Housing Finance Bank, Pearl Marina Estates ink deal to drive affordable homeownership

August 27, 2025 in Business, Companies, Financial Services, Real Estate & Property by Editor

Michael-Mugabi-Managing-Director-of-Housing-Finance-Bank-and-Piyush-Dixit-the-General-Manager-of-Pearl-Marina-pose-for-a-photo-after-the-signing-of-the-MOU-with-Pearl-Marina-Estate

Uganda’s housing sector received a major boost on Tuesday as Housing Finance Bank (HFB) and Pearl Marina Estates signed a Memorandum of Understanding (MOU) that is set to transform the journey to homeownership for thousands of Ugandans.

Under the agreement, Housing Finance Bank will provide tailored mortgage solutions designed to make financing more accessible, while Pearl Marina Estates will deliver quality housing units that meet modern standards of affordability and design.

Uganda faces a housing deficit estimated at 3 million units, a gap that continues to widen with rapid urbanisation and population growth. By joining forces, the two institutions say they are not only responding to this urgent need but also creating a model for sustainable and inclusive development.

“At Housing Finance Bank, our purpose is financing a sustainable future for all,” said Michael Mugabi, the bank’s managing director. “This collaboration aligns perfectly with that mission by bringing together financing and real estate development in a way that empowers more Ugandans to achieve their dream of homeownership.”

The MOU establishes a framework for innovation in housing finance, emphasizing customer-centric mortgage products, operational efficiency, and data-driven solutions. It also ensures that aspiring homeowners will be supported throughout the process—from identifying the right property to structuring affordable payment plans.

John Baptist Kaweesi, head of mortgages and consumer banking at HFB, described the partnership as both timely and transformative. “Uganda’s housing deficit presents a challenge, but also an exciting opportunity,” he said. “Through this collaboration, we can significantly reduce barriers to homeownership, making mortgages accessible to more Ugandans than ever before.”

Pearl Marina Estates, general manager Piyush Dixit noted that the MOU goes beyond a simple financial arrangement. “This is a bold step towards shaping the future of real estate in Uganda,” Dixit said. “By combining our strengths, we will accelerate growth, unlock synergies, and deliver meaningful impact to aspiring homeowners.”

Industry analysts have described the partnership as a milestone in Uganda’s housing finance landscape—one that could serve as a benchmark for public-private collaboration in addressing social and economic challenges. With both institutions pledging long-term commitment, the alliance is expected to not only expand access to affordable housing but also stimulate growth in Uganda’s construction and financial services sectors.