UIA reclaims 200 acres of land from investors in Namanve park
Posted Friday, December 20 2013 at 02:00
The plots will be put back on the market for interested bidders to apply.
Kampala- The Uganda Investment Authority (UIA) has reclaimed at least 200 acres of land that had been allocated to investors in the Kampala Industrial and Business Park (KIBP) in Namanve.
Speaking at a real estate investment summit recently, Ms Judy Rugasira, the Knight Frank Uganda managing director, said the withdrawal of the land followed investors’ failure to develop it as was agreed upon at the time of allocation.
The land is part of the 896 hectares which was in 2009 placed up for bids in developing the industrial park to facilitate industrialisation in the country.
Although 431 investors applied for the land, 277 bidders were allocated, granted on the basis of submitted investment proposals.
More than 75 companies have since lost the allocated plots for failing to develop them as had been agreed.
UIA executive director Frank Sebowa said the authority’s efforts to encourage the affected investors develop the land were unsuccessful, forcing it to withdraw the plots.
The reclaimed plots will be put back on the market for interested bidders to apply.
While at the opening of the Shs320 billion Roofings Rolling Mills (RRM) plant in October, Mr Sebowa appealed to investors with plots in the park to develop them with immediate effect or lose them.
This meant that more land that had been allocated to companies would be reclaimed by the investments body.
Only a few companies including Roofings, Hima Cement and Export Trading Company have set up in the park.