Building Blocks: Kololo, Kampala, Uganda
With Kololo home to the city’s second largest office market, Francis Bbosa, Research Analyst at Knight Frank Uganda, explains why it's a growing hotspot for commerical investors
1 minute to read
Why is it up and coming?
With less congestion, better security and proximity to high income residential suburbs, Kololo is fast emerging as Kampala’s new office hub and an attractive alternative to the established CBD. It is also easily accessible from major arterial routes such as Acacia Avenue, Lugogo By- Pass Road, Prince Charles Drive and Wampewo Avenue. Kololo is positioned to benefit from a revolution in corporate relocation, with an increased focus on transport links, walkability and amenity- rich office environments.
My favourite bits
Kololo is among the most affluent and prestigious neighbourhoods in Kampala, and offers a wide range of facilities including hotels, banks, hospitals and modern shopping centres – among them Acacia, Uganda’s first fully air-conditioned mall – away from the noise and congestion of the CBD.
Who’s buying?
Predominantly expatriates and multinationals seeking live/ work/walk environments with a range of housing choices, pedestrian connectivity, transit and cycling options.
What are prime yields (cap rates) in the area?
On average yields are 9.5% and 10.5% for prime office space and secondary office space respectively.