Membership 270+ (2014) Founded 2008 | Formation 2008 Region served Uganda Official language English Type of business Real Estate Association | |
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The Association of Real Estate Agents Uganda (AREA Uganda), is an umbrella organization of real estate agents, managers, organizations and other real estate professionals in Uganda, the third-largest economy in the East African Community.
Contents
Overview
It is Uganda's leading professional body for real estate agents. Its members practice across all aspects of property, both in Uganda and abroad. Activities that its members engage in, include residential and commercial sales and leasing, property management, business transfers and auctioneering. Headquartered in Kampala, Uganda's capital and largest city, AREA Uganda is governed by a Board of Directors. The Association continuously accepts new members.
Funding and Sponsorship
AREA Uganda receives financial and other support from civil society and corporate organizations, including the following:
- International Finance Corporation through Uganda's Primary Mortgage Market Initiative (UPMMI)
- Private Sector Foundation Uganda (PSFU)
- United States Agency for International Development (USAID) through International Real Property Foundation (IRPF)
- DFCU Bank
- Stanbic Bank (Uganda) Limited
- Housing Finance Bank
- Akright Projects Limited
- Nationwide Properties Limited - A division of the Mukwano Group
- Kensington Africa Limited
- Uganda Ministry of Lands, Housing and Urban Development.
Significant Events
Function
Objectives The main objectives of AREA Uganda are to;
Trainings and Courses AREA Uganda is engaged in several trainings which include; mortgage training, valuation training, brokerage management training and Instructors’ training at the East Africa Regional Real Estate Training Center (EARRETC) in Nairobi.
The association offers the following courses:
Lobbying and Advocacy The Association is the lobbying arm of the real estate sector in Uganda and does so, on behalf of its members. The body has lobbied on tax issues in Parliament, regulatory environment with the Ministry of Lands, Housing and Urban Development and does make presentations on housing forums representing the real estate industry.
Managing the Ugandan Women Access and Ownership of Land Project This project was designed to increase women's awareness and knowledge of land and property rights in the real estate sector so that they can act as leaders and advocates on such issues.
Support to students' Real Estate Associations AREA-Uganda in effort to promote the profession through academic institutions is committed to working with students through their associations like the Makerere University Business School Real Estate Students Association (MURESA) which works closely with AREA-Uganda to link students to the business community through Internships and job linkages.
Membership
As of January 2014, the Association had nearly 300 members and more than 1,500 affiliations and connections nationally and Internationally.
Categories
AREA Uganda consists of four Membership Categories, that is: (a) Corporate Membership for all real estate agencies and management companies; (b) Individual Membership for all persons practicing or interested in real estate at an individual level; (c) Associate Membership for real estate developers, mortgage practitioners, architects, appraisers, academic institutions plus all other related professions and (d) Student Membership for persons pursuing real estate education.
Representation
The association is represented at the board of Private Sector Foundation Uganda (PSFU), where the AREAU CEO sits on the Audit Committee. The Association is also represented on some of the committees at the Uganda Ministry of Lands, Housing and Urban Planning (MLHUD) where the association’s President and Publicity Secretary are representatives.
Furthermore, the Association is also represented at the Property Price Index Survey (PPIS), conducted by Uganda Bureau of Statistics (UBOS) and the Bank of Uganda (BOU).