By Aggrey BabaUganda’s growing housing deficit, estimated at nearly 3 million units, has prompted a new strategic alliance between Housing Finance Bank (HFB) and Pearl Marina Estates aimed at making homeownership more affordable and accessible.
The two entities on Tuesday, 26th August, signed a Memorandum of Understanding (MOU) in Kampala that is expected to transform the housing finance landscape by combining HFB’s mortgage expertise with Pearl Marina’s innovative real estate development projects.
Under the partnership, HFB will extend tailored mortgage financing solutions, while Pearl Marina will provide modern housing options designed for aspiring homeowners. The collaboration seeks to ease the journey of property acquisition, from selecting the right home to securing affordable financing.
Mr. Michael Mugabi, HFB Managing Director, said the deal underscores the bank’s mission of “financing a sustainable future for all,” noting that the initiative is meant to create a resilient housing ecosystem in Uganda. He added that together, they’re are building a platform that supports Ugandans throughout their homeownership journey (from property identification to deal structuring and financing).
John Baptist Kaweesi, HFB’s Head of Mortgages and Consumer Banking, emphasized the scale of the challenge, saying Uganda’s 3 million-unit housing gap presents both “a challenge and an opportunity.” He said the bank is determined to close this gap by making mortgages more accessible to ordinary Ugandans.
Pearl Marina Estates General Manager, Piyush Dixit, hailed the deal as “a bold step towards shaping the future of real estate in Uganda,” stressing that the collaboration would accelerate growth, unlock synergies, and deliver meaningful impact to households.
The agreement is being billed as more than just a financial arrangement, as it represents a model of public-private sector collaboration that could influence the direction of Uganda’s real estate industry. Both partners expressed confidence that the partnership will create lasting value for clients while contributing to the broader economy. (For comments on this story, get back to us on 0705579994 [WhatsApp line], 0779411734 & 041 4674611 or email us at mulengeranews@gmail.com).
