Mid-Market Residential
Kira · Naalya · Namugongo · Wakiso
The biggest gap. Young professionals earning $400–$1,000/month. UGX 80–150M sweet spot.
Market intelligence
Why East Africa. Why Uganda. Why now.
Acute housing crisis. Strong growth. AfCFTA momentum. Diaspora capital. A generational opportunity.
Housing deficit
2.4M
Annual supply gap
140K
Urban pop. by 2035
20M
GDP growth (2024)
6.5%
The thesis
Three forces converging at once.
Demand: 200K units a year, supply 60K. Urban population to 20M by 2035. Median age under 16. A 30-year demand curve.
Payments: mobile money carries the majority of household spending. AfCFTA eliminates 90% of intra-African tariffs on the Nairobi-Kampala corridor.
Capital: $1.2B+ in diaspora remittances with no trusted property channel. HomeSure closes the gap.
Indicators
The numbers behind the strategy.
Sources: UBOS, MoLHUD, NHCC, World Bank, UN-Habitat.
Housing deficit
2.4M units
Annual demand
200K units
Annual supply
60K units
Annual gap
140K units
Urban population by 2035
20M
GDP growth (2024)
6.5%
Kampala growth
5%+ annually
Median age
<16 years
Average rental yield
8–14%
Annual appreciation
10–15%
Mortgage penetration
1.2% of GDP
Serviced apartments demand
+12% YoY
Sub-markets
Six demand pools. One operating model.
Six sub-markets, one tech stack. We scale where competitors specialise.
Purpose-Built Student Accommodation
Makerere · Kyambogo · Nkumba
Only 30% of African student demand is met. 13–14% yields. Alumni-fundable.
Mixed-Use Townships
Gayaza · Mukono · Bweyogerere
Cross-subsidy funds affordable units. PPP-eligible. Cheaper land.
Industrial & Logistics
Namanve · Nairobi-Kampala AfCFTA corridor
13%+ e-commerce growth. 10–13% yields. The REIT anchor.
Serviced Apartments
Kololo · Nakasero · Nakawa
+12% YoY expat demand. USD leases. Highest unit economics.
Green Smart Housing
All new developments from Year 3
Solar, rainwater, EPS, smart meters. DFI capital at 5–8%.
Construction cost advantage
The cheapest place to build is right here.
Cheap to build. Free land via JV. Compounding margins.
Uganda
$22,000
Per affordable unit (NHCC Lubowa pilot, 2024).
Rwanda
$979
Per square metre, lowest in East Africa.
Kenya
Benchmark
Higher land and labour cost; longer permitting cycles.
Regional expansion
Three new markets by Year 5.
Kenya, Nairobi
AfCFTA corridor. $200K+ units a year. White-label HomeSure with a local partner.
Rwanda, Kigali
Most business-friendly economy. 150K new homes targeted/year. $979/m² build cost.
Tanzania, Dar es Salaam
54% of urban households rent. Bagamoyo Port. Industrial fit.
Diaspora capital
$1.2 billion+ in remittances. No trusted digital channel, until HomeSure.
$1.2B in remittances flow home each year. Most go to consumption because no credible operator made property passive. We close that gap.
$1.2B+
Annual remittances
USD
Investor returns
Q1
Reporting cadence
2%
Concierge fee
Position your capital
Ahead of the supply gap.
Demand compounds. Supply does not. We build.