Stanbic launches Kasanje housing project

Stanbic Bank has launched a new housing project in Kasanje, offering a 16.5% mortgage rate to help Ugandans own homes

KASANJE, Uganda — Stanbic Bank, in partnership with Quesi Properties, has officially launched the first phase of La Valle estate, a residential development in Wakiso district designed to expand access to affordable housing.

The project arrives as Uganda grapples with a housing deficit of approximately 2.6 million units, according to the 2024 National Population and Housing Census Report. High costs of formal housing and rapid urbanization have historically locked many citizens out of property ownership.

Located in Kasanje, the estate offers three-bedroom bungalows and four-bedroom villas available for off-plan purchase. By purchasing off-plan, buyers can secure homes within a managed community, avoiding the common pitfalls of private construction such as unreliable contractors and inflated building costs.

Sam Mwogeza, executive director and head of personal and private banking at Stanbic Bank, said the project focuses on providing a sanctuary for families.

“Affordable housing is a challenge,” Mwogeza said. “By the time you finish the house, it almost feels as though you’ve been building two houses at the same time—your house and the contractor’s house.”

To support the initiative, Stanbic is providing structured mortgage financing with an interest rate of 16.5%. The bank aims to move Ugandans toward sustainable home ownership and long-term wealth creation by making the transition from renting more accessible.

The estate is planned as a self-sustaining community featuring a clubhouse, clinic, supermarket, gym and swimming pool. Daniel Kwesiga, managing director of Quesi Properties, said the development also includes a kindergarten to support working families and ample common spaces for children to play.

Kwesiga highlighted the area’s growing appeal due to infrastructure improvements, including the Busega-Mpigi expressway. He noted that these road projects will significantly reduce travel time to Kampala and Entebbe, positioning Kasanje as a prime residential hub.