Can you provide an overview of Tirupati Development Uganda?
Tirupati Development is a family-owned company that was established in Uganda in 2006, and chaired by Harshad Barot. The company operates primarily in the real estate development sector, specialising in the construction of shopping malls, housing estates, industrial parks and apartments. In addition to private development, Tirupati also operates as an official contractor, undertaking construction projects for the government of Uganda.
What projects are currently being undertaken by Tirupati, and how is the company’s approach to commercial condominium ownership different than its competitors?
We are currently in the final stages of constructing a 400-bed maternity and child complex at Masaka Regional Referral Hospital, on behalf of the government. The four-storeyed hospital will have an intensive care unit, two state-of-the-art theatres, gynaecology unit, labour and post-natal wards, and an antenatal and neonatal centre.
Our company has been at the forefront of introducing the concept of commercial condominium ownership in Uganda. Notable projects like Tirupati Ovino Market and Tirupati Mazima Mall exemplify this approach, enabling individuals to own units within shopping malls and industrial facilities. This innovative ownership model cultivates a shared sense of responsibility among stakeholders, fostering a distinct sense of community among property owners. We have ambitious plans to expand our portfolio with similar ventures tailored to a variety of industries, including an agricultural park in the future, thus making significant contributions to Uganda’s evolving business landscape.
Additionally, we have established the Tirupati Business Park, a sprawling 60,700-sq metre industrial park. This park has been designed to provide small and medium-sized enterprises (SMEs) with turnkey solutions for their operations. Currently, the park accommodates 150 warehouses, each dedicated to a unique industry. What sets our concept apart is our provision of all essential amenities required for businesses to flourish seamlessly, including reliable power connections, water supply and other vital infrastructure elements. As of today, our business park is home to a workforce of 2,000 individuals.
How is your organisation addressing the shortage of affordable real estate options in Uganda?
We have launched various initiatives within our business park. This includes the construction of budget-friendly apartments, the expansion of our business park with 253 new warehouses, and the creation of small-scale corporate offices tailored for mid-sized companies. This holistic ecosystem is designed to support SMEs by providing essential infrastructure and rental income opportunities, positively impacting Uganda’s housing and business landscapes. We anticipate completing the expansion within the next five years.
How does your company prioritise community development within its projects?
Community development is fundamental in each of the projects that we undertake. We closely engage with local leaders by respecting cultural values and fostering active communication with the community to highlight the benefits our projects. A significant part of our strategy revolves around ensuring the community understands the positive impact that our projects will have on future generations, including improvements in transportation and increases in property values. Additionally, through our NGO, Leela Foundation, we actively provide food resources to support the well-being of the elderly. We approach our projects with humility, viewing ourselves as partners working collaboratively with the community.
How do you assess the investment climate in Uganda, taking into account security, stability, governmental initiatives and overall business potential?
The investment prospects in Uganda are exceptionally promising. Uganda presents a diverse range of opportunities, catering to small-scale ventures, like manufacturing and larger endeavours. What makes Uganda particularly appealing is that significant returns can be achieved without requiring multimillion-dollar investments. Africa, as a whole, offers a unique landscape where minimal investment can yield substantial gains, with opportunities across various sectors.
Nevertheless, the perception remains that investing in Africa, including Uganda, involves a certain degree of risk or uncertainty. Some may not fully grasp the potential and success stories of ventures in East Africa. To change this perception, it is crucial to share the experiences of those similar to my father, who came from humble beginnings and achieved success through unwavering determination. Stories such as these are not fiction, but genuine accounts that underscore the untapped potential and opportunities that Uganda has to offer. In essence, Uganda’s investment landscape is a concealed treasure, awaiting both exploring and harnessing.
