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Earth Finds

Why Businessman Haruna Sentongo Is Offering Free Rent To Tenants

The landlord’s relationship is key to the success of a tenant who operates a business on a particular property. Most times landlords prefer rent money than the success of their tenant. In fact many landlords believe they have no obligation to ensure their tenant succeeds while they occupy space on their buildings.

This is not the kind of relationship that provides the much needed and recommended win – win situation for both the landlord and tenant. Landlords according to experts in the real estate sector believe has a responsibility to see that he puts in place an atmosphere that earns the tenant enough money for such a tenant to pay rent.

However, for a person who understands the needs of a business, Haruna Sentongo of Haruna Enterprises, a real estate agency, is working with his tenants to see to it that they prosper side by side. Sentongo as a landlord is using a business model that aims to empower tenants who occupy several of his malls, towers and markets in Kampala.

Three months free rent

Small & Medium Enterprises (SMEs) usually work on tight startup capital and budgets and as we all know it is hard for a new business to hit it off by registering massive profits. The cost of utilities like water, electricity bills sometimes eats into their spend making it hard for them to register the much needed profits.

And in times of insufficient profits businesses struggle to survive let alone pay their rent dues. This causes rent arrears to grow leaving the landlord with no option but to get rid of the tenant. However, Haruna Sentongo offers is capacitating his tenants by offering them three months of not paying rent.

On top of giving you three months’ rent free, Haruna Enterprises as landlords are also paying for electricity, water, garbage disposal, security and free parking. This means that the tenant will not worry about paying for utility bills and can use the three months to settle in the storeyed market.

Haruna Sentongo is doing this to all new tenants at his Nakayiza Market and Segawa markets in Mengo – Kisenyi, Haruna Towers in Wandegeya and Haruna Shopping Mall in Ntinda. Nakayiza Market is an agro produce market while Segawa Market specializes in selling spare parts for all automobiles.

Affordable rent costs

Apart from offering three months of not paying rent, rent fees at all Haruna Sentongo buildings are affordable and charged in Uganda Shillings. Ibrahim Mukwaya who runs a spare parts shop at Segawa Market says Haruna Sentongo’s arrangement has enabled him stabilize and can pay the rent comfortably.

“I don’t need to have a dollar account or first go to forex bureau to change the money from shillings to dollars to be able to pay rent,” MUkwaya says. Like Mukwaya, Ahmed Mukisa, a tenant and sorghum dealer at Nakayiza Market, says this takes away stress associated with paying for bills routinely. Another tenants said it helps them save money and allocate it to do other things like paying taxes, paying wages or restocking the shop.

“This is the first place I am seeing this. It is good, paying for electricity is inconveniencing and stressing. I have been here for a long time but I have not paid for electricity and we have electricity all the time unless it is load shedding,” Ben Ntale, a trader at Segawa Market, explained.

A working relationship with tenant

Isaac Newton, the property manager of Segawa Market explained that they are offering the three promotional free months because they understand that when starting, business can be hard and challenging. “So we want our tenants to have a time to settle in and start making money,” he said.

Sentongo, the CEO of Haruna Enterprises said that they will continue to provide and respond to the needs of Ugandans noting that the future of Real Estates in Uganda is very bright considering the huge endowment of natural resources. “Haruna Enterprises is well poised to harness these opportunities with relentless drive and commitment it has taken to become the leading player in our various markets,” he said.

Haruna Enterprises Pledges To Provide Affordable Commercial Rentals

In business circles, most successful people turned other people’s challenges into opportunities. They provided a solution to someone’s need. And as a growing society, Haruna Sentongo says his firm Haruna Enterprises is committed to providing solutions to challenges Ugandan business communities are facing.

Haruna Enterprises has risen to the top as a preferred real estate company providing rental space for small and medium enterprises in Uganda’s capital Kampala. Haruna Towers in Wandegeya, Haruna Shopping Center in Ntinda have been definitive in providing shelter to vital business for these communities.

“The future of Real Estates in Uganda is very bright considering the huge endowment of natural resources, the abundant pool of skilled work force and the enormous market potential the Country offers to investors,” Sentongo says.

“Haruna Enterprises is well poised to harness these opportunities with relentless drive & commitment it has taken to become the leading player in our various markets,” he says, stating that Haruna Enterprises continues to grow its vision of becoming the leading provider of integrated prime world class commercial offering, across the region.

Nakayiza Market

Haruna Enterprise owns Nakayiza Market in Mengo Kisenyi. This is the only market in Kampala selling agro produce. Traders go to the village buy farm produce and bring it Kampala for resale to local and international consumers. “Some of these traders bring these farm producer from the village and add value at the milling companies and bring it here because Nakayiza market is known market for agro produce,” Isaac Newton, the property manager at Nakayiza Market.

Some of the largest food and beverage producers depend on Nakayiza Market for input supplies.  From Nakayiza they get millet, sorghum, maize, cassava flour, fruits, vegetables, cereals, rice and sugar among others. The busy market with over 600 shops gets exporters from outside Uganda making it also an international market.

The market is fully furnished with electricity, water, parking, toilets, a bank, mobile money agents and private security supervised by Uganda Police among other amenities that make running a business easy.

Segawa Market

Just a stone throw away from Nakayiza Market sits an expansive Segawa Market which unlike Nakayiza is specialized in selling spare parts for bicycles, motorcycles, motorcars and other small machinery.  It boosts of 300 spacious shops, many of them still available. 

Isaac Newton, the property manager of Segawa Market said that they are offering three promotional free months to new tenants because they understand that when starting, business can be hard and challenging. He also reveals that landlord at Segawa Market fully pays for utility bills without asking for a penny from the tenant.

Agency Says Uganda’s Real Estates Sector Headed In Right Direction

Businessman Haruna Sentongo, the proprietor of Haruna Enterprises says the future of real estate sector in Uganda is very bright.  He says that this will be possible because Uganda is endowed with various land resources, human capital and growth potential.

However the real estate sector, for various reasons, is one of the sectors in the country which is so dynamic and continues to give investors a tough time to make strategic investment decisions.

It is characterized by investment and price fluctuations. Investors sometimes fail to find a balance between demand and supply. Sometimes there are too many properties in the market with few buyers while sometimes buyers acutely want properties to lease or purchase.  

Value and wealth

This dynamism is sometimes caused by economic speculation, corruption, market trends and politics. One thing for sure is that Ugandans still attach so much value to land and property. Many people use real estate projects to store and hide their value and wealth.

Because of this promise, Uganda has seen a myriad of real estate companies open shopping to compete for this limited market. But despite this competition, Haruna Sentongo Haruna Enterprises, a prominent real estate company in Kampala, says the future of real estate in Uganda is very bright.

“The future is very bright considering the huge endowment of natural resources, the abundant pool of skilled work force and the enormous market potential the country offers to investors,” Sentongo says.

Through his Haruna Enterprises, Sentongo has built a reputable profile as a respondent to the needs of the sector. His name is attached to iconic properties like Haruna Towers in Wandegeya, Haruna Shopping Center, a multipurpose mall in Ntinda and new upcoming projects in Mengo and neighboring suburbs.

Huge potential

And with noticeable success, Haruna Sentongo is not sitting on his laurels but rather going after the potential that the real estate sector in Uganda presents. “Haruna Enterprises is well poised to harness these opportunities with relentless drive and commitment it has taken to become the leading player in our various markets,” the businessman explains.

This state-of-the-art Haruna Towers provides evidence of the commitment to remain sensitive to the natural surroundings and protect the mature oaks already established on the property. The facility offers rentals for various business options including office space.

Haruna Shopping Mall houses Leading telecom outlets, leading beauty salons and spurs, accessories’ shops, boutiques, cosmetics shops, an up-to-the-minute food court and cafes, first offices, A mega 3D & 5D cinema hall, gymnastics, sauna and steam baths and a mosque for periodical prayers.

Sentongo says Haruna Enterprises serves the needs of all customers in Uganda and the East African region at Large. Through its various properties, Haruna Enterprises, houses the offices of multinationals like UMEME, national offices of The Hunger Project Uganda and Global Institute of Information and Technology among others.

Still informal sector

Catherine Nanteza, chief executive officer of the Association of Real Estate Agents (AREA) recently told Daily Monitor that despite the real estate sector is highly informal, it can contributes 10 percent to Uganda’s Gross Domestic Product, if well regulated.

Many huge projects are done by individuals and are not well documented which means they remain formally unknown and untaxed.

Liberia, Niron Metals Sign MoU To Export Zogota Iron Ore

The Government of  Liberia and Niron Metals Plc jointly announced the signing of a Memorandum of Understanding (MOU), regarding the passage through Liberia of iron ore from the Zogota iron ore deposit in the Republic of Guinea . The MOU relates to the use of existing rail and port infrastructure in Liberia.

The signing of the MOU follows the joint vision of economic cooperation, expressed by the leaders of the republics of Guinea and Liberia, H.E. President Alpha Condé and H.E. President George Weah, at a meeting held in Dakar on the 2 April 2019.

The Government of Guinea has already given authorisation for Niron to export material from Zogota in compliance with the Mining Code of the Republic of Guinea 2013.

The Chairman of the Liberian National Investment Commission, Mr Molewuleh Gray said: “This agreement opens a new chapter and supports the development of a world-class mining and logistics project for the benefit of the people of the Mano River Union.  

“The Government will now initiate discussions with the railway and port concessionaire, relating to third-party access rights. Thereafter we anticipate accelerated tripartite discussions to commence”.

Sir Mick Davis, Chairman of Niron said: “This MOU is an important milestone in our plans to develop the Zogota project. We intend to complete our feasibility study within six months and continue to work with relevant stakeholders to bring Zogota rapidly into production for the benefit of all.”

The MOU signatories from the Republic of Liberia were Hon. Samuel A. Wlue Minister from the Ministry of Transport, Hon. Gesler E. Murray, Minister from the Ministry of Mines & Energy, Hon. Molewuleh B. Gray, Chairman of the National Investment Commission, Hon. Samuel D. Tweah, Minister from the Ministry of Finance & Development Planning with their signatures attested by Cllr. Frank Musa Dean Jr. the Minister of Justice/Attorney General of the Republic of Liberia.

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