18 December 2012

Uganda: Property Consultants Decry High Costs

Joseph Magandazi Yiga, the managing director of Jomayi Property consultants, is concerned over the high costs of utilities like electricity and water, arguing that these particular bills are hurting the real estate business.

Yiga wants government to intervene and do something about these business costs. Yiga says that they incur huge sums of money to set up electric and water lines, and grading roads, something that should be the government's responsibility.

"We have been requesting the government to assist us set up electricity and water lines because they benefit the general public. But after we have put them up, the government levies taxes. So we think they should help us," Yiga said.

Yiga made this statement while opening up his latest estate, Bujuuko satellite city, on Mityana road last week. The city comprises of 8,000 plots, Jomayi's largest. Yiga also announced a new plan to expand his estates countrywide.

He recently acquired an estate in Mbarara in western Uganda and another at Kitigoma-Mbiko to cater for the Eastern region. He said the company has slashed prices by 15% and is rewarding a bag of cement per Shs 1m spent in the company.

The company, which celebrated its 15th birthday recently, has sold out more than 20,000 plots in over 50 estates. The company has now grown to have other establishments including, Jomayi hardware, Jomayi paint, Jomayi stones, among others.

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