Experts seek to tap into technology, innovation to cut construction costs
A panoramic view of Kampala City from the Gaddafi Mosque in Old Kampala
What you need to know:
- According to the UN-Habitat, the cost for housing should not exceed 30 per cent of the total household income. Despite the increase in investment in the segment, supply has not been sufficient enough to meet the growing demand
Increasing land prices, high cost of construction materials, limited access to funding opportunities, high costs of borrowing, limited mortgage opportunities and affordable housing stock are some of the issues that the construction sector players continue to routinely grapple with, according to sector report.
With a population growth rate of 3.3 per cent and an urbanization rate of 5.67 per cent, the current estimated population of 44 million people indicates a housing shortage of slightly more than 2.4 million units, with 210,000 in urban areas and 1.395 million in rural areas, necessitating an estimated 300,000 housing units annually to reduce the housing gap.
According to the UN-Habitat, the cost for housing should not exceed 30 per cent of the total household income. Despite the increase in investment in the segment, supply has not been sufficient enough to meet the growing demand.
Perturbed by situation, Uganda National Association of Building and Civil Engineering Contractors (UNABCEC), an umbrella body for Contractors in Uganda's Construction Industry, in partnership with Exhibition and Trade Services India and Futurex Trade Fair and Events are in the forefront of trying to find a “vaccine” to the country’s construction ailment.
Innovation that will be showcased following the meeting of minds at the Uganda's largest building and construction international exposition, is one of the important prescription in an attempt to solve many of the teething sector challenges, a position the Ministry of Lands, Housing and Urban Development as well as the Uganda Manufactures Association (UMA) not only confers with but willing to support.
According to a statement by Buildcon, an international construction sector exhibitor, its experience in countries such as Nepal, Sri Lanka and Bangladesh demonstrates the importance of innovation, collaboration and showcasing industry potential in attracting or providing professional platform for networking, investment, and the exchange of ideas and information to pressing issues in construction and building materials sector.
Despite the recent upsurge in inflation, the sector has remained on a steady path of growth and development.
