30%
Off-plan deposits
Held in HomeSure escrow. Released on milestones.
Construction & development
Five sequential phases. Zero bank debt. Generational housing impact.
Each phase funds the next. Off-plan, diaspora and JV equity. No phase needs bank debt.
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 22% bank rate kills conventional debt. We use a stack of non-bank capital instead.
40%
Diaspora equity
Ugandans abroad invest in USD via HomeSure.
Land
Land-for-equity JV
Landowners contribute land for equity. Zero land cost.
5–8%
DFI / impact capital
IFC, AfDB and AFD capital at single-digit rates.
Five phases
The construction strategy in full.
Each phase funds and de-risks the next.
Phase 01Year 1 – 3
Affordable Mid-Market Residential
Kira · Naalya · Namugongo · Wakiso
20–60 unit blocks at UGX 80–150M. Funded by off-plan deposits and diaspora equity.
- 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 blocks beside major universities. 13–14% yields. Alumni-fundable.
- 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 townships with retail, homes, school and clinic. Premium income subsidises affordable units.
- 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 on the AfCFTA corridor. 10–13% yields. The REIT anchor.
- 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
Solar, rainwater, EPS panels and smart meters. Unlocks DFI capital at 5–8%.
- 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.
Burnt-brick construction in the Namugongo–Kira corridor with a land JV.
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
Local standard. Phase 1 baseline.
EPS modular panels
Faster, cheaper, less waste. Phase 3+.
Solar + rainwater
Mandatory from Phase 5. Unlocks DFI tranches.
Smart utility metering
Prepaid meters on HomeSure. Builds tenant credit.
Pipeline
Priority sites under active discussion.
Early-stage pipeline. Scored on tenure, infrastructure, market depth and JV fit.
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.
Transparent JVs with landowners and contractors. Title verified by HomeSure. 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.
JVs, contractor frameworks, materials supply and DFI co-financing. All on HomeSure.