Finance Minister lauds VAAL’s $30m “The Bridge Kololo Project”

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The Minister of Finance, Planning and Economic Development, Matia Kasaija, has hailed the $30m development by VAAL Real Estate, which he said is proof that the country’s economic strategy is working.

Rising above the hills of Kololo, Kampala’s most prestigious residential enclave, The Bridge Kololo, once completed, will be more than a building but a critical definition of Uganda’s growing real estate sector.

Speaking during the project launch held at Serena Kampala Hotel last week, Kasaija described it as a symbol of resilience, vision, and investor confidence. Our economic strategies are bearing fruit,” he said.

“The Bridge Kololo is evidence that we have worked systematically to create an environment where projects like this can succeed. It has not been easy, but the results speak for themselves.”

The Minister’s optimism is grounded in more than rhetoric. Uganda’s inflation has stabilised at 5.4%, only slightly above the government’s target of 5%, reflecting careful coordination between the Ministry of Finance and the Bank of Uganda.

Foreign direct investment has grown steadily, rising from $1.36b in April 2022 to $1.5b by April 2023. But most importantly, Kasaija spoke to high-quality investments like The Bridge, developments that reflect long-term confidence in Uganda’s future.

“With nearly 46 million citizens and 78% under the age of 35, demand for housing, jobs, and services is set to remain robust for decades. Real estate is critical to meeting this demand. Young people need housing, they need jobs, and they represent the consumer base that will drive demand for decades,” he said.

Government reforms have played a decisive role in enabling such developments. Adjustments to the tax framework, competitive capital gains rates, depreciation schedules for construction equipment, and more reliable access to foreign exchange have created an environment where high-quality real estate can thrive.

The Bridge Kololo is designed to be more than a skyline statement. Its twin towers lean gracefully toward each other, joined by a skybridge that offers sweeping views of Lake Victoria and Kampala’s bustling cityscape.

Rooftop lifestyle amenities, studio to three-bedroom apartments, and carefully curated interiors cater to urban professionals, international executives, and families seeking both convenience and prestige.

For VAAL Real Estate Uganda, the project represents a culmination of vision and strategy.

“Kololo deserves developments that match its prestige. The Bridge Kololo bridges luxury and opportunity, offering unmatched living for residents and strong returns for investors, Chief Executive Officer Islam Mohamed said.

With projected returns of up to 23%, proximity to embassies, international schools, golf clubs, and business hubs, the project positions itself not just as real estate, but as a lifestyle investment and a fortress of wealth and a lasting legacy.

Evelyn Anite, State Minister of Finance for Investment and Privatisation, praised VAAL’s foresight and leadership, highlighting how private-sector initiative can harness Uganda’s economic potential.

“VAAL understood our trajectory and positioned themselves accordingly. They see opportunity where others see challenges. As the government creates the environment for success, it is private investors like VAAL who transform opportunity into tangible progress,” Anite added.

As its towers prepare to rise, they will do more than redefine the skyline; they will redefine what is possible in Uganda’s emerging landscape of opportunity, growth, and luxury.