
Photo Credit: Church of Uganda
[Church of Uganda] Plans for Church House as a commercial real estate enterprise were first drawn up by the Provincial Assembly in 1966 but stalled for various reasons for the next 45 years. By 2015 Church House, however, will be fully operational at 16 levels.
The original proposed site for Church House was on Shimoni Road. Since, the Bank of Uganda, however, proposed to take over the Shimoni Road site, that property was exchanged for Plot 34 on Kampala Road in 1972. Church House Company was registered in 1971 as a Private Limited Company.
In 2009, the Trustees of the Church of Uganda (all Diocesan Bishops) resolved that all business enterprises of the Church of Uganda must come under one Board of Directors. Accordingly, the Church House Company and the Church Commissioners Holding Company Limited were merged into one entity with a new Board of Directors and new management.
At the same time, the Trustees also realized the importance of professionalizing the Board of Directors by appointing business-minded Christians. After a series of unsuccessful attempts at raising the funds for construction from well-wishers and partners outside of Uganda, the Board of Directors and Trustees had a breakthrough – the unutilized assets of the Church could be re-invested into Church House.
Dioceses began selling their unutilized land in Kampala and in their Dioceses and buying shares in Church House. Together, they raised 30% of the construction costs, and construction began in December 2010.
With this local investment and commitment from the Church of Uganda, Equity Bank agreed to a US$10 million loan and a 5 billion shilling loan to bring the building to completion. The loan had a two-year grace period, during which time the Church of Uganda paid only the interest on the loan. The balance of the loan will be repaid over a ten-year period using income received from tenants. There is a growing list of quality tenants who are interested in renting space in Church House.
The project temporarily stalled during 2013 due to a conflict between two parties involved in the construction. The conflict was successfully resolved and construction was re-started in July 2014.
Staff from the Provincial Office and Equity Bank toured Church House on Wed, 9th July 2014. They conducted a prayer walk to commit the final construction to the Lord and His faithful timing for completion.