The Real Estate market has grown in Uganda over the last decade tremendously, with a boom in both the commercial buildings, residential buildings, affordable homes and condominium ownership regimes.
Whereas Real Estate market stalwarts can assert and say that the Real Estate Market is still at infancy, it has registered an incredible 5.6 percent growth over the last five (5) years. With everyone’s eyes set on the Real Estate industry as an investment,
KPG as a Real Estate Company has redefined all odds to set professional standards that cater for all questions, inquiries and hesitations that property market developers meet in the running of their day to day errands.
With Real Estate Market and Development, everything starts with the outright ownership of land.
The Constitution of the Republic of Uganda which is the grand norm provides under Article 237.3. that, Land in Uganda shall be owned in accordance with the tenure systems including customary, freehold, mailo and leasehold.
The most common of these in our urban set up are the private mailo tenureship and leasehold tenureship, the former being owned in perpetuity and the latter having a duration of ownership that may range from 5-99 years.
Do you Have a Good Title?
Good title is the passing of an interest in land from that one registered proprietor to another.
Note however that once that registration of the interest isn’t done, then good title is deemed not to have passed.
What are the many advantages that are associated with having a title registered?
A registered title is manifested on the official record of the ministry of lands in as far as who the registered proprietor is and therefore this helps identify a parcel of land uniquely with its registered proprietor.
A registered title, is entered into the registry and records of ownership thus sending out complete information to wit,
- The registered owner’s name.
- Location, description and size of the property.
- Restrictive covenants.
- Easements for example a right of way.
- Mortgages, charges or liens.
- Caveats or any other competing interests.
When a title is registered, it is simple to understand, a deed of conveyance is more complex to understand.
And the banking halls are welcoming to persons with registered titles which they can use as collateral security to secure the finance.
As KPG, we always do due diligence for our clientele to ensure that the Good title which we intend to pass is title that is free from any encumbrances whatsoever.
Who does your Advisory and Assurance?
After the procuring of land and ensuring that good title has passed, KPG carries out an extensive market research and development to help identify the suitability of the land with the project plan on paper, often times, Real Estate Developers have suffered low Returns On Investment in the hands of poor project planning and management.
Whereas, one might want to set up a supermarket facility or a warehouse facility, need must always be accorded to the mechanics of Demand verses supply.
The suitability test is very important not only because it helps put into consideration the fit and proper test but also because it assumes the risk of having to deal with a bad or poor investment decision event of which is registration of a low return.
KPG as premium Real Estate Developers and Property Managers, outsource the best affordable service providers to provide the following services upon completion of the above mentioned phases;
- Architects and Valuers.
- Construction Engineers and Professional Builders.
- Onsite Managers.
- Genuine Hardware Stores Etc.
The biggest problem faced by Ugandans living out of the country starts with where or how to make a good and sound investment in the ever appreciating Real Estate Industry but often times the reality is farfetched because of Companies or persons they choose to work with.
From failing to have good title passed, to not having good advisory in as far as the development is concerned. What should be your viable investment? A Commercial building, school, a hospital, a condominium apartment, studio apartments, high end rental apartments, or a good residential house.
The advisory role played by KPG shall put Real Estate Developers in the position that makes them ready to invest by painting for them a worthwhile picture of their investment.
Do you have questions of Property Management?
Property Management as best defined by KPG is the operation, control and oversight of Real Estate as used in its broadest terms.
Management indicates a need to be cared for, monitored, and accountability given for its useful life and condition and this is not any different from the role of management in any other business.
KPG as your Property Managers will manage your personal property, equipment, tooling, and physical capital assets that are acquired and used to build and sustain your Real Estate development.
Property Management involves processes, systems, and manpower required to manage the lifecycle of all acquired property including, but not limited to acquisition, control, accountability, filing tax returns, utilization and disposition.
As KPG, we have designed and put in place systems that make it easy for example client Trust Accounts, Property Performance Tracking, And Clean Audit Trails which systems establish a good communication channel and thus enabling one to access their investment both within and out of the Country.
We are optimistic that KPG adds great value to your investment.
Anan Mutabazi Ndori Esq.
Legal Secretary for KPG.
