Executive Summary
Ocean Wales Property Agency Limited is a reputable real estate firm in Uganda, East Africa, providing valuations, sales, and rental services under the leadership of Mr Ssegirinya Godfrey. the company CEO.. We aim to provide an outstanding level of service, excellence and expertise in the real estate market to our clients.
With over 14 years of experience, the satisfaction of our customers is our main priority. Our goal is to be a point of reference in everything related to Real Estate. To make the Real Estate buying and selling of real estate as cost effective as possible while maintaining the highest level of service. Along with providing accurate and up-to-date information, skilled analysis and sound real estate advice and to continually explore new ideas and technology, to make the selling and buying of real estate faster, less costly, and easier.
Condominium living has benefits everyone can enjoy, at every age and stage of life. It’s a lifestyle that offers a long list of conveniences, and makes daily living a little easier. Many people come to Entebbe looking for such homes with many of the same perks as staying in a fine hotel, but there is none.
Ocean Wales Property Agency Limited is proud to present an exciting condominium project which will solved that problem. In this project proposal, we discuss the site, project details, and the market analysis. We invite you to explore this one-of-a-kind I investment opportunity in the heart of Entebbe.
Location Overview
The area which is proposed for condominium project is situated in Bugonga, Entebbe. Entebbe was the first colonial capital city of Uganda. Entebbe sits on the northern shores of Lake Victoria, Africa's largest lake. The town is situated in Wakiso District, approximately 34 kilometres (21 mi) south of Kampala, Uganda's capital and largest city. The metropolis is located on a peninsula into Lake Victoria, covering a total area of 56.2 square kilometres (21.7 sq mi), out of which 20 km2 (7.7 sq mi) is water. The coordinates of Entebbe are:0°03'00.0"N, 32°27'36.0"E (Latitude:0.0500; Longitude:32.4600).
Bugonga our target area is one of the desirable residential areas of Entebbe. It neighbors as prime areas like; Manyago, Nsamizi Hill (the presidential hill), Virus, and Post office ward.
Bugonga boasts a strong real estate market. The area’s beautiful scenery with a lake view, good climate, quiet neighborhood and upscale lifestyle continue to attract homebuyers and vacationers, providing robust opportunities for long-term and short-term rental investments.
Market Demand
Entebbe has perennially high residential demand. With a total job count that is approximately double the amount of households, the city’s employers rely on daily commuting from neighboring counties for workers. This pattern has worn on commuters over the past few decades. Recent surveys have shown an unusually high regional preference for walkable communities near jobs and public transit. Although we may be nearing the end of the most recent market cycle in the city, this evidence suggests both that the boom may continue for more years and that condominium construction will perform well over the long-term.
Within this context, our proposed sites occupy great locations to take advantage of booming job growth. The sites are within short walking distance of the Entebbe International Airport, UN Base, Uganda Virus Research Institute, malls, the Zoo, Uganda Petroleum Authority head offices and many other government offices. We believe that our sites will be ideal for adult renters that value a quiet neighborhood feel at home.
Market Demographics
The existing demographics of Uganda—and in particular, Entebbe—indicate that there will be a strong demand in housing from young adults (between the age of 25-45) both presently and in the coming years.
Land Cost
The cost of 1 acre of land in Bugonga would range from $700,000 USD to $800,000 USD.
Condominium Price
The cost of a fully furnished:
1-BHK unit starts from $80,000 USD
2- BHK unit starts from $120,000 USD
3- BHK unit starts from $180,000 USD
4- BHK unit starts from $235,000 USD
Penthouse starts from $350,000 USD
Site Plan
The Site Plan application to the municipality would be in accordance with the approved site-specific zoning. Detailed engineering and landscaping plans would be submitted to the municipal planning and engineering staff for review and “Acceptance for Construction”. Once the project has received municipal site plan, engineering, and landscaping approvals, the developer would then be willing to enter into a Site Plan Agreement with the municipality and post the applicable construction related securities. The construction of the approved Site Plan would be phased in accordance with the provisions of the Site Plan Control Agreement. Once the Site Plan Agreement has been finalized with the municipality and the appropriate securities deposited with the Township, the developer would apply for the issuance of building permits.
Marketing Plan
The overall marketing strategy for the proposed condos will be based upon our target demographic— young, urban professionals. To attract this demographic, we will focus on four key attractions of the proposed condos: 1) location in Entebbe 2) distance to Entebbe International Airport, and UN Base in Entebbe 3) streamlined luxury and 4) proximity to the beach. First, Entebbe has a plethora of bars, restaurants, and shops that play host to both daytime shopping and nightlife. We will emphasize the neighborhood feel of the site in addition to its location near employment centers. Within the units, our message will center on streamlined luxury: modern units without unnecessary frills.
Conclusion
We believe that this project will a great benefit to the Entebbe community and a good profit will earned. We look forward to hearing your feedback on our proposal to start the condominium project.
