BY PAUL TENTENA
Ruhakana Rugunda, Uganda’s prime Minister.
KAMPALA, UGANDA- Real Estate Developers have demanded that the government should set up a law that must check brokers popularly known as Kayungirizi because they distort and over value Uganda’s land valuation market.
According to Sabiti Bageine, the Executive Director of Property Management and Consultancy Ltd quality and value for money cannot be attained in the real estate market if exorbitant pricing is not checked.
He was speaking during the launch of Fortiza Construction Products in Kampala.
“We will remain stagnant with our immature market if land reforms are not worked on, strengthening of the land tenure and setting up a law to check the unscrupulous dealers in the real estate market,” said Bageine.
Joel Kateregga, a Quantity Surveyor noted that the law is needed because brokers are distorting the market by over valuing land.
Uganda’s Prime Minister Dr. Ruhakana Rugunda thanked Fletcher Building for launching the Fortiza product saying they had showcased the best roofing materials.
He promised to work with the respective ministry to have the law worked on if it will help to streamline the sector.
Depo Uganda was given the exclusive rights to distribute and import all Fletcher Building Materials including the FORTIZA products in Uganda.