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National Housing and Construction Company


National Housing and Construction Company Limited NHCC, is a Ugandan construction and real estate management company, partly owned by the Uganda Government The Company’s mandate is to increase the housing stock in the country, rehabilitate the housing industry and encourage Ugandans to own homes in an organized environment

Contents

  • 1 History
  • 2 Ownership
  • 3 Asset base
  • 4 Projects as of 2016
  • 5 Recent developments
  • 6 See also
  • 7 References
  • 8 External links

History

NHCC was established by the National Housing Corporation Act of 1964, as a government parastatal The Act was repealed by the 1974 Decree to form the National Housing and Construction Corporation In July 2002, the corporation became a public limited liability company known as the National Housing and Construction Company Limited Later, the Uganda government partially divested from NHCC by selling 49 percent shareholding to the Libyan African Investment Company, an investment company owned by the government of Libya

Ownership

As of October 2016, the shareholding in the stock of NHCC was as depicted in the table below:

National Housing and Construction Company Stock Ownership
Rank Name of Owner Percentage Ownership
1 Libyan African Investment Company LAICO 490
2 Government of Uganda 510
Total 10000

In August 2016, Patrick Ocailap, an official in the Ugandan Ministry of Finance, Planning and Economic Development, indicated that NHCC did not have sufficient funds to meet its obligations New investors are needed to inject new funds to increase the company's working capital In October 2016, the government of Uganda announced its intention to acquire 100 percent shareholding in the company

Asset base

In 2011, NHCC owned assets in excess of US$70 million, with annual turnover of US$6 million NHCC owned 50% of Housing Finance Bank, Uganda's 9th largest commercial bank, as of December 2013

Projects as of 2016

As of October 2016, the following were some of the construction and management projects that NHCC was involved in: 1 Impala Housing Estate, Namungoona, Kampala This is the fourth phase of the Namungoona development, bring the number of planned and completed housing units to 469 2 Bukerere Housing Estate Located in Bukerere, Mukono District, the development is planned to have between 2,000 and 3,000 housing units of 3 to 4 bedrooms each designed with an estimated built up area of 75 square metres 810 sq ft to 150 square metres 1,600 sq ft each A section of this development will consist of three storey flats condominiums intended for upper middle class clients 3 Jasmine Apartments: Three Bedrooms These flats, each measuring 117 square metres 1,260 sq ft, with 3 bedrooms, are located in Naalya, Kira Municipality and are intermixed with retail shops and communal amenities including gardens and rooftop terraces 4 Rwizi View Estate: 2 Bedrooms Located within the city centre of Mbarara, the development consists of two bedroom apartments, each measuring approximately 12576 square metres 1,3537 sq ft 5 Rwizi View Estate: 3 Bedrooms Located adjacent to the 2 bedroom development, the three bedroom apartments have the same approximated living space of 126 square metres 1,360 sq ft

Recent developments

In July 2014, NHCC borrowed US$9 million from Shelter Afrique, a Nairobi-based pan-African finance institution, for the purpose of constructing more affordable housing in Uganda

NHCC owns the twin towers known as Crested Towers in Nakasero, currently housing the headquarters of Stanbic Bank Uganda Limited and the headquarters of the European Union in Uganda, among other tenants According to the CEO of NHCC, as of June 2016, the buildings were valued in excess of USh80 billion approx US$235 million The rent derived from this development is worth USh13 billion approx US$382 million every year, according to the CEO

See also

  • Housing Finance Bank
  • NSSF Uganda
  • Uganda Telecom

References

  1. ^ Ladu, Ismail Musa 3 July 2015 "NSSF Avails Shs40 Billion To Fill Housing Deficit" Daily Monitor Kampala Retrieved 3 July 2015 
  2. ^ a b c Wesonga, Nelson 5 August 2016 "NHCC sells shares to raise capital" Daily Monitor Kampala Retrieved 30 October 2016 
  3. ^ Wacha, Joe 25 February 2013 "NHCC To Build 7,500 Houses For Low Income Earners" Kampala: Uganda Radio Network URN Retrieved 3 July 2014 
  4. ^ a b NHCC 21 February 2018 "History of NHCC" Kampala: National Housing and Construction Company NHCC Retrieved 30 October 2016 
  5. ^ Kyeyune, Moses 10 October 2016 "Government to take over NHCC" Daily Monitor Kampala Retrieved 10 October 2016 
  6. ^ NHCC 30 August 2016 "Impala Housing Estate Launch" Kampala: National Housing and Construction Company NHCC Retrieved 30 October 2016 
  7. ^ NHCC 30 August 2016 "Bukerere Housing Estate" Kampala: National Housing and Construction Company NHCC Retrieved 30 October 2016 
  8. ^ NHCC 30 August 2016 "Jasmine Apartments: Three Bedrooms" Kampala: National Housing and Construction Company NHCC Retrieved 30 October 2016 
  9. ^ NHCC 30 August 2016 "Rwizi View Estate: 2 Bedrooms" Kampala: National Housing and Construction Company NHCC Retrieved 30 October 2016 
  10. ^ NHCC 30 August 2016 "Rwizi View Estate: 3 Bedrooms" Kampala: National Housing and Construction Company NHCC Retrieved 30 October 2016 
  11. ^ Gachiri, John 21 July 2014 "Shelter Afrique In KSh790 Million Deal With Uganda Firm" Business Daily Africa Nairobi Retrieved 21 July 2014 
  12. ^ Administrator 20 July 2014 "Shelter Afrique Extends $9 Million Loan To Uganda" Kenya Broadcasting Corporation Retrieved 21 July 2014 
  13. ^ Baguma, Raymond 21 July 2014 "National Housing Signs Pact for Affordable Houses" New Vision Retrieved 22 July 2014 
  14. ^ Ali, Twaha 22 June 2016 "Uganda: Auditor General Questions Value of Crested Towers" The Observer Uganda via AllAfricacom Kampala Retrieved 30 October 2016 

External links

  • NHCC Homepage


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