Akright Projects Limited
| Private | |
| Industry | Real Estate & Construction |
| Founded | 1999 |
| Headquarters |
Kakungulu Housing Estate Kampala-Entebbe Road Bwebajja, Uganda |
Key people |
Anatoli Kamugisha Managing Director & CEO |
| Products | Planned, Organized Residential Housing Estates |
| Website | Homepage |
Akright Projects Limited (APL), is a privately owned real estate development company in Uganda, the third-largest economy in the East African Community. It is a leading property development company in the country.[1]
Overview
APL is the largest indigenous property development company in Uganda.[2] Typically, Akright employs the following mode of operation in its quest to build planned, organized residential communities, known as "Satellite Cities": (a) Identify an area of potential planned residential real estate development (b) Acquire the land (c) Plan the development; including roads, schools, shops, recreational areas and residences (d) Bring the three main utilities (electricity, water and sewerage) to the planned estate and make them available to each demarcated plot of land (e) Selling demarcated plots of land to interested end users (e) Work with pre-approved contractors and the end users to erect residences that meet pre-set standards and community norms.
History
In 1990, Anatoli Kamugisha founded his first company Kanoblic Group Limited, a real estate construction business. He borrowed money from friends to register his business. He won construction contracts from several reputable firms, including Sugar Corporation of Uganda Limited (SCOUL) and the Norwegian Forestry Society (NFS).[3] In 1999, he closed down Kanoblic and started Akright Projects Limited, a company that plans, designs and constructs organized residential communities (satellite cities), in or near urban centers in Uganda, as an alternative to the mushrooming slum problem in Uganda's cities and towns.[4] The shares of stock of Akright are owned by Anatoli Kamugisha and members of his family. The majority of senior managers in the company are also family members.[5]
Scope of work
As of November 2014 the following real estate projects have either been completed or are in development by the company:
- Akright Namanve Housing Estate - Namanve
- Akright Namugongo Housing Estate - Nsasa
- Akright Kirinnya Housing Estate - Kirinnya
- Akright Lubowa Housing Estate - Lubowa
- Akright Kakungulu Housing Estate - Bwebajja
Kakungulu Housing Estate
In 2002, Akright acquired 2 square miles (1,300 acres) of land from the descendants of Prince Badru Kakungulu for the development of the company's largest planned housing estate in the country todate; Akright Kakungulu Housing Estate. It is located at Bwebajja, approximately 18 kilometres (11 mi), by road southwest of Kampala, Uganda's capital, along Kampala-Entebbe Road.[6][7]
See also
References
- ↑ Batte, Edgar (9 July 2014). "Ways You Can Buy A House From Agents". Daily Monitor (Kampala). Retrieved 28 November 2014.
- ↑ Kimbowa, Joseph (22 October 2013). "Kenya Commercial Bank Boosts Real Estate Industry". The Observer (Uganda). Retrieved 28 November 2014.
- ↑ Akright, . "Background To Formation of Akright Projects Limited". Akright Projects Limited (Akright). Retrieved 28 November 2014.
- ↑ Kulabako, Faridah (10 March 2014). "Real Estate Entrepreneur". Daily Monitor. Kampala. Retrieved 28 November 2014.
- ↑ Odyek, John (6 April 2011). "Running A Successful Uganda Family Business". New Vision Quoted by "Africa Uganda Business Travel Guide". Kampala. Retrieved 28 November 2014.
- ↑ w'Ouma, Wandera (14 July 2006). "Uganda: Museveni to Launch Kakungulu Estate Today". Daily Monitor (Kampala) via AllAfrica.com. Retrieved 28 November 2014.
- ↑ Kisambira, Edris (17 April 2006). "Uganda: Shelter Afrique, Akright In US$8.5 Million Housing Deal". East African Business Week via AllAfrica.com. Kampala. Retrieved 28 November 2014.
