Kampala- The ministry of Lands, Housing and Urban Development has initiated plans to draft the Real Estates Agency and Management Bill aimed at regulating the sector.

According to Ms Dorcas .W. Okalany, the permanent secretary (PS)ministry of Lands, when enacted into law, the Bill will ensure sanity in the real estate business.

“The government of Uganda has received financing from the World Bank towards the Competitive and Enterprise Development Project and intends to apply part of the proceeds for consulting services for the proposed real estate (agency and management bill),” she said.

The ministry now invites eligible consulting firms to indicate their interest in providing the services, Ms Okalany said in statement issued on Wednesday.

She further explained: “Interested consultants should provide information demonstrating that they have the required qualifications and relevant experience of at least 10 years in real estate and housing issues to perform the service.”

In the statement, companies can jointly apply but should be clearly indicated. Closing date for submission of applications is set for January 18.

When contacted, Mr Denis Obbo, the spokesperson of the ministry, said the bill is part of the $54 million four component project.

Mr Obbo noted: “We aim to establish legitimacy and to build public confidence in land service delivery.”