NEW AFRICAN VILLAGE ESTATE

The New African Village is a proposed real estate development project by Wai Housing Company comprising of 14 two bedroom residential housing units designed and tailored to meet the affordability constraints of the targeted households and will offer state-of-the-art living conditions reflective of the rapid advancements in technology.

The housing units will be constructed in a well-planned estate with access to infrastructural facilities and services like roads, water and electricity access.

Wai Housing Company is a limited liability company duly incorporated under the laws of the Republic of Uganda and run by a team of energetic and dynamic professionals qualified and experienced in different fields of operations such as architecture, survey, legal and advisory.

Our goal is to pool like-minded investors to invest in the development of residential real estate projects in Uganda with the intent of selling the properties for a profit.

HOW THE IDEA/BUSINESS WILL EARN MONEY

The Project involves buying Land in Exclusive Areas and developing Residential Properties for Sale. The Properties being developed have a Fixed Price.

The Company will buy the land which represents 25% of the total development cost of the project, while construction of the project will be funded through a construction loan from our banking partner representing 75% of the total development cost.

It is estimated that $1 (US Dollar) will be exchanged at €0.94 (Euro). Therefore using the US Dollar, it is estimated that the total revenue from the sale of the 14 housing units with each be sold at $51,500 per unit is $721,000 which translates to approximately €680,000.

We estimate that the total cost of the entire project to be $545,258 which translates to approximately €513,809.

Development profit is projected to be $136,457 or €128,725 representing a 25% of the total development costs of the project.

We estimate that the entire project will be completed and sold out within a maximum period of 8 months. Construction of the project will take 4 months and upon completion, sales of the houses will last 4 months, to embark on other projects doubling the number of units of every new project.

CURRENT STAGE OF THE IDEA / BUSINESS

The company has already identified a suitable site for construction located in Wakiso town council, a highly desirable municipality of the greater Kampala district, specifically in an area with combination of affordable land prices and provision of requisite utilities (water and power) has resulted in rapid growth.

The land is free of any encumbrances. This is a subdivision and the lot has already been subdivided into individual plots and transfer to owners will be very easy.

The company has also already identified the banking partner to provide the construction loan to finance the construction of the project representing 75% of the total development cost.

As a team, our contribution is to implement the concept, manage the construction and sale of the housing units ensuring that investors get their return on investment and in time.

The team will strive to work as a cohesive unit focused on exemplifying our mission of satisfying both customer and investor.

WHAT WE NEED?

We are looking for investor/s or shareholders and interested in securing $150,000 capital injection which translates to approximately €141,500, to execute and help finance the land purchase, interest reserve costs and initial related costs towards getting the construction loan for the development of the project.

The Idea here is that the investor Invests in the Company and becomes a Shareholder. The Investor gets a Return on Yearly basis i.e. P.A, and that’s projected between 11-12% P.A.

The minimum contribution cheque size is $5,000. Dividends will be issued and paid on a yearly basis. All the funds will be accounted for and Audited Annual Financial Statements will be prepared and accessed by all the investors/shareholders.

Collateral for the funding will be the land properties purchased, work in progress properties and the final products.