After being auctioned in September this year, the former tycoon Tribert Rujugiro Ayabatwa’s owned mall, Union Trade Center (UTC) has been rebranded to Kigali City Mall (KCM)
The new proprietor, Kigali Investment Company (KIC) bought the mall in an auction at Rwf6.8 billion following the former owners’ failure to clear tax arrears with Rwanda Revenue Authority (RRA).
Speaking to IGIHE, the KIC Managing Director, Godfrey Kayumba said that some tenants that had left the mall during the auction period have come back to reintroduce their businesses.
He said earlier, tenants had left their working place fearing that the mall could be closed or razed down.
“Under new management, we urged existing tenants to continue their operations; requested other clients to come back and by now 90% have returned,” he said adding that the mall is almost fully occupied.
Workers rebranding UTC Building's look
Tenants have continued their Operations
The new proprietor, Kigali Investment Company (KIC) assured Security reinforcement in UTC