National Social Security Fund (NSSF), a leading social service provider in Uganda is today June 28, scheduled to commission its first ultra modern complex outside Kampala, in the Eastern town of Jinja.
The state of the art building whose construction was commenced on April 20, 2016 is a four-floor complex and has a total built up 1,500 square meters, of which 1,200 square meters is rentable space, and contains 50 parking slots.
The project is a mixed use development project with commercial facilities including office space and retail shops.
The commercial building is located on Plot 2-4 Lubas road in Jinja town and its designs and finishes are arguably the best in the town.
While commissioning the start of the construction in April 2016, NSSF managing director, Richard Byarugaba, said that the project was in line with the Fund’s strategy of unlocking the value of its real estate investments to increase its earnings.
“It is also in line with the Fund’s investment policy that enjoins us to undertake investments in income generating commercial properties located in major Uganda cities or towns that are expected to produce an attractive return over the long term period. We are glad to have this modern structure here in the heart of Jinja which will bring numerous opportunities to the local economy,” Mr Byarugaba said.
The newly constructed Shs 3.3 billion complex is the first of its kind to be developed and completed by NSSF outside Kampala. Construction of a similar ultra modern multipurpose project worth Shs 3.9 billion is underway in Mbarara and its completion is estimated for December this year.
The other real estate projects being developed by the Fund include the shs14bn housing project in Mbuya and the 2,741- unit high end housing project in Lubowa. The Fund also plans to set up a 5,000-unit affordable residential housing estate in Wakiso.