President Yoweri Museveni has said that the construction of an environment friendly Real Estate complex along the shores of Lake Victoria, is a good concept and offers an opportunity that should be supported and embraced entirely.
The President was meeting with a group of seven investors from Inter-Build East Africa Ltd who called on him at State House, Entebbe. The investors are committed to building a Real Estate venture valued at approximately US$2 billion along the shores of Lake Victoria stretching up to 5 square kilometres in a period of 6 years.
According to the proprietors who were led by Managing Director and Chairman of Inter-Build East Africa Ltd, Mr. Quraish Issa Kiggundu, the project will comprise hotels, mid class homes and apartments, commercial complexes and office parks, international rated attractions, education and health care facilities, among others, all to be established under an ecosystem friendly environment, providing over 5,500 job opportunities.
The President told the group that Lake Victoria shores are not fully utilized and to preserve the environment around the water-body of the lake, he suggested that 50% of the complex arena should remain under tree cover while the remaining 50% be utilized for erection of buildings.
“This is a good concept of medical tourism that is rare and provides opportunities like jobs,” he observed.
The Inter-Build Ltd proprietors revealed that they hatched the idea of the complex from the aspirations of Uganda Vision 2040 Development Goals.
The Minister of Tourism, Wildlife and Antiquities, Prof. Kamuntu Ephraim and of State for Planning, Mr. David Bahati, attended the meeting.