Ricks Kayizzi
5 January 2009
Kampala — AKRIGHT Projects' managing director, Anatoli Kamugisha, has said people should adopt modern ways of living communally to minimise the costs of service provision.
"When people live communally, the cost of distributing services is minimised. A greater number of people can live in a small area and are provided with essential services," he said.
"These are what we call condominiums on functional commercial apartments, whereby each floor is demarcated for a particular function," he told reporters at the firm's Kakungulu Satellite City offices on Entebbe Road, recently.
Kamugisha said the flats would have shops and supermarkets on the ground floor, offices on the first floor and apartments on the second and third floors.
He said each area for a supermarket or shop costs for sh75m, an office unit sh40m and a residential flat sh55m.
Kamugisha said buyers would be given individual titles for particular units bought.
"These titles can work as collateral to get loans from banks.
"Buyers will also get full security of tenure upon payment for the property in conformity with the land tenure system on which the property is," he said.
Kamugisha, who doubles as the chairman of the Uganda Property Developers Association, said setting up of condominiums was the way to go because land was becoming scarce, mainly in urban areas.
"We have taken the route of optimising use of available land for better economic returns." Unlike other factors of production, land will continue to be scarce as the population increases and as more real estate developers come on board."
He said their condominiums initiative, which started at their Kakungulu Satellite City along Entebbe Road and Namugongo estate, would later on be spread to their remaining eight estates in and around Kampala.
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