Makerere's New Valuation Course Crucial for Uganda's Economic Growth

Makerere University’s School of Built Environment is set to launch a new undergraduate program in Valuation and Real Estate Management. This initiative comes at a pivotal time, coinciding with the enactment of the new Valuation Act, and aims to equip professionals with the specialized knowledge required for accurate property assessment.

The introduction of this degree program signifies a progressive shift in Uganda’s approach to property valuation. Previously, the country faced challenges due to a lack of adequately trained valuation surveyors, leading to inconsistencies and potential inaccuracies in property assessments. This deficiency impacted various sectors, including land management, taxation, and investment.

The new curriculum at Makerere is designed to bridge this gap, offering theoretical knowledge and practical skills in areas such as property appraisal, land economics, property development, and real estate investment analysis. Graduates are expected to play a vital role in ensuring fair and transparent property valuations across the country, thereby enhancing investor confidence and supporting sound economic planning.

This development is crucial for the effective implementation of the new Valuation Act. The Act mandates professional standards and ethical conduct for valuers, ensuring that all property valuations are conducted with integrity and expertise. The availability of qualified professionals graduating from such a program will be instrumental in upholding these standards.

Officials from the Ministry of Lands, Housing and Urban Development have previously highlighted the need for such specialized academic programs to support the country’s development agenda. The partnership between academia and government in shaping relevant educational offerings is seen as a positive step towards building a robust and professional valuation sector in Uganda.

Source: Daily Monitor (Uganda)