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Construction well underway at Jakana Heights
September 19, 2015Article by Clare Moorhouse
Construction is well underway at Jakana Heights in Uganda. The up-market development overlooking Lake Victoria in Kampala is expected to complete October 2017 and is already making significant headway.
Construction began even before we launched the property to the market. The site has been graded, septic tanks installed, electricity and water connected and the marketing office has been constructed. Last week workers were building the boundary walls to the development.
Property prices at this stage of a development are highly appealing for investors as capital growth is rising even as the units are being constructed. Not only that, but off-plan buyers can enjoy a 35% discount to market value and acquire their property with 4 instalments over the course of the construction process, with the last payment only made upon completion.
Luxury hilltop living
Situated in one of the city’s premier locations, Jakana Heights is well located for Kampala’s central business district and Entebbe International Airport. The plot is at the highest point in Konge Hill with a 180 degree view of the surrounding neighbourhood. All apartments have elevated views and some enjoy a stunning outlook to Lake Victoria. The development comprises one, two and three bedroom apartments ranging from 675 sq. ft. for a one bed, and up to 1894 sq. ft. for a 3 bed. Prices start from just $80,000 USD, with yields in the region of 15% NET expected.
The apartments are all fitted with high specification appliances and a selection of furnishing styles are available to appeal to either the local or expatriate market. Not only that, but we’re offering a free parking space for the first 5 reservations!
The immediate neighbourhood is dominated by an affluent residential area of modern houses, many only recently built and others under construction.
Highway on track
The Kampala-Entebbe Expressway, the road that links the property to the international airport at Entebbe is also under construction. The existing road is too narrow, congested and poorly suited to handle the heavy traffic traversing it. Once complete, in 2017, the road will ease movement from Kampala to Entebbe International airport and lessen traffic congestion on the old Kampala-Entebbe Road, making the journey time from Jakana Heights to Entebbe Airport just 20 minutes.
With prices significantly below market value and excellent capital growth potential whilst construction continues, these apartments are a scarce piece of real estate for the savvy investor. To find out more about Jakana Heights, call +44 1865 202 700 and request an information pack.