Our Performance
CIO's business review
Real estate: Development-led strategy anchored in housing demand
Real estate is, by its nature, a long-term asset class, valued not only for its capacity to deliver stable income, but also for its role in shaping the physical and economic landscape over generations. As the Fund commemorates its 40th anniversary, its real estate journey stands as a hallmark of enduring value creation.
Over the decades, NSSF Uganda has delivered a wide range of commercial and residential developments that have enhanced member returns while supporting national urbanisation and housing goals (Table 1). Signature projects have included Workers' House (completed in 2001), Social Security House (purchased in 2002), and Pension Towers (ongoing) in Kampala. Regional investments have included City House in Jinja (completed in 2018) and Mbarara City House (completed in 2019).
In the housing segment, the Fund has rolled out both high-end and affordable developments, including Citadel Place in Mbuya (completed in 2019 and sold out in 2024), Solana Lifestyle and Residences in Lubowa (on sale), and the Kyanja Off-Taker Project (ongoing). More recently, the ongoing Temangalo Housing Project has reaffirmed the Fund’s long-term commitment to large-scale, inclusive urban development.
Project Name |
Type |
Location |
Key Features |
Development Status |
|---|---|---|---|---|
|
Project Name
Mbuya I
|
Type
Residential/High-End
|
Location
Mbuya, Kampala
|
Key Features
6 villas
|
Development Status
Completed and sold out
|
|
Project Name
Citadel Place
|
Type
Residential/High-End
|
Location
Mbuya, Kampala
|
Key Features
Modern 40 high-end apartments; luxurious urban setting including clubhouse and swimming pool.
|
Development Status
Completed and sold out
|
|
Project Name
Solana Lifestyle and Residences
|
Type
Residential/High-End
|
Location
Lubowa, Kampala
|
Key Features
600 acres; Planned community of 3,000 units including villas, bungalows, penthouses, townhouses, and apartments.
|
Development Status
Phase 1 (306 units) complete on 40 acres; On sale
|
Project Name |
Type |
Location |
Key Features |
Development Status |
|---|---|---|---|---|
|
Project Name
Temangalo Housing Project
|
Type
Residential/Affordable
|
Location
Temangalo, Wakiso District
|
Key Features
463.87 acres, total of 3,500 units planned; Phase 1 includes 550 units (200 bungalows, 100 townhouses, 50 villas, 200 apartments)
|
Development Status
Launched in 2021; progress at 55%; targeted completion for Phase 1 by end 2026
|
|
Project Name
Off-Taker Project (Kyanja)
|
Type
Residential/Middle Income
|
Location
Kyanja, Kampala
|
Key Features
160 housing units/apartments.
|
Development Status
Ongoing, projected completion by end 2027.
|
|
Project Name
Workers’ House
|
Type
Commercial
|
Location
Kampala
|
Key Features
NSSF headquarters; mixed-use government-grade tower. Lettable area of 15,000 square meters on 14 floors.
|
Development Status
Completed in 2001
|
Project Name |
Type |
Location |
Key Features |
Development Status |
|---|---|---|---|---|
|
Project Name
Social Security House
|
Type
Commercial
|
Location
Kampala
|
Key Features
Office complex with a lettable area of 6492 square meters on 5 floors.
|
Development Status
Purchased in 2002
|
|
Project Name
Naguru House
|
Type
Commercial
|
Location
Plot 5, Muvule Close, Naguru, Kampala.
|
Key Features
Office property.
|
Development Status
Purchased and leased out.
|
|
Project Name
City House (Jinja)
|
Type
Commercial
|
Location
Jinja City
|
Key Features
NSSF offices and commercial space. Lettable area of 1053 square meters across 4 floors.
|
Development Status
Completed (2015–2018)
|
Project Name |
Type |
Location |
Key Features |
Development Status |
|---|---|---|---|---|
|
Project Name
Nsimbe Estate
|
Type
Residential/High-End
|
Location
Nsimbe, Mpigi District
|
Key Features
1,000 housing units planned, including apartments and villas; golf course and leisure facilities.
|
Development Status
Land acquisition complete; development on hold pending partnerships.
|
|
Project Name
Pine Apartments
|
Type
Residential/High-End
|
Location
Kololo, Kampala
|
Key Features
27 luxury apartments with high-end finishes; ample parking and security features.
|
Development Status
Completed and leased.
|
|
Project Name
Workers’ House Annex
|
Type
Commercial
|
Location
Kampala
|
Key Features
Extension of the NSSF headquarters to provide additional Grade A office space.
|
Development Status
Planned; awaiting final approvals.
|