Uganda is stepping up efforts to unlock new sources of financing for its property sector, with the Capital Markets Authority Uganda turning the spotlight on Real Estate Investment Trusts (REITs) as a viable path forward.
At a high-level breakfast meeting held in Kampala, the regulator brought together business leaders, valuers, government officials and property owners to examine how REITs could reshape the way real estate projects are funded and owned.
Chief Executive Officer Josephine Okui Ossiya made a strong case for the model, describing REITs as a practical tool that could open up property investment to a wider pool of Ugandans. She noted that, beyond easing access to capital, REITs can improve transparency in the sector while giving ordinary investors a chance to earn from large-scale developments that would otherwise remain out of reach.
Legal clarity also took centre stage during the discussions. Alison Kwikiriza outlined the regulatory framework guiding REITs, offering reassurance that the legal groundwork is steadily taking shape to support market growth and investor confidence.
From a market development perspective, Leonard Businge pointed to REITs as a potential engine for deeper capital markets. He highlighted their ability to mobilise long-term funding, particularly for housing and infrastructure—two areas where financing gaps remain significant.
Even so, participants were clear that regulation alone will not guarantee success. For REITs to gain traction, projects must be commercially sound and aligned with local market realities, including demand patterns and investor expectations.
The meeting forms part of CMA’s broader “CMA@30” agenda, which aims to build a market that works in practice—not just on paper. The focus now is on creating an ecosystem that balances strong oversight with real opportunities for investors and developers alike.