Hoima emerges as Uganda's next real estate frontier, Broll research finds
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New Broll Uganda research presented at the 25th African Real Estate Society conference in Kampala identifies Hoima as Uganda's most promising next property frontier as oil and gas activity reshapes its economy.
Hoima City is emerging as one of Uganda's most promising real estate frontiers as growing oil and gas activity, infrastructure development and rising commercial demand reshape the city's economic outlook, according to new research by Broll Uganda.
The research was released during the 25th African Real Estate Society (AfRES) annual conference at Speke Resort Munyonyo in Kampala, held under the theme “Transforming African Real Estate for Sustainable Growth and Innovation” and bringing together researchers, investors, policymakers, developers and property professionals from Uganda and across Africa.
Broll Uganda managing director Moses Lutalo said the country's economic centre of gravity is gradually broadening towards regional cities, with Hoima standing out because of its expanding role in the oil and gas economy, which is creating associated demand for housing, commercial space and other real estate services.
The report says demand is likely to extend beyond residential accommodation to offices, retail centres, hospitality facilities, logistics and industrial property, serviced accommodation and supporting infrastructure, linking real estate demand to the expansion of the city's economic base. It argues the key question is whether Hoima can develop a diversified and sustainable property ecosystem capable of supporting a growing population and workforce.
Michael Mwizerwa, head of research at Broll Uganda, said the report aims to give investors, developers and policymakers a data-led view of Hoima's trajectory, from land values to emerging logistics and industrial demand. “Hoima is where Uganda's next real estate cycle is being written, and capital cannot price what it cannot see,” he said. The research concludes that developers who understand the city's economic drivers and identify underserved property segments could be better positioned than those simply following the excitement around the oil economy.