Rwanda is currently growing its potential for real estate investment and is attracting international estate developers particularly from the Middle East. Real estate and construction sectors grew by over 15% and contributed US$141m to overall Gross Domestic product (GDP).
The City of Kigali is promoting the development of the following housing projects to meet its urbanization and town development goals.
1. Kimihurura Gateway Project
Size: The project is expected to cover an area of 53 hectares. The City is currently undertaking expropriation plans, and by 2009 acquisition of land for developments will be ready.
Objective: To create a vibrant tourist and financial hub.
Opportunity: Investors planning to acquire prime land with the aim of developing
commercial buildings that can be rented or resold at premium prices can benefit from the Kimihurura gateway project.
Project advantages:
• Well structured transport and sanitation system in and out of the gateway
• Aesthetically appealing with beautification and fountain areas allocated
• Increased building density and vitality
• First mover advantages available for investors who buy land after expropriation
• Supportive City Council as well as assistance from the national investment agency, RIEPA, if need be.
Cost of Investment: The cost of investment is competitive in comparison to regional rates, depending on available land. High returns are expected.
2. Akumunigo Development Zone
Real estate investors have the
opportunity to acquire expropriated land and develop residential housing for low to middle income earners. 58 hectares of land have been identified for this purpose.
Investment advantages
• Improved infrastructure – drainage, communication and electricity will be availed by the city
• Organised housing that increases the value of each unit
• Support from the city council and RIEPA.
• Favourable returns in form of rent and re-sale value
3. Kimichanga Development Zone
The Kimichinga development zone is a 50 hectare prime land aimed at providing land for expansion of Kigali’s central business district (CBD) as well as development of upmarket residential housing.
Investors targeting high income earners have the opportunity to build office parks and houses in a zone with a scenic view of the City.
Advantages
• Appealing view of the city and natural endowments
• Increased building density and ability to create a combination of home and work places that benefit high income earners
• First mover advantages available for investors who buy land after expropriation.
• Established transport and sanitation systems
For further information on investment opportunities in Rwanda contact the Rwanda Investment Export Promotion Agency (RIEPA).
Key contact: Christine Akuzwe
Investor Mobilizer Officer
Email: info@rwandainvest.com
