Environmental & Social Review Summary
Project Number
27744
Company Name
PINE INVESTMENTS LIMITED
Date ESRS Disclosed
Apr 21, 2009
Country
Uganda
Region
Africa
Last Updated Date
Jun 3, 2021
Environmental Category
B - Limited
Status
Completed
Previous Events
Approved : Jun 19, 2009
Signed : Jun 22, 2009
Invested : Jul 13, 2010
Sector
Construction and Real Estate
Industry
Tourism, Retail and Property
Department
Regional Industry - MAS Africa
Project Description
This project includes construction and operation of a commercial (retail and office) building in Kampala’s Central Business District (CBD) to be named ‘Rwenzori Towers’ by Pine Investments Ltd., an established property development company in Uganda. Pine Investments is owned by three local businessmen, Mr. Charles Lubega, Mr. William Byaruhanga and Mr. Henry Lubega.
Pine Investments will construct the building including the parking area, public access areas i.e. the lobby, and washrooms, while tenants will undertake their own finishings. The building will be a twin six storey structure with retail space on the ground floor and, above this floor, offices. Below the ground floor will be three levels of parking. The project is effectively an expansion to the two adjacent commercial buildings i.e. Rwenzori Courts and Rwenzori House, which are owned by Mr. Charles Lubega and Pine Investments respectively, so as to create an integrated commercial centre. The developable area is 0.75ha.
Once constructed, the development will be managed by Knight Frank, an international property services company that currently manages the other two commercial properties adjacent to the development. Thus Knight Frank will be responsible for leasing the property and managing tenants and the property itself and will employ the individuals undertaking these tasks.
Pine Investments will construct the building including the parking area, public access areas i.e. the lobby, and washrooms, while tenants will undertake their own finishings. The building will be a twin six storey structure with retail space on the ground floor and, above this floor, offices. Below the ground floor will be three levels of parking. The project is effectively an expansion to the two adjacent commercial buildings i.e. Rwenzori Courts and Rwenzori House, which are owned by Mr. Charles Lubega and Pine Investments respectively, so as to create an integrated commercial centre. The developable area is 0.75ha.
Once constructed, the development will be managed by Knight Frank, an international property services company that currently manages the other two commercial properties adjacent to the development. Thus Knight Frank will be responsible for leasing the property and managing tenants and the property itself and will employ the individuals undertaking these tasks.
Overview of IFC's Scope of Review
The IFC’s appraisal of this project included the following:
- Review of the mandatory environmental impact assessment (EIA) as submitted to the National Environmental Management Authority (NEMA);
- A meeting with NEMA representatives;
- A review of conceptual design information;
- Meetings with the project team including the Project Manager, civil and mechanical engineers and architects;
- Meetings with Knight Frank, the property management company; and
- A site visit.
- Review of the mandatory environmental impact assessment (EIA) as submitted to the National Environmental Management Authority (NEMA);
- A meeting with NEMA representatives;
- A review of conceptual design information;
- Meetings with the project team including the Project Manager, civil and mechanical engineers and architects;
- Meetings with Knight Frank, the property management company; and
- A site visit.
