Hamis Kiggundu is a young Ugandan billionaire whose source of income is a mystery to many. He owns a string of businesses across Kampala city including shopping malls, factories, ware houses, arcades and Real Estate. He is also the brain behind Nakivubo Stadium redevelopment which he claims when he completes its construction, it will be one of the best in East Africa. His house located on the shores of Lake Victoria is one of the most luxurious homes in the country. Ham is a smart businessman. Little I formation is known about how he started out. The little information available is that he comes from a wealthy family known for good business acumen.
What puzzles many though is how a young man can be able to become a billionaire in a small economy of Uganda where even the best brains struggle to keep their companies afloat for a few years. Business environment in Uganda is defined by murky waters where only the shrewdest can survive. The known business moguls in the country are above the age of sixty and have built their wealth over the years. Even then, most of them have been struggling with some of their firms collapsing. Whether it is luck or having a great sense of judgement, Hamis is a magnet when it comes to making a fortune.
Ham is smart both in appearance and strategy. One of his latest business venture is a housing estate which he has called Ham Pearl Villas located near Akright estate just next to Entebbe Expressway. He is currently building luxurious homes for sale. Though the place where they are located in a previously marshy area, he reclaimed it and has greatly transformed it. According to his plan which his staff shared with us, he has plans of constructing up to five hundred modern houses. His target are the super rich people who want to live in an exclusive gated communities with all luxurious amenities.
A tour of the finished houses shows a touch of class with maximum refined to detail. Right from the painting to the furniture, the doors, the interior décor and finishing, all combine to bring out the best housing currently on the market in Uganda. The houses though according to the information we obtained don’t cone cheap. Each house which will be sold when it’s fully furnished will range cost in the range of $200,000-250,000. This is by no means a house for the ordinary. Ham is targeting a certain market segment of the well-to-do Ugandans and expatriates or foreigners who would love to invest in the country.
The doubting Thomas are already predicting that this price is too high to be afforded by the market. We were not able to get the details of the business model Hamis used to come up with such type of houses. In a housing market still dominated by poor workmanship and low levels of income, the price at which Hamis seeks to sell the properties seem to be quite on a higher side. But one may never know as some buyers may be induced by the quality which could convince them to buy the units. The houses will be five bedroom storied where the buyer comes with nothing and is given a key for the fully furnished classy structure
Each house has two living rooms with one on the ground floor while the other is upstairs. Each room is self-contained with a separate closet, separate toilet. One of the weak points we identified was that the Master bedroom is rather small in size and is a bit hidden. Though it has a separate balcony, it also has limited lighting due to upward moving adjustable windows. In fact Master bedroom is almost the same size as other rooms which sort of downgrades the whole concept. Downstairs are two bedrooms all self contained with a small maids room making six bedrooms in all. There are two sitting rooms one upper and lower main sitting room. The houses have an open terrace on the upper part. They are located on the lower side of Alright estate just Overlooking Entebbe express highway. They also boast of an open kitchen.
By the time we visited the project, the first five hours were almost complete and ready for purchase and occupation. We wish this project success and look forward to visiting it in future when it’s fully complete. We shall be able to bring you up to speed about its progress in the coming years. For those with the said amount of money it’s your chance to live in a very luxurious setting with the best finishing possible. That is of you have your money. Best of luck to those aspiring to live in this coziness
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