Uganda’s largest real estate company, Pearl Marina Estates ltd has officially launched the second phase of the construction with over three hundred housing units to be developed at the Garuga peninsula along the Lake Victoria shore line in Entebbe, Uganda.
This follows after the completion of the first phase of over four hundred housing units at the 389 acres land under development by the Pearl Marina Estates Limited, a subsidiary of Centum Real Estate (part of Centum Investment PLC).
Phase two has already been embarked on with pre-sales for apartments, bungalows, villas & construction is set to commence, said Eng Kenneth Mbae during the ground breaking ceremony over the weekend at the Pearl Marina Estates.
The second phase of the Pearl marina estate is more than luxurious & exciting with mansions or maisonettes to be acquired with a 15% monthly installment deposit, said Sylvia Alal also Head of Market at the Pearl Marina Estates ltd.
The Pearl Marina Estate has created a factory of jobs within a bigger eco-system & we follow best practices with government approvals, said Ken Mbae over the weekend at the Pearl Marina Client Appreciation Day on Saturday.
The Pearl Marina Estate is a well planned estate with no insecurity with several facilities including swimming pools, private beaches, sports facilities & kid’s play areas for children riding freely, said Eng John Paul Sentamu also senior architecture at the Impact Associates company.
Pearl Marina Estate is a quiet, lush setting away from the congested Kampala city zone area with a newly tarmacked road access to the Garuga waterfront shoreline with Bellavista apartments,Rievera town houses plus La Perla bungalows & Cape homes.
Meanwhile, the NCBA Bank Uganda & Pearl Marina Estate have entered into a strategic partnership aimed at expanding access to housing finance and boosting real estate development in the country, said Henry Ogwal also manager corporate banking at NCBA Bank.
NCBA Bank will offer tailored mortgage financing solutions to make home ownership more affordable and accessible, he added.
Mortgage access is also still a major challenge, with high interest rates, short repayment periods and strict eligibility requirements locking many Ugandans out of home ownership, says reports.
Despite rising demand, housing supply has remained far below with Kampala alone nursing a housing deficit of more than 300,000 units, reveals our source.
Pearl Marina truly provides a luxurious & comfortable living experience with a wide range of housing options plus and double-storied villas.
Pearl Marina Estates is Uganda’s futuristic lakeside city with over 3km lake frontage overlooking the largest tropical & 2nd largest freshwater lake in the world.(By PEACOCK KAWEESA)
