According to Knight Frank Uganda, an estate agent, residential apartment units increased from 2,006 units in the first six months of 2019 to 2,230 units in the first six months of 2020. et as developers concluded construction, the people to occupy these units were nowhere. This is mainly because of the coronavirus pandemic that saw many foreigners leave the country and some Ugandans put on hold plans to either buy or shift to a new apartment.
In its report analyzing the property market in the second half of 2019, Knight Frank says there was at least an 8.5 per cent year on year increase in the supply of apartment units coming onto the market. The biggest increment was noticed in the prime residential areas of Kololo, Nakasero, and Naguru.
According to Estate agent Knight Frank Uganda report for the first six months of 2019, occupancy rates for prime residential apartments increased from 69% recorded in the first half of 2018 to 78% in first of 201
The property manager Knight Frank Uganda said in a short statement this morning that the move is part of the initiative to redevelop the mall, and improve tenant mix and customers shopping experience as seen with the recent entry of Shoprite Supermarket as the anchor tenant of The Village Mall.
According to the income tax (amendment) bill 2019, which will come into effect on July 1, 2019, a company earning rental income from more than one property, will be required to account for their income and expenses separately.