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Housing Sector Players Demand Sector Regulation

Players in the housing sector are demanding for sector regulation to guarantee investment. Edwin Musiime the event organizer and Chief Executive Officer of Crest Group says although the real estate employs vast majority of people, government should support the sector to operate professionally by reducing reorganizing the sector.

“The  housing  sector  is fast growing sector of the economy with many players however the sector needs continuous budget allocation and policy  to regulate private sector developments,”Musiime.

He was opening this edition of property and hones exhibition at Sheraton Hotel.

The exhibition has attracted over 30 companies and public who are eager to learn and invest in housing section.

National Housing Chief Executive officer Eng. Kenneth Kaijuka said housing section demands will continue growing due to the ever growing population to boost the sector business however the  sector needs financial support from government to enable the players build modern housing units to cater for various categories of people.

“we demand that government sets up finance quarantine scheme where housing sector players  can get long term finances to invest in housing section. Once in place players can cater for low class, middle and rich customers who demand housing and in turn guarantee huge investment in the sector,” Kaijuka said.

According to statistics from ministry of housing Kampala needs close to one million housing units to address housing deficit.

Stanbic Bank is offering 2.5 billion financing up to 20 years for the home loan package that will address housing needs.

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