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Turkish firm VAAL Real Estate has made its entrance with a flagship housing project called CADENZA, valued at approximately US$30 million. The project, slated to be located in Nakasero, Kampala, is set to commence construction next month.
According to executives, CADENZA is expected to be ready for occupancy by 2027, although bookings have already begun for those with the means. As of last month, 40 units had been reserved.
The official launch event, held at Kampala Serena Hotel on February 28th, introduced CADENZA with promises of transforming the sector through luxurious living spaces in Kampala. Marketed under the tagline ‘Africa’s Gate to Real Estate,’ CADENZA offers various unit types, including studios, one-bedroom, two-bedrooms, and penthouses.
Highlighting its amenities, the project boasts a heated swimming pool, fully equipped gym, BBQ area, children’s play area, grand main entrance, reception zone, and concierge service, among others. Standing at 24 floors tall, it is set to be among the tallest buildings in Uganda and across VAAL Real Estate’s current projects globally.
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To address market fluctuations, unit prices are pegged to the US dollar. Launch prices range from US$77,550 for a studio to US$220,400 for a two-bedroom unit.
Majeed Saad, the Group CEO of VAAL Real Estate, addressed a corporate audience at the launch, expressing the company’s aim to cater to the discerning tastes of the Ugandan market. He emphasized VAAL’s reputation for delivering high-quality residential and commercial properties globally.
Saad expressed excitement about bringing VAAL Real Estate to Uganda, intending to set new standards for luxury living in the region. He emphasized the company’s commitment to providing residents with sophisticated, contemporary spaces that prioritize style, comfort, and functionality.
VAAL’s entry into the Ugandan market aligns with rising demand for premium residential properties, driven by urbanization, increasing disposable incomes, and evolving lifestyle preferences.
The launch event, attended by key stakeholders, government officials, industry experts, and prospective buyers, celebrated this milestone. It provided networking opportunities, insightful discussions, and an exclusive preview of VAAL Real Estate’s upcoming projects in Kampala.
With a focus on innovation, quality, and customer satisfaction, VAAL Real Estate aims to create iconic landmarks that redefine urban living experiences. With projects spanning across Turkey, the Middle East, Uganda, Kenya, Ghana, Egypt, and the United Kingdom, the company continues to set new standards of excellence in the real estate industry.
David Bahati, the Minister of Trade, Industry, and Cooperatives, who presided over VAAL’s official unveiling in Uganda, highlighted the government’s commitment to providing a conducive investment climate. He emphasized the country’s stable economy and projected growth, fueled by sectors like oil and gas.
Bahati also addressed Uganda’s housing deficit, indicating the need for millions of additional housing units in the near future to accommodate population growth.
Sector experts anticipate that VAAL’s entry into the market will provide buyers with more choices and enhance competition, ultimately benefiting consumers.
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