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Gulu, Uganda | URN | Leading property consultants have urged investors to seize emerging opportunities in Gulu City, describing the fast-growing urban centre as one of Uganda’s most promising real estate and commercial investment destinations.
The call was made on Friday by Knight Frank Uganda during the unveiling of its real estate market analysis report for Gulu City at the inaugural Acholi Real Estate and Infrastructure Conference held in the city.
The conference attracted investors and stakeholders in real estate, construction, banking, technology and agriculture sectors in what organisers described as a landmark dialogue on the future of urban investment in Northern Uganda.
According to the report, Gulu is undergoing rapid urban transformation driven by infrastructure expansion, rising agricultural productivity and strategic regional connectivity, positioning it among Uganda’s fast-growing secondary cities.
Speaking on the sidelines of the conference, consultant Judy Rugasira said the market analysis report reflects a growing shift in investor perception towards Northern Uganda, particularly Gulu City that hosts a population of 232,723.
Rugasira explained that the consultancy firm conducted extensive research in Gulu, Nwoya and Kitgum districts to assess market trends, investment gaps and future opportunities.
“From that we were able to determine where the opportunities were in Gulu, where to invest, what to invest in, what the demand is like and how much supply the market can absorb,” Rugasira told Uganda Radio Network.
She said the study identified several high-potential investment areas including logistics and warehousing, cold chain storage, mid-income housing, student accommodation, Grade B+ office and retail space, hospitality facilities and luxury residential developments.
Rugasira noted that although Gulu’s property market historically lagged behind central Uganda before its recent elevation to city status, the landscape is rapidly changing as the city gains national attention under the government’s broader economic transformation agenda.
She linked Gulu’s prospects to the government’s tenfold economic growth strategy, arguing that secondary cities such as Gulu will play a central role in Uganda’s ambition to expand the economy over the next decade.
Rugasira also urged the Gulu City Council to work closely with investors and development partners to streamline investment processes and accelerate urban development.
“My plea to the city council is to cooperate, collaborate and partner with us so that we are able to facilitate developers, investors and all stakeholders in the development cycle to make these projects come to life,” she said.
Joseph Enyimu, the Commissioner for Economic Development and Research at the Ministry of Finance, Planning and Economic Development, commended Knight Frank Uganda for convening the conference, saying the initiative aligns with government’s ambition of building a 500-billion-dollar economy.
“First, we salute Knight Frank for their leadership. As part of the 500-billion-dollar economy that government is building, we need goal consensus, which means bringing together different players to see the same outcome,” said Enyimu.
Enyimu said the conference had created an important platform for collaboration between government institutions, private sector players and cultural leaders in advancing urban development in Northern Uganda.
He noted that urbanisation remains critical in driving Uganda’s economic transformation, adding that Gulu’s positioning as a regional urban hub would increase productivity, create jobs and boost exports.
Gulu Mayor Julius Acire Labeja said ongoing infrastructure projects under the Uganda Support to Municipal Infrastructure Development Additional Financing (USMID-A) programme have strengthened the city’s attractiveness to investors.
Labeja said the rehabilitation of more than 20 roads to standard bitumen level within the city that commemnces in the 2026/27 Financial Year will significantly improve connectivity and support commercial growth.
“The coming of the new contract for the rehabilitation of over 20 roads to standard bitumen under USMID-A places Gulu in a strong position as a potential investment destination,” Labeja noted.
He added that Gulu is geographically well-positioned in the region and endowed with vast natural attractions that present enormous opportunities for investment in tourism and hospitality.
The mayor cited the city’s proximity to major tourist attractions such as Kidepo Valley National Park and Murchison Falls National Park as an added advantage for hospitality investors.
Labeja further pointed to opportunities arising from preparations for the 2027 Africa Cup of Nations tournament, noting that two stadiums in Northern Uganda are currently being upgraded to serve as training facilities for participating teams.
Since its elevation to city status in July 2020, Gulu City has experienced rapid economic growth largely driven by trade, with investors increasingly viewing it as a strategic commercial hub in Northern Uganda.
Data from the survey indicates that trade contributes 42.9 percent of the city’s economy, followed by services at 35.9 percent, agriculture at 14.2 percent, manufacturing at 5.9 percent, while construction and real estate currently account for only 1.1 percent a figure analysts say demonstrates the sector’s enormous growth potential.
