The Lubowa housing project of the NSSF has won international property awards.
This occurred at a virtual awards event in London, which brought together the greatest property professionals from Africa and the Middle East.
National Social Security Fund got a five-star prize for their Solana real estate project in Lubowa at the Africa and Arabia property awards.
This occurred at a virtual awards event in London, which brought together the greatest property professionals from Africa and the Middle East.
The honors are part of the prestigious International Property Awards, which honor the highest levels of performance in the property and real estate industries around the world.
They are judged on design, quality, service, innovation, originality, and dedication to sustainability by an independent panel of over 80 renowned worldwide industry professionals.
Two five-star awards were given to NSSF’s Solana Lifestyle and Residences project, including the best mixed-use development and the finest residential development in Uganda.
The Solana Lifestyle and Residences project has also been nominated as Africa’s greatest residential development project, and will compete against the world’s best real estate residential projects in the grand finals in December 2021.
“The five-star awards allow us to highlight NSSF, Solana Lifestyle and Residences, and our country’s accomplishments on a global scale; they are validation that taking the risk to develop Solana was the right option, and that what is being done is in the best interests of the Fund members. It firmly establishes the Fund as a large-scale substance developer in Uganda and the region,” stated NSSF Deputy Managing Director Patrick Ayota.
The prizes, he said, are proof that Uganda’s real estate developments are beginning to meet international standards.
The NSSF’s Lubowa housing project is located on the Fund’s 600-acre property in Lubowa, a posh neighborhood in the Wakiso region.
It will be implemented in ten phases over a ten-year period.
The first phase of the development, which includes 311 high-end dwelling units (villas, townhouses, apartments, and bungalows) as well as associated facilities and infrastructure, is now under construction.
It will have a total of 2,741 dwellings and related amenities for middle- to high-income people.
Shopping malls, retail stores, hospitals, schools, hotels, and workplaces are just a few of the amenities available.
“Over time, the site has developed into an unusually well-located premium destination, surrounded by existing infrastructure, desirable amenities, and expensive residential housing.” This prompted us to rethink our initial development plan of building cheap housing in order to find the highest and best usage,” said Ayota.
He went on to say that the Fund made the courageous and innovative decision to abandon their original proposal and instead establish a development that would be a “first of its kind” not only for Uganda, but for the rest of East Africa, after doing significant market research and studying worldwide trends.
NSSF has nearly 2000 acres of prime land in Kampala and the surrounding areas, and its real estate strategy comprises unlocking value on prime land acquired through land banking over the years, according to its investment philosophy.
In addition to the Lubowa project, NSSF also owns the Mbuya Citadel Place, a high-end condominium housing project, and is building affordable housing in Kyanja and Temangalo to address Uganda’s growing housing shortage, which is expected to be 2.4 million units.
NSSF will compete in the grand finale of the International Property Honors, which will be held at the end of the year, after winning the Africa and Arabia Property regional awards.
The awards, which are now in their 28th year, include regional heats for Arabia, Africa, Europe, Canada, Central and South America, the Caribbean, the United States of America, the United Kingdom, and Asia Pacific.
