Pearl Estates Uganda Limited under the management of Mr. Mitul Jobanputra has today realised her long cherished dream of contributing effectively towards the creation of an organized housing culture in Uganda as a means of fighting the problem of proliferation of slums that is a key challenge to the rapid urbanization in Uganda.
According to Mr MITUL JOBANPUTRA, Pearl is one of the entities associated with PICFARE GROUP of companies [the Group]. The Group also owns the multi billion security printing & paper conversion and textile and garments manufactures operating as Picfare Industries Limited and Southern Range Nyanza Limited; based at Njeru near Jinja where over 2000 Ugandans are employed.
Mr. Mitul Jobanputra the Managing director also said that the Group has had the tradition of delivering on her promises to the Ugandan public that has made it possible for Picfare to grow under the able leadership of Mr. Mitul Jobanputra, Group Vice Chairman. Pearl was no exception. Pearl, commenced construction 24 months ago and has managed to deliver the unique, elegant and exclusively fabulous Spring Hills Apartments in the serene Lubowa environment punctuated by the natural breeze from the expansive Lake Victoria; whose view adds to the beauty.
According to reports by Mr. Mitul Jobanputra which he mentioned during the launch, the aggregate project cost has been United States Dollars 7.5 Million that has seen the delivery of 65 Apartments constructed with due regard to pleasure and are therefore secure, possess Dstv and WIFI connectivity, barbeque amenities as well as a modern swimming pool.
The key considerations among others, was the need to avail onto the local market high class accommodation in a serene environment based on world class planning in terms of amenities available; comparable with what is available in Europe, Asia and Middle East. This explains in part why, Pearl is the first such gated condominium development with elaborate facilities like a Swimming Pool, provision for barbecue space, high end landscaping, secure parking space, to mention but a few.
“The project was implemented in 24 months, with construction commencing in 2008. It has therefore been largely on schedule in terms of work progress and I can report, Your Excellency that, some of the Apartments are already sold out to our cosmopolitan buyers that constitute of bankers, lawyers, diplomats and retired civil servants, who shall be beginning to occupy them from this month end.” Said Mr. Mitul Jobanputra as he addressed the gathering that included the President of Uganda Yoweri Kaguta Museveni
No doubt that there is significant concluded purchases of apartments under condominium due to the high end construction that has made significant attention to detail, including the provision of safe and quality parking spaces for home owners.
Mr MITUL JOBANPUTRA then said that PICFARE group continue her commitment to contributing towards the construction of organized housing products in Uganda given that Government appears also committed to facilitating such investments through availing good general infrastructure, affordable credit, land in addition to zero rating Value Added Tax on real estates sales to enable the reduction of real estates sales cost across the board.