Makerere University has announced its intention to enter the real estate industry in Uganda with construction of a five star hotel, hostels and constructing a satellite city.
The Vice Chancellor of Makerere University, Prof. Venansius Baryamureba has told journalists in Kampala today that the university is looking for partnerships with the private sector to develop its real estate strategies which it hopes will generate money for the university while serving Ugandans with appropriate housing and accommodation facilities.
Prof. Baryamureba says the University is planning to construct a five star hotel at its land in Munyonyo, Makindye and a satellite city at its land in Katalemwa.
He says the university will also develop its several land assets and warned against those including the Buganda kingdom claiming some of the land belonging to the university. Baryamureba said the university has the land titles to all its land.
The Vice Chancellor said the Makerere University Faculty of Technology is already development housing plans for the hotel and satellite town, as well as hostels to be constructed by the university on its land assets.
He appealed to private businesses persons and investment bodies to express interest to partner with Makerere University in its new venture of building residential facilities.
Prof. Baryamureba says Makerere University is ready to work with private developments like hotel mogul Sudhri Rupalaria and the money house National Social Security Fund to develop its projects, adding that the university is welcoming and willing to discuss with all potential co-investors in its real estate projects.