View of Mbarara City from the Mahembe gente roundabout. PHOTOs/JULIUS BYAMUKAMA
Real estate plays a crucial role in the development of any city, and Mbarara is no exception, holding significant potential for growth. Emmanuel Turinawe is among the young people seizing the opportunity to influence the city's future. As the co-founder of Abet Realtors, Turinawe began his career at Mbarara’s leading real estate firm, Amity Realtors, shortly before the pandemic.
His experience there highlighted the need for innovation in the property sector. After completing his studies at Mbarara University of Science and Technology, Turinawe launched his own firm, Abet Realtors.
Despite the expectation that the real estate industry would appeal to young job seekers, Mbarara's sector was historically dominated by older men with basic educational backgrounds. During that period, the industry had limited career paths and offered few opportunities for professional growth. This lack of structure and advancement prospects may have led younger, educated individuals to view the field as stagnant and unappealing compared to other professions with more dynamic opportunities.
However, the landscape is changing. With the introduction of clearer career pathways and professional development programmes, the real estate sector is becoming more attractive to younger professionals. The industry is now presenting new opportunities for career advancement and innovation, which are appealing to a younger, educated workforce seeking meaningful and progressive career options.
Turinawe believes that this shift marks a pivotal moment for the real estate industry in Mbarara. As the sector evolves and opens up to new ideas and approaches, it provides an ideal environment for young people to take on leadership roles and drive the industry's future.
The city will benefit greatly from the innovative thinking of younger generations, who bring possibilities for collaboration, tolerance, and sustainability. These qualities are essential for shaping the city's future in a new and diverse way.
"We need young people to infuse fresh energy and perspectives into real estate, creating spaces that will meet the needs and desires of people in the 2030s and beyond," Turinawe, who graduated in 2021, observes.
Opportunities
Mbarara City is one of the emerging real estate markets that are experiencing rapid growth and development, making it attractive for investors looking to capitalise on potential opportunities. The city is experiencing a combination of demographic changes, economic growth, and increasing demand for properties. Turinawe, who has spent five years in the industry, notes that the community is somewhat unaware of the role and value of real estate developers. This is particularly true for clients who hope to acquire a plot in the city centre but have limited funds.
He explains, "Some clients come from rural areas, having saved up their modest amounts, such as Shs7m. They come hoping to buy a plot in the city, but in reality, that amount only buys a plot several kilometres away from the city centre. With that amount, they can only afford a plot in areas like Biharwe, Masha, Isingiro Road, or Kaberebere."
Turinawe aims to assist these clients in finding what they need. He takes the time to explain that, as the city grows and expands, their modest investment will increase in value. The firm has also acquired properties on the city's outskirts, with 50x100 plots valued at Shs25m.
The significant role of real estate to communitiesDM bodytext: Turinawe notes that real estate professionals have made the process safer and easier for the community by conducting thorough due diligence before putting land up for sale, which helps reduce land disputes.
"We do not just buy; we first research the land and consult the area chairperson," he explains, contrasting this with past practices where people bought land without involving surveyors.
He also highlights that real estate companies now offer more flexibility to clients, allowing them to pay in installments; daily, weekly, or monthly; rather than requiring the full payment upfront.
"Now, you can acquire land without needing to pay the full amount at once, which was the previous requirement," he adds.
The future of real estate
Turinawe says Mbarara is headed in the right direction. “Ongoing and planned improvements in infrastructure, such as roads, utilities, and public services, will enhance the attractiveness of Mbarara for real estate investment. Better infrastructure supports property values and encourages both local and foreign investment,” he says.
Why real estate firms?
Turinawe says choosing to trust a real estate firm over an individual can offer several advantages. Real estate firms typically employ professionals with extensive experience and specialised knowledge, ensuring clients receive well-informed advice and services. They provide a range of services beyond buying and selling properties, including market analysis, property management, legal assistance, and financial planning.
Firms are usually well-versed in local regulations and compliance requirements, reducing the risk of legal issues. They have access to a broad network of industry contacts, such as lenders and inspectors, which can facilitate smoother transactions and offer advanced tools and technologies for property analysis.
“My firm for instance has built a reputation on positive client experiences and we hold ourselves accountable to industry standards. We offer structured customer support with dedicated agents and teams to assist with issues. We also have legal and financial safeguards to protect clients from potential issues or disputes,” he says.
Pricing
Turinawe explains that real estate companies in Mbarara do not have a formal trade union to standardise pricing, despite the community's limited understanding of the local real estate market.
"Prices for different areas are generally set by market forces, and clients are aware of these prices. Our role is primarily to guide the community on the market values of various areas. I believe that Mbarara would benefit from a unified real estate association to give us a collective voice. However, the challenge is that competition is fierce, and the market is large enough that even with 100 companies, there is room for everyone. A united effort could help address some of these issues," Turinawe notes.
Advice
Turinawe urges young people to take an active interest in the real estate industry, whether by investing in property or becoming informed consumers. He emphasises the importance of seizing the opportunity to invest in land.
"Now is the ideal time to act," he says. "With whatever savings you have, consider purchasing a piece of land. Land is a valuable asset that remains constant in value; it doesn’t depreciate like other investments might. Unlike other commodities, land is a finite resource that only increases in value as demand grows."
Turinawe believes that land represents a long-term investment with significant potential for appreciation. He advises young people to start small and gradually build their real estate portfolio.
"Getting into the real estate market now can set you up for future financial stability," he explains. "Land holds intrinsic value and can be a stable investment, especially in a growing city such as Mbarara. By taking this step, you are securing an asset that will serve you well for years to come."
