Kampala — Real estate developers look at the year 2012 as the best performing year compared to other years in the sector.

It is when it registered good performance with a number of commercial and accommodation buildings set up despite there still being a housing deficit. Uganda has a housing deficit of over 560,000 housing units which will widen, if measures to curb the current population growth rate of 3.3% are not undertaken.

Uganda's minister of housing in the ministry of Lands housing and urban development says that the country may experience a housing deficit which is expected to hit 8million housing units by the year 2020 if no adequate measure are put in place to address the widening gap.

Sector players who spoke to East African Business Week noted that the amount of housing projects that were set up outnumbered those of 2011. They attributed it to the foreign real estate investors who joined the industry last year.

"The sector attracted many foreigners like the Kensington Luxury Homes, Nationwide Properties and many others. Their coming on board led to the development of the housing sector since demand for houses has gone up for Ugandans in middle income class.

"They prefer buying finished houses instead of hiring construction firms to construct for them," said a source at Jomayi Property Consultants who spoke to East African Business Week on condition of anonymity.

The source added that the number of housing units /real estate's projects that were to be constructed in 2012, majority have been completed especially for the residential buildings.

Those that were completed last year were 149 housing units Kensington Homes in Kyanja (east of Kampala City), Royal Palms Village of Nationwide Properties in Butabika Village in Luzira city suburb, National Housing and Construction Company Estates of Regina Phase 2, Kinwana Apartments, Naalya Pride Apartments among other projects.

Last year also saw the accomplishment of Mapeera House, one of the tallest buildings in Kampala City owned by Centenary Bank, a number of shopping malls and arcades also sprung up. The construction and opening of the largest single super market in East Africa; Omega Supermarket was also realized in the year.