Last week, National Social Security Fund [NSSF] launched the construction of the Shs3.3 billion Jinja Complex in a ground breaking ceremony.
NSSF Managing Director Richard Byarugaba said that the project is in line with the Fund’s strategy to unlock the value of our real estate investments and accelerate its growth.
“It is also in line with the Fund’s investment policy that enjoins us to undertake investments in income generating commercial properties located in major Uganda cities or towns that are expected to produce an attractive return over the long term period,” he said.
“We’re glad to have this modern structure here in the heart of Jinja which will bring numerous opportunities to the local economy,” Richard added.
The four-floor new complex will have a total built up 1,500 square meters, of which 1,200 square meters will be rentable space, and 50 parking slots.
It has been planned as a mixed use development with commercial facilities inclusive of office space and retail shops.
The construction works are scheduled for completion by the end of 2017.
Hon. Fred Omach, the State Minister for Finance (General Duties), who was also the chief guest, commended NSSF for the investment in Jinja.
“The government has created a conducive environment to spur economic development and an investment like this for NSSF is a step in the right direction. I would like to commend NSSF especially for investing outside Kampala and spreading such opportunities to other parts of Uganda,” Omach said.
The Jinja Town Mayor, Mr Muhammad Kezaala Baswale, expressed his delight at having the NSSF Jinja Complex constructed.
“Jinja is excited to have NSSF, one of our top employers in the city, putting up a magnificent structure that will create more office space and jobs in the town. We are happy to share in NSSF’s growth,” he said.