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VAAL Real Estate a Turkish/Egyptian-owned all-round luxury real estate company with a presence in Kenya, United Kingdom, Ghana and Turkey has made a grand entry into the Ugandan market with its Cadenza Residences⏤ an iconic 24-storeyed homes project in the upscale Kampala neighbourhood of Nakasero.
The project was unveiled to select guests and A-listers at the Kampala Serena Hotel on Wednesday, March 28th 2024.
The function was graced by among others David Bahati, the Minister of State for Industry in the Ministry of Trade, Industry and Cooperatives; Mr. Islam Mohammed, the VAAL Uganda CEO; and Majeed Saad, CEO of VAAL Real Estate Group.
At 24 storeys and 80 metres high and with 250 homes in a studio, 1 bedroom, 2 bedroom and penthouses configuration, Cadenza Residences, when it is completed in July 2027, will be truly one of a kind.
Described by the developers as a “masterpiece” and a piece of “architectural brilliance” on a “prestigious address”, Cadenza residences will be built at the confluence of Plot 1 Katonga Road and Sezibwa Road.
“Nestled in the vibrant heart of Nakasero, Cadenza Residence is a living composition that redefines the meaning of luxury living in Kampala. With the Parliament of Uganda, State House, the United Nations office, and several embassies nearby, Cadenza’s location in this blue zone area guarantees security and prestige,” the developers say, adding that its unique location, “allows its residents to enjoy convenience and smooth access to nearby social amenities like the Uganda Golf Club, shopping malls, schools, and hospitals”.
Besides the prime location, the developers say, “Cadenza Residence offers a chorus of amenities that cater to the diverse tastes of its esteemed residents”.
“Each space is meticulously designed to provide an unparalleled living experience. The architectural brilliance extends seamlessly into these shared spaces, with amenities that provide residents with a luxurious and comfortable lifestyle within the confines of their homes,” VAAL Real Estate, the developers say.
Some of these key amenities include a heated swimming pool, children’s play area, CCTV surveillance, a fully equipped gym, a business area, a games room, a full backup generator, a BBQ area, a steam and sauna as well as a reception zone. All units will also be cable TV and internet ready, with video intercom and serviced by high-speed lifts.
Studios start at USD89,200; 1 bedroom homes start at USD128,600 while 2 bedroom start at USD253,500.
To buy a home in this epic project, clients are required to make a downpayment of 15% as well as make another 15% in a month to be able to secure a sale agreement. The balance⏤of 70% is payable in 12 equal instalments.
VAAL Real Estate aims to be Africa’s No.1 gate to real estate
Majeed Saad, CEO of VAAL Real Estate Kenya said that the Group has been in the real estate industry for over 2 decades now and looked to leverage this experience to deliver the project on time.
“VAAL Real Estate is the leading real estate developer in Africa. Founded by well-seasoned professionals with decades of real estate experience, the company stands as a beacon of excellence, renowned for its commitment to delivering unparalleled real estate solutions, with a sterling reputation for delivering luxury residences that create timeless value and redefine architectural brilliance,” he said.
He also said the company was an all-round real estate solutions that”not only develops luxury property, but also offers letting & management services, feasibility studies as well as brokerage services”.
“We are known for a blend of modern architecture, unrivalled innovation, experience and market knowledge. We have built our reputation around providing impeccable service, professional advice and timely delivery,” he added.
In 2020, VAAL Real Estate expanded its global territory with branches in Turkey, Ghana and the United Kingdom. According to the company’s published profile, the company says in its 20 years of existence, it has served more than 5000 clients and delivered to market over 2000 housing units to the market.
Explaining the Group’s vision, Majeed Saad, the CEO of VAAL Real Estate said: “VAAL Real Estate aims to be Africa’s No.1 gate to real estate. It is the right place for real estate investors who look for trust, stability, security and high returns. Through exemplary delivery time and service, transparency, and mutual trust, we aim to build long-term partnerships with our clients”.
“It is our mission to uphold the highest standards of professionalism, integrity, and quality of service while providing the best go-to personalized real estate service in Africa and beyond. To establish relationships that make our clients feel like partners,” he further explained about the Group’s mission.
Speaking at the colourful Cadenza Residences unveiling, David Bahati, the Minister of State for Industry in the Ministry of Trade, Industry and Cooperatives and Chief Guest at the event, welcomed VAAL Real Estate to Uganda and said the company was just in time.
“You are coming at the right time because our national housing deficit now stands out at 2.4 million and the urban housing deficit stands at 210,000 housing units, while Kampala alone has a deficit of 100,000 and a population of 5 million during the day and 3.5 million at night. This is a great opportunity for you, to be investing in our country,” he said.
“Uganda has a young population (45 million) and is expected to hit 100 million by 2050 thus providing a steady market for a long time to come,” Bahati reiterated.
To deliver the project, VAAL Real Estate has partnered with a Ugandan Family enterprise.
Speaking on behalf of the joint venture partners, Mrs Jane Baine, thanked the the government of Uganda for the conducive investment environment that makes it easy for foreign investors such as VAAL Real Estate to bring capital and expertise into the country.
“We welcome VAAL who have made a decision to come and invest here in the Pearl of Africa. We would like to thank them for their timely decision to invest in this our beautiful country,” she said.
Islam Mohammed, the VAAL Uganda CEO, expressed gratitude to the people of Uganda for “accepting us with open arms, and trusting us with the opportunity to be part of the growth and development of the Pearl of Africa”.
“As we launch into this new chapter, I am filled with hope for the possibilities that lie ahead. Together with the support of our partners, our stakeholders, and the community. I’m confident that we will achieve great success and leave a legacy that we can all be proud of,” he said.
“At VAAL, we are more than just a real estate developer. We are creators of investment opportunities and communities. We understand that behind every project lies the dreams and hopes of innovative individuals and families. It’s with this understanding that we approach each project with special integrity and excellence. With a combined experience of more than 20 years, we can guarantee our customers to expect more with VAAL Real Estate and Cadenza Residence,” added Mr. Islam Mohammed.
He said the company aimed to start up to 6 projects across the country in the next 3 years.
VAAL also hopes to invest between USD25 million and USD30 million (UGX97.7 billion to UGX117 billion).
For inquiries or to book a home at the Cadenza Residences, VAAL Real Estate can be reached via:
📧 info@vaal.co.ug
🌐 vaal.co.ug