RWANDA – Shelter Afrique has approved the development of a 10,000 integrated and sustainable large scale housing project in Kigali, Rwanda.
The project is being implemented in partnership with Rwanda Social Security Board (RSSB), Ultimate Developers Limited (UDL), Development Funding Institution (DFI), Eastern and Southern African Trade & Development Bank (TDB), The Development Bank of Rwanda(BRD) and an internationally acclaimed large scale Engineering, Procurement and Construction (EPC) contractor.
The project is expected to cost approximately $400 million out of which TDB has approved a facility worth US$150 million to Shelter Afrique to support the first 2 phases of the project.
Announcing the project, Shelter Afrique Board Chairman Dr. Steve Mainda said the Company is committed to its 2019-2023 strategic goals which focuses on achieving development impact on all large scale housing projects so as to achieve the creation of value for shareholders.
“As a board we are committed to ensuring that the Company achieves its mandate of providing affordable housing across Africa by embracing viable public-private partnerships such as this Kinyinya Park Estate housing project,” Dr. Mainda said.
Commenting on the development, Shelter Afrique Group Managing Director and Chief Executive Officer Andrew Chimphondah said that the sizeable housing deficit in Africa could only be addressed by undertaking large-scale housing development projects.
“It is the reason our strategy places a premium on Private-Public-Partnerships (PPPs) which we believe are critical to delivering affordable housing. We are also exploring similar projects in Kenya, Tanzania, Uganda, Zimbabwe, Ivory Coast and Nigeria. We expect to have these projects replicated in most of our member countries going forward,” Chimphondah said.
The Kinyinya Park Estate project is Shelter Afrique’s second large-scale housing development project in Rwanda after the Company commissioned 3000 affordable housing units in Rugarama Park Estate in Kigali in June 2019.
The project is located in the Gasabo District, Kigali, Rwanda, approximately 7 km from the proposed new Central Business District at Muhima and 8 km away from the Kigali International Airport.
The project has been conceptualized by Shelter Afrique and the EPC contractor to help address the large affordable housing shortage in Rwanda with the development of a sustainable urban mixed-use community.
The project will ultimately be a 10,000-unit community developed by Shelter Afrique across 5 phases over 3 – 4 years, consisting of 10,000 affordable apartments and 200 units of commercial outlets including schools, shops and business facilities on behalf of RSSB.
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