UPHL Constructs 12 Warehouses out of Shs 6.9B Profit.

Uganda Property Holdings Limited (UPHL) is constructing 12 ware houses in Toror district using shs6.9 billion profits that was made in the last financial year. The company, fully owned by the Ugandan government was established in 1998 to among others; provide real estate development for government of Uganda, act as an investment vehicle for government locally and abroad, maintain government real estate properties and secure Uganda’s foreign assets.

 UPHL has 23 properties in Mombasa, Kenya, 4 properties in London, United Kingdom and 12 properties in Uganda. All the properties are secure and the Company is in custody of the titles.

UPHL’s shareholders are the Minister of Finance, Planning and Economic Development and Minister of State for Finance in charge of Privatization and Investment.

As a body corporate established under the Companies Act No. 1/2012, UPHL is mandated to have an Annual General Meeting (AGM) to among others update the Shareholders on the Audited Accounts by the Auditor General and also the performance of the Company.

Accordingly, UPHL held its AGM on Tuesday, 4th April 2023. In attendance were the Shareholders (Hon Matia Kasaija and Hon Evelyn Anite), the Board led by the Board Chairman - Amb. Idi Osman Rizingara and Management led by the Managing Director  Mugume Wilbert.

The Company made profits and declared dividends to its Shareholders. However, the shareholders directed the Company to retain the same for reinvestment especially with the ongoing construction of 12 warehouses in Tororo District (which are being constructed using internally generated funds).

The Shareholders also appreciated the good performance by the Company in securing the Government assets and tasked them to undertake more projects in order to increase revenue and dividends paid.