Activity in Uganda real estate picking up slowly

Rising occupancy rates in first-grade office buildings, residential areas in Kampala City and the growth of property inquiries captured investor attention during the first half of 2018. Credit to the sector rebounded despite second-grade office property owners struggling to attract tenants. Data from Knight Frank Uganda’s half-year industry report for 2018 shows that occupancy rates registered by Grade A properties — high-end office buildings that have ample parking space, and superior user services and location, grew by two per cent between January and June. This trend was driven by price discounts offered by some landlords and the entry of multinationals into the market. Occupancy rates in Kampala’s prime residential areas increased by five per cent during the first six months of 2018.