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Chinese Investors Seek Opportunities in Uganda’s Real Estate

Chinese Investors Seek Opportunities in Uganda’s Real Estate

Chinese investors have expressed interest to enter the real estate business in Uganda’s capital city, Kampala, New Vision reported.

A team of Chinese entrepreneurs asked to partner with Kampala Capital City Authority (KCCA) in the real estate business during a visit to the office. The delegation is in the east African coffee producing country for a Forum on China- Africa Local Government Cooperation.

The team of 100 Chinese delegates, including mayors, entrepreneurs and governors, are in the Kampala to explore business opportunities in the east African Nation as the Asian giant seeks to extend its influence in Africa, which has turned eastward for investments.

KCCA executive director Jennifer Musisi said that the Chinese had found a lot of business opportunities in Kampala which they feel they can get involved in.

“We want to know if there is a way of engaging in real estate’s development mortgage, we want to know what it takes and how much revenue is required,” inquired Xuemei Li, chairman of the board of the Shaanxi Overseas Investment and Development Company. Li also expressed interest in the roads construction industry.

Musisi told the team that there are several areas in which KCCA requires public private partnerships in development of schools, markets, infrastructure, street lighting, transportation and sanitation management.

“We are looking for partner in the centralization of the city transport system in Kampala”, Musisi said, referring to the popular use of motor cycles (boda boda) in the Country as a cheap means of transport.

The director engineering and technical services, Andrew Kitaka, said the east African city had received funding from the World Bank to develop 50 junctions and traffic control centers from next year.