Uganda drafts real estate bill to professionalise property sector

20 November 2024, 3:15 pm

By Ronald Ssemagonja

The Minister of State for Lands, Hon. Sam Mayanja, delivered opening remarks at the stakeholder consultative workshop on the Draft Real Estate Bill, 2024, held at Igongo Country Hotel, Mbarara City on November 19, 2024. He emphasised the need to professionalise Uganda’s real estate sector, which significantly contributes to the country’s GDP and provides livelihoods for many Ugandans. Hon. Mayanja highlighted the critical role of local land brokers, while noting that the lack of formal regulation has sometimes allowed unethical practices to tarnish the industry’s reputation.

The Minister outlined the key objectives of the Real Estate Bill, 2024, which seeks to establish a regulatory framework to ensure transparency, accountability, and professionalism. Key provisions of the bill include; Mandatory registration: All real estate agents and brokers will be required to register with the Ministry of Lands, Housing, and Urban Development and obtain practicing licenses. This aims to enhance credibility and reduce fraudulent practices. Professional code of ethics: The bill proposes clear standards of conduct for agents, ensuring integrity, honesty, and fairness in their dealings with clients. Regulation of real estate development: Standards will be introduced for sustainable and lawful property development to prevent illegal construction and environmental harm. Addressing unethical practices: The bill aims to eliminate unprofessional and unscrupulous behavior in the sector by enforcing regulations and promoting professionalism.

Minister Mayanja also emphasised the government’s commitment to balancing regulation with fostering innovation and ensuring that smaller operators can thrive. He called on participants to contribute ideas that will help shape a fair, practical, and inclusive law. He urged stakeholders, including land brokers, developers, investors and government officials, to provide input to refine the bill.

In his conclusion, the Minister stated that the Real Estate Bill, 2024, represents a transformative opportunity to create a trustworthy, efficient and professional real estate market in Uganda. He encouraged active participation in the discussions to build a sector that supports sustainable development and benefits all Ugandans.

Additionally, the First Deputy Prime Minister of Uganda, Rt. Hon Rebecca Alitwala Kadaga, has appealed to the residents of Kasaato village in Kidera subcounty, Buyende district, not to sell their land until the government develops a clear resettlement and compensation action plan. Ms. Kadaga made this appeal yesterday while officiating at the launching of the Resettlement Action Plan study in Kasaato village. The event was organised by the Ministry of Energy and Mineral Development. This appeal comes at a time when the government of Uganda has conducted studies and proposed Uganda’s nuclear power roadmap. Buyende district is one of the potential sites identified for development.