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THE FUTURE
Building Tomorrow's Infrastructure Today
Real estate
Under the brand name “Baobab warehousing” we are developing a site in Namanve, Kampala for industrial and warehousing usage. The site is strategically located on the Jinja road approaching Kampala from the Kenyan border, and close to the turnoffs for Rwanda, South Sudan and DRC. Noticing a lack of quality warehousing space in the Ugandan capital (with space for truck turning, loading/offoading, weighbridges, high roofs, etc.), we purchased this site and have begun to develop it. Phase 1 (3,500 sq m) is now complete and rented out, and Phases 2-4 will result in a total of c. 35,000 sq m of lettable high-quality warehouse area and additional office / showroom space at the roadside
Residential and Industrial infrastructure development:
Dar es Salaam is a city with over 5m inhabitants, growing at around 6% per year. In 2015, the African Development Bank noted it as Africa’s fastest growing city. However it has historically been constrained to grow geographically, with the Indian Ocean to the East and a creek to the south impeding natural urban growth. With the current construction of a bridge to the south of the city (Kigamboni and beyond), that area is becoming more accessible and there is increasing demand for both residential and industrial development there. Sumaria has built up a landbank and has been working on several projects in the area to create developments suitable for both residential and commercial occupation.
Retail
Dar es Salaam, despite its size, currently lacks quality formal retail space. Seeing the pressure from retailers for shopping malls and other outlets, Sumaria, along with partners, has two prime pieces of land which are planned to be developed into shopping malls.
Others
Sumaria believes in being open to new ideas and taking calculated risks to exploit opportunities as they arise. We have taken non-controlling stakes in businesses as investments in the past, and will continue to do so. One such investment currently is a small stake in Bank M, one of the fastest growing banks in Tanzania. Only 8 years old, it is already in the top 8 banks by several measures, and continues to grow profitably. We remain on the look out for additional attractive investment opportunities in the region
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