The development of Nakawa-Naguru Estate into a modern satellite city is set to kick off with investors pledging to inject at least Shs3.87 trillion into the project.
Speaking at the launch of the estate’s official master plan, titled New Kampala, the developers, Opecprime Properties, said all the necessary financing required for the ‘magnificent’ apartments had been secured.
The developers also said they were only awaiting for Kampala Capital City Authority to approve their plan and make recommendations.
“Official work started at the beginning of this year but the ground-breaking will happen anytime once we get approval from the authorities,” Mr Hassan Kimbugwe, the executive director of OpecPrime, said yesterday at the Irish Embassy.
Mr Kimbugwe said it was too immature to judge the project as a failure because the housing site was officially handed over to them late last year- amid bureaucracy.
The much anticipated project, that has dragged on for nine years since its proposition, is expected to stand out from every city’s vantage point, according to the architectural designs and artistic impressions that were displayed.
“We shall start with over 1,000 apartments for the tenants who were evicted,” Mr Des Twomey, the director of PLUS Architecture, the designer of the plan, said.
The housing project, which will be developed in partnership with the Irish property company, Comer Group, is expected to be completed in 10 years.
According to the project consultants, it also delayed because more than 20 consultants worldwide were working on the project map.
Mr Elly Karuhanga, the legal counsel to the project, denied reports that several wealthy people, including senior government officials and bureaucrats were buying interests in the planned estates from sitting tenants at throwaway prices.
Mr Karuhanga said they were building a city for every social inclusion that won’t require any status whatsoever to stay in.
“The apartments will be sold at market price, so let there be no cause for worry,” he said.