Remote Estates, a subsidiary of Remote Group of companies which is widely known as an engineering, construction and project management firm, has committed to helping Rwandans own houses by developing modern yet affordable units.
This is in line with the government’s policy of increasing urban population to at least 35% by 2020, posing need for 56,000 affordable housing units to meet the target. As a strategy, the government has approved the fund for developers of affordable housing to acquire funding at a lower interest rate compared to bank loans.
Having operated in Rwanda since 2016, Remote Estates has realized the need of affordable housing units and decided to venture into developing modern units which any interested clients can purchase.
Remote Estates’ Operations Manager, Ido Herman, reveals to IGIHE the company has spent enough time in the country to know the needs on the ground yet few projects are in place to address the needs. Herman says Remote Estates will develop 270 affordable housing units in Masaka, Kicukiro District.
The cost of a three-bedroom apartment with its facilities starts $35,000 (around Rwf30 million). The interior of the apartment is incremental to allow the owner to customize the inside walling the way they want. Self build is an option to keep the costs down, but buyers can also choose for a complete apartment.
The units will be constructed using Autoclaved Aerated Concrete (AAC), the construction material that is widely used in developed countries in America, Europe and Asia.
AAC helps reduce at least 30% of environmental waste and decrease 50% of greenhouse gas emissions as opposed to traditional concrete cement.
Herman says that interested clients choose the best ways for them to afford paying the unit of their choice including paying in five installments with the first installment due at the beginning of construction works.
Equipped developer to deliver on time
While some investors start projects and fail on the way due to their dependence on expected funding which may not be disbursed, Herman says that Remote Estates has all the required means to deliver the project on time without waiting for any external funding.
“We have heard of previous housing projects where investors only built 5 or 10 houses, and failed to complete the project. It won’t be the case for Remote Estates, as we are a private company capable to deliver our project without relying on other institutions,” says Herman