Oil pipeline-related splurge raises Uganda real estate industry spirits
Tuesday May 04 2021
Uganda President Yoweri Museveni and Tanzania President Samia Suluhu during her one day visit to Uganda. PHOTO | PPU | AFP
Summary
Whereas procurement budgets managed by oil exploration firms operating in Uganda declined between 2017 and 2020, a surge in spending captured during the first three months of this year points to strong recovery opportunities for real estate sector.
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Commercial activity surrounding the recent signing of key agreements related to the 1,445km East African Crude Oil Pipeline Project (EACOP) and a surge in oil explorers’ procurement budgets have increased hopes of recovery in the country’s real estate industry that has been hit hard by the coronavirus pandemic.