Kensington is a young and dynamic brand home development company with professionalism, integrity, creativity and entrepreneur flair. It represents a passion for real estate and success for its clients.
The company general manager Ms. Lynnete Chiromo explained in an interview that all the 149 homes and a commercial centre will be ready for occupancy by mid this year. "So far 45 homes are already occupied, full completion and occupancy will be in July this year," said Chiromo.
She said the high inflationary levels currently affecting the country have had no effect on the development of the homes. "Inflation, no it has not affected us. The delays we had were experienced during the credit crunch that hit the world not the current inflation," she noted.
Uganda is currently facing high levels of inflation. According to figures that were released by the Uganda Bureau of Statistics recently, year on year inflation jumped from 11.1% to 14.1%, while food inflation surged to 39.3% from 29.1% in April this year. For the construction sector according to UBOS, constructing a residential building or a commercial one is becoming harder as prices of construction materials are shooting up.
In the first quarter of the year, it recorded tremendous increases in the prices of timber, clay bricks, tiles, and water and iron sheets, indicating that people had exceeded the normal expenditure.
Chiromo indicated that people can acquire Kensington homes by either cash payment or through mortgaging.
She noted that to acquire a two bed-roomed house, one has to pay around $89,000 (Ugs213.6m) while a three and four bed-roomed house costs $159,000 (Ugs381.6m) and $209,000 (Ugs501.6m) respectively. A five bedroom home goes for $289,000 (Ugs693.6m).
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