Ownership
The property laws in Gambia are based on the UK system, meaning most properties are leasehold. A leasehold is the ownership of a temporary right to hold land or property in which a (sub) lessee (the buyer) has rights of real property by form of title from a lessor. A leasehold estate is considered personal property.
The developer or Kololi Gardens, Omnium, is the main lease holder of the land on which Kololi Gardens is constructed. The lease was issued by Gambian government on 17th of September 2019 for a period of 99 years, which automatically renewable. As a buyer you will be issued after handover an underlease for the unit you have purchased. This underlease commences on the date the underlease is registered by the government and ends on the same date as the main lease but is then automatically renewed. The main lease holder is responsible for paying the yearly land rates to Brikama Area Council, as a sublessee you will be charged for these rates through the yearly Management Fee.
Taxes and cost related to the purchase
As a buyer you are due to pay a stamp duty. The stamp duty is payable after handover and before your underlease document is issued. At present (2023) the stamp duty is 2%. Other costs related to the preparing and completing of the underlease document are the processing fees and admin fees. At present (2023) these fees are 31,500 Dalasi. These costs and taxes are subject to changes by government and other official institutions.
To have your underlease issued, you are required to have a TIN number issued by the Gambia Revenue Authority. This can be easily obtained from any of their offices upon presenting your ID card.
Management fees
As an owner in Kololi Gardens you are due to pay a yearly assessment for services and amenities related to the communal areas and amenities of Kololi Gardens. This yearly fee covers among others cleaning of the communal areas and pools, sewage disposal, garbage collection, 24/7 perimeter security and CCTV monitoring, utility cost for the communal areas, Brikama Area Council rates and insurance for the communal areas and buildings.
These management fees will be set in the summer of 2026, and are dependent on the type of unit you have purchased. As an indication the fees will start from 1,080 Euro for a studio to 2,280 Euro for a penthouse (excluding VAT).
Asset Fund
Omnium (or the management company hired by the developer) is responsible on behalf of all the owners to take care of the maintenance, repair and replacement of all fixtures and fittings in the communal areas and equipment like the sewage plant, pool and pool pumps, CCTV systems, boreholes, generators etc etc. These will be paid for from the Kololi Gardens Asset Fund of which each resident is a shareholder. Upon handover the buyers need to deposit into the Asset Fund. The amount is depending on the unit you have bought but as an indication are from 50,000 Dalasi for a Studio to 120,000 Dalasi for a penthouse. This contribution is not yearly. Only once the entire fund drops below 5,000,000 Dalasi, owners will be asked for a new compulsory deposit (pro rata) in the fund.
Kololi Gardens Rules & Regulations
To ensure a comfortable living in Kololi Gardens each owner must respect the rules and regulations of Kololi Gardens. These are set up to ensure the enjoyment of property and to ensure that the complex maintains it’s look and feel as set out by the developer.
Warranty
The developer issues a structural warranty of five years on the completed building, in addition to warranties on fixtures and fitting of up to two years. Upon handover a detailed warranty list will be issued to the buyers.
Utilities
Each apartment in Kololi Gardens is connected to the national electricity grid (NAWEC), a cash power meter is installed, and units can be purchased at reception of via other vendors. There is a 24/7 standby generator which kicks in once there is a cut from the grid. Each apartment has a meter to register the consumption and owners will be invoiced quarterly for the consumed units. The same applies for water usage.