KIGALI, AUGUST 6, 2015: Due to the demand of housing in Rwanda, many investors are now turning to real estate because it requires less input and gives strong return. Many housing projects has been proposed and some are already under construction to help bridge the gap.
Leading online property portal Lamudi Rwanda looks at the top three housing projects in Kigali.
Batsinda 7,480 housing units
Expected to be completed in 2017, this project started in February, 2015. The project will be built in phases, between 2,000 and 2,500 units in each phase. It will bring the cost of a unit to as low as Rwf 20 million which will undoubtedly help reduce demand of affordable housing in the country. They plan to expand the project to reach 560,000 units by 2020, meaning 93,400 units must be constructed every year from today.
Gacuriro and Kinyinya housing project
Rwanda Social Security Board (RSSB) project is under construction with 1,000 housing units for both the middle and high class. 500 units to be built in Gacuriro and the other 500 in Kinyinya Sector, Gasabo district. Each unit will comprise of a lounge and dining area, kitchen, store and a guest room. Three additional bedrooms upstairs and one will a master bedroom which is en suite and an attached domestic servant’s quarter. In addition all the units have a car park and landscaped front and back yard.
Vision City is the biggest housing project in Rwanda to date. It is a high-end residential and commercial development. It is the flagship project from the country’s largest real estate developer Ultimate Developers Ltd. It will have more than 4,500 units, ranging from luxury villas and apartments. It will be built in four phases over a period of eight years, with phase one slated for completion in mid-August 2015. In addition to residential housing, the development also has a town center, which will serve as the commercial hub of the estate. The town center will be WIFI-connected with commercial and retail facilities, a supermarket, restaurants, office complex, a luxury three-star hotel and convention center.