KCB Bank Uganda has partnered with Pearl Marina Estates to expand access to home financing, as the lender steps up efforts to make home ownership more affordable for Ugandans.
The partnership was showcased during Pearl Marina Estates’ Phase II Agents’ Open Day held in Entebbe on July 15.
The event brought together real estate agents, property developers, and financial institutions to showcase the estate’s latest housing developments and financing options.
The Phase II development includes Riviera Residences Phase II, Bellavista Apartments, La Perla Bungalows Phase II, serviced plots, and other investment opportunities.
Under the partnership, KCB Bank Uganda will finance up to 85 per cent of a property’s value for both salaried employees and business owners. The bank has also structured flexible repayment periods to suit customers with different income levels.
The mortgage package is intended to address Uganda’s low mortgage uptake despite growing demand for housing.
According to data from the Uganda Bankers Association, fewer than 40,000 mortgages are currently active in a country with an estimated population of about 50 million people. Bank of Uganda figures also show that mortgages, construction, and real estate lending together account for about 20 per cent of total commercial bank lending.
Pearl Marina Estates occupies about 389 acres of waterfront land along Lake Victoria, with more than three kilometres of lake frontage.
The mixed-use development combines residential, recreational and retail facilities, offering villas, townhouses, bungalows, apartments and serviced plots for buyers who prefer to build their own homes.
Sylvia Alal, the Sales and Marketing Manager at Pearl Marina Estates, said the open day was organised to give agents and partners a better understanding of the wide range of housing options available under Phase II.
“We hosted this open day to introduce our valued agents and partners to the premium housing inventory available in Phase II, including our Riviera townhouses and popular serviced plots. Our strategic partnership with KCB Bank Uganda has simplified the home buying process by providing customers with a structured and efficient path to home ownership,” Alal said.
Isaac Mukiibi, Mortgage Manager at KCB Bank Uganda, said the bank is responding to the country’s housing financing gap by providing mortgage solutions that are tailored to different customer needs.
“At KCB Bank Uganda, through partnerships such as Pearl Marina Estates, we are making quality housing more accessible by providing financing solutions that meet customers where they are financially. The statistics on mortgage uptake clearly demonstrate the gap that still exists in Uganda’s housing market. Our role is to bridge that gap by making the home ownership journey easier and more affordable for our customers,” Mukiibi said.
He added that partnerships between financial institutions and property developers are becoming increasingly important in addressing Uganda’s growing demand for housing while reducing the barriers that prevent many people from owning homes.
KCB Bank Uganda said it will continue working with property developers across the country to expand access to affordable housing finance, enabling more Ugandans to become homeowners while supporting economic growth and the development of the real estate sector.
