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The flats, which are held through the National Housing and Construction Corporation, are up for sale with sitting tenants expected to be given the first chance to buy them.
However, a source close to the process told The Monitor that government has a "plan b," which could see the flats sold off to rich individuals or institutions.
A source at Bageine and Company, a property management firm that is carrying out the valuation, told The Monitor recently that they have been valuing the flats as individual units, and as blocks.
"Some of them might be sold off as blocks," said the source, who asked not to be named.
If the flats are sold as blocks, then it will be a departure from government policy, and the Condominium Law, which was passed to enable sitting tenants to buy single units.
Mr John Tamale, a valuing officer at Bageine & Co. told The Monitor yesterday that the process of valuing the flats was complete.
However, he refused to give any details and said the information is confidential.
Officials at NHCC were tight-lipped over the deal.
The Corporation Secretary, Mr Peters Musoke, referred The Monitor to Mr Ham Tumuhairwe, the housing manager.
Although Tumuhairwe confirmed that the Corporation was set to sell the flats, he was tight-lipped about the terms and conditions of the sale.
"All that information is supposed to be given out by the Privatisation Unit," he told The Monitor in his office yesterday.
Mr Jim Mugunga, the Privatisation Unit's public relations officer said yesterday that the ministry of Finance expects the Corporation to handle the sale as the Condominium Law stipulates.
"If the details have been worked out, the final dispose is the responsibility of the corporation," he said.
The Minister of State for Housing, Capt. Edward Francis Babu said he had not heard of the move to sell the flats as blocks.
"That cannot be true; the policy says that every sitting tenant must get the first offer," he said on phone.
However, he confirmed the report that the flats have been valued as blocks.
"We are the ones who asked them to value them as blocks and as individual units," Babu said.
"However, if there is one block which is occupied by one institution, let's say like the ministry of Education, then it can go ahead and buy the whole block," Babu added.
National Housing owns flats in Kololo, Bugolobi, Bukoto, Nakasero and along Lumumba Avenue.
A total of 98 flats in Kololo, Nakasero and Lumumba Avenue are up for sale in the first lot.
The flats in Bugolobi and Bukoto will be sold thereafter.
The condominium statute, under which flats sharing common facilities like ground and plumbing systems can be sold to sitting tenants, was passed into law in January 2001.
The condominium concept enables residents in flats to buy their units and share in common items like land and plumbing.
The owners of the flats then form a corporation to manage the common services they share.
The Bugolobi flats have been reportedly valued at Shs 40m each, and prospective buyers will pay a Shs 10m down payment and later pay in instalments for 15 years.
A senior official at the NHCC confided to The Monitor this week that the corporation had already prepared offers for sitting tenants and were ready for dispatch if the NHCC Board of Directors approved a request to secure mortgages for the buyers.
NHCC, a government Parastatal was established in 1964.
Since its establishment, the corporation has put up over 1,700 flats, maisonettes and bungalows.
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