Publication: 18:58, 02.05.2020No. of the advertisement: 2119
What is your idea / business and to whom is it addressed?
Wai Housing Company is proud to announce the New African Village, a proposed real estate development project comprising of 14 Single Family Housing units, to be constructed in a well-planned site with access to infrastructural facilities and services like roads, water and electricity. The house designs have been tailored to meet the affordability constraints of the targeted households and will offer state-of-the-art living conditions reflective of the rapid advancements in technology. Wai Housing Company is a limited liability company duly incorporated under the laws of the Republic of Uganda and run by a team of energetic and dynamic professionals qualified and experienced in different fields of operations such as architecture, survey, legal and advisory. Our goal is to pool like-minded investors to invest in the development of residential real estate projects in Uganda with the intent of selling the properties for a profit.
How should the idea/business earn money?
The Project involves buying Land in established subdivisions and developing the residential properties for Sale. It is estimated that $1 (US Dollar) will be exchanged at UGX 3,800 (Uganda Shillings). Therefore using the Ugandan Shillings, it is estimated that the total revenue from the sale of the 14 housing units will be UGX 2,340,800,000 which translates to $616,000. Targeted return on investment is 20% and we also estimate that the total cost of the entire project to be 1,762,269,000 which translates to approximately $464,000. Turnaround time is just 8 months. Construction of the project will take 4 months and upon completion, sales of the houses will last 4 months. Profits will be shared equally among investors depending on their investment.
At what stage is the idea / business at the moment?
The company has already identified a suitable site for construction located in Wakiso town council, a highly desirable municipality of the greater Kampala district, and as a company, our contribution is to manage the construction and sale of the housing units ensuring that investors get their return on investment and in time. The team will strive to work as a cohesive unit focused on exemplifying our mission of satisfying both customer and investor.
What do you need?
We are looking for investor/s to raise $464,000 to finance the land purchase, building material and initial related costs of developing the project. Minimum investment is $1,000.
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