Housing Finance Bank (HFB) and Pearl Marina Estates have signed a Memorandum of Understanding (MOU) to open a new chapter in Uganda’s real estate and housing finance sector. The partnership is expected to make homeownership easier, more affordable, and more sustainable for Ugandans, while also boosting investment in real estate development.
The deal was signed this week in Kampala, with senior executives from both institutions stressing that the alliance will combine financial solutions with innovative property development to tackle Uganda’s housing deficit, which experts estimate at about three million units.
Michael Mugabi, the Managing Director of Housing Finance Bank, said the partnership fits perfectly into the bank’s mission. “At Housing Finance Bank, our purpose is financing a sustainable future for all. This partnership with Pearl Marina Estates aligns seamlessly with that vision by enabling sustainable homeownership and supporting real estate development across the country,” he said.
According to him, the collaboration is designed to create “a resilient ecosystem of professional real estate services,” meaning customers will enjoy a full package — from finding the right property to negotiating deals and accessing affordable mortgage financing.
The agreement also sets a framework for the two organizations to explore innovation in housing finance. The approach will focus on data-driven insights, customer-friendly solutions, and operational efficiency, all aimed at ensuring ordinary Ugandans can access housing finance without unnecessary barriers.
Pearl Marina Estates, which has been active in high-end property development around Lake Victoria and other parts of Uganda, praised the collaboration. Its General Manager, Mr. Piyush Dixit, described it as a bold move to shape the future of Uganda’s housing sector. “This is more than just a financial arrangement; it is a bold step towards shaping the future of real estate in Uganda. We believe that by combining our strengths, we can accelerate growth, unlock synergies, and deliver meaningful impact to aspiring homeowners,” he said.
The partnership also reflects the urgent need to close the country’s housing gap. At the event, Mr. John Baptist Kaweesi, Head of Mortgages and Consumer Banking at Housing Finance Bank, highlighted the challenge ahead. “Uganda’s housing deficit, currently estimated at about 3 million units, presents both a challenge and an exciting opportunity. Through this partnership, we are positioned to bridge this gap by making mortgages more accessible and enabling more Ugandans to realize their dream of homeownership,” he explained.
Analysts note that Uganda’s fast-growing population, now estimated at more than 48 million people, is putting pressure on the housing market. Urbanisation in Kampala, Wakiso, Entebbe, and other major towns is pushing demand higher, while supply remains low due to high land costs, limited financing options, and slow development processes.
Housing Finance Bank, which has been in operation for more than 50 years, is one of the country’s leading providers of mortgages and housing loans. Pearl Marina Estates, on its part, is part of Centum Investments, a Nairobi-based investment firm with projects in Uganda and Kenya. Their partnership signals stronger regional collaboration in real estate development.
Both organisations pledged to deliver seamless service, combining the financial strength of the bank with the property expertise of the developer. They expressed confidence that the MOU would not only support homebuyers but also stimulate growth in construction, jobs, and the wider economy.
The signing ceremony ended with commitments from both sides to fast-track implementation. Executives emphasised that real estate is not just about buildings but about community development, sustainability, and dignity in housing.
If successfully rolled out, the partnership is expected to set a new benchmark for how banks and developers can work together to solve Uganda’s housing challenges, giving families across the country a chance to own decent homes.
