30%
Off-plan deposits
Held in HomeSure escrow with milestone releases. Fund the early phases of construction without ever holding buyer funds on a balance sheet.
Construction & development
Five sequential phases. Zero bank debt. Generational housing impact.
Each phase is funded primarily by the previous phase's revenue, supplemented by off-plan sales, diaspora capital and joint venture equity. No phase requires conventional bank debt to begin — critical in a market where lending rates average 22%.
Phases
5
Year 7 cumulative units
3,500+
Phase 1 IRR (unlevered)
26%
Deficit closed by Y7
0.15%
“Every unit built reduces Uganda’s 2.4 million-unit deficit. Every tenant who pays through HomeSure builds a credit history. Every credit history eventually enables a mortgage. Every mortgage enables the next buyer.”
The fundamental principle
Capital architecture
Funded without 22% bank debt.
Uganda's commercial lending rate makes conventional construction debt prohibitive. Every phase is engineered to be fundable through a stack of non-bank sources.
40%
Diaspora equity
Ugandans abroad invest through HomeSure with USD-denominated returns and quarterly reporting. The most patient capital in the stack.
Land
Land-for-equity JV
Landowners contribute land in exchange for equity in the development. Zero land acquisition cost — a structural margin advantage.
5–8%
DFI / impact capital
Green and affordable framing unlocks IFC, AfDB and AFD capital at single-digit cost vs Uganda's 22% commercial bank rate.
Five phases
The construction strategy in full.
Sequential, compounding phases. Each phase funds, de-risks and unlocks the next.
Phase 01Year 1 – 3
Affordable Mid-Market Residential
Kira · Naalya · Namugongo · Wakiso
Build 20–60 unit apartment blocks at the UGX 80–150M sweet spot for Uganda's working middle class. Funded entirely through off-plan pre-sales (30% deposits in HomeSure escrow) and diaspora JV capital.
- Land-for-equity JV — landowners contribute land
- 60% two-bed · 30% one-bed · 10% three-bed
- 8–10% yield on the 20–30% retained rental units
- 30% off-plan deposits in HomeSure escrow
Phase 02Year 2 – 4
Purpose-Built Student Accommodation
Makerere · Kyambogo · Nkumba
24–80 room hostel blocks within 1 km of major universities. Across Africa's 1,331 higher-ed institutions, only 30% of student demand is met. PBSA generates 13–14% yields and unlocks alumni-led diaspora capital.
- 40-room block: UGX 168M annual revenue on UGX 600M build
- Year 3 unlevered ROI: 28%
- Alumni diaspora pipeline — emotional + financial fit
- 1 block per zone Year 2 → 3–5 per zone by Year 5
Phase 03Year 3 – 5
Mixed-Use Township Development
Gayaza · Mukono · Bweyogerere
2–5 acre mini-townships: ground-floor retail, residential apartments, primary school, clinic and green space. The cross-subsidy model funds affordable units with premium and retail income — Kigali Vision City and Kenya AHP playbook.
- 30% market-rate · 50% mid-market · 20% affordable
- Anchor school + clinic on every site
- Government PPP framework via UIA + Lands
- Transforms Jolems from developer to community builder
Phase 04Year 4 – 6
Industrial & Logistics Real Estate
Namanve · Nairobi-Kampala AfCFTA corridor
Grade A warehousing and light industrial along the AfCFTA corridor. Uganda e-commerce growing 13%+ annually; AfCFTA eliminates 90% of intra-African tariffs. Long institutional leases at 10–13% yields — the natural REIT anchor assets.
- Dry warehouses 2,000–5,000 m² · cold storage · last-mile
- Tenants: DHL, Jumia, Safeboda, FMCG distributors
- 3–7 year institutional leases
- Anchor assets for the eventual REIT structure
Phase 05Year 5 – 7
Green & Smart Infrastructure
Across all Phase 3 + 4 sites
Every project from Year 3 is built to certified green standards: rooftop solar, rainwater harvesting, EPS panel construction and smart utility metering. Green framing unlocks DFI funding at 5–8% — a structural cost-of-capital advantage.
- IFC green affordable housing — $5–50M tranches
- AfDB SUDAP urban development programme
- AFD Uganda incremental housing — $199.5M (2025-2028)
- Carbon credits from solar + EPS construction
Phase 1 unit economics
A representative 40-unit block.
The numbers below assume conventional burnt-brick construction in the Namugongo–Kira corridor with a land-for-equity joint venture.
Land (via JV — Jolems contributes 0)
UGX 0
Construction cost (40 units × UGX 90M)
UGX 3.6 billion
Professional fees & permits
UGX 220 million
HomeSure marketing & sales
UGX 80 million
Total all-in cost
UGX 3.9 billion
Off-plan pre-sales (30 × UGX 130M)
UGX 3.9 billion
Retained rental units (10 × UGX 110M value)
UGX 1.1 billion (asset)
Annual rental income (10 × UGX 1.1M / mo)
UGX 132 million
Net return by Year 3 (sold + yield)
26% unlevered IRR
Pre-sales clear the all-in cost. The retained 10-unit rental block becomes a permanent yielding asset.
Build methods
Conventional today. Modular and green tomorrow.
Burnt brick & steel
The proven, locally-sourced standard — Phase 1 baseline. Affordable, durable, supply-chain resilient.
EPS modular panels
Prefabricated wall systems from Phase 3 onwards — accelerates schedule, reduces waste, lowers cost.
Solar + rainwater
Mandatory from Phase 5 — rooftop PV and rainwater harvesting. Unlocks DFI green-construction tranches.
Smart utility metering
Per-unit prepaid meters integrated with HomeSure. Tenant credit history is built with every payment.
Pipeline
Priority sites under active discussion.
A representative slice of the early-stage pipeline. Each opportunity is scored on land tenure, infrastructure access, market depth and JV-partner alignment.
Site
Opportunity
Status
Namugongo Corridor
Phase 1 — 40-unit residential
Diligence
Kira Expressway
Phase 1 — 60-unit residential
Term sheet
Wakiso Belt
Phase 1 — 30-unit residential
Negotiating
Makerere zone
Phase 2 — 40-room PBSA
Diligence
Kyambogo zone
Phase 2 — 24-room PBSA
Negotiating
Gayaza
Phase 3 — 3 acre township
Site survey
Mukono
Phase 3 — 4 acre township
Negotiating
Namanve Industrial
Phase 4 — Grade A warehouse
Negotiating
Land-for-equity & contractor JVs
Bring us a site or a build capability.
We structure transparent joint ventures with landowners and pre-qualified contractors. Title verified through HomeSure OCR; profit shares documented and signed digitally.
- Land tenure verified before any term sheet
- Profit-share or unit-share structures available
- Contractor framework agreements with milestone payouts
- Five-year preferred-supplier programme for materials
Build with us
Bring us your land. We build the future on it.
Joint ventures, contractor frameworks, materials supply and DFI co-financing — all structured, all transparent, all on HomeSure.