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REGULATION OF REAL ESTATE PRACTICE IN UGANDA: WHAT DOES THE LAW SAY?.
The regulation of real estate practice in Uganda is currently in a transitional phase, with several key stakeholders and associations working towards establishing a more organized and professional framework for the industry. The effort is driven by the need to enhance professionalism, protect practitioners, and provide better services to clients. This blog therfore provides an overview of the vibrant discussions among key real estate practitioners on various platforms regarding this topic. Key Stakeholders.1. Surveyors Registration Board (SRB): The SRB is currently at the forefront of these registration efforts. The board is responsible for registering land agents, who are currently classified under surveyors according to the Surveyors Registration Act (SRA).2. Association of Real Estate Agents Uganda (AREA Uganda): AREA Uganda is a professional association that advocates for the interests of real estate agents. It has been instrumental in pushing for regulatory changes and has collabo

WHAT TO EXPECT FRÓM THE UPCOMING REAL ESTATE BILL, 2024.
Uganda's real estate industry has experienced remarkable growth in recent years, attracting investors and developers both locally and internationally. As a response to the evolving landscape and to ensure fair practices within the sector, the Ugandan government is set to introduce a new legislation currently referred to as the Real Estate Bill, 2024. This blog post aims to provide insights into what can be expected from this upcoming Bill and how it will impact various stakeholders especially agents within the real estate industry. Enhanced Professionalism and Licensing. One of the primary goals of the Real Estate Bill is to improve the professionalism of real estate agents operating in Uganda. The Bill is expected to introduce mandatory licensing requirements for agents, ensuring that only qualified individuals or firms can engage in real estate brokerage activities. This move will help establish a standardized level of competence, thereby promoting trust and transparency in the i