estate, highlighted the company's vision and emphasized that the Kickstarter Conference offers a unique opportunity for real estate investors, especially those interested in investing in Africa or in the diaspora.

"For anyone who wants to own property, the Kickstarter Conference is the platform for us," said Karera.

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