Imara Properties completes second phase of Real Estate Project in Kigali

On 22 January 2024 at 09:12

The City of Kigali has welcomed the completion of the second phase of residential construction in Rebero by Imara Properties, a successful collaboration between Rwandan and French investors. This accomplishment signifies a noteworthy advancement in the urban and economic development of the Rwandan capital.

The initial phase of the project, Isange Estate, concluded in 2022 with the construction of 15 houses, all of which were quickly occupied. The second phase includes an additional 18 houses, consisting of six standard houses and 12 apartments, thereby contributing to the diversification of the city’s residential offerings.

Families particularly appreciate the equipped playgrounds for their children, fostering a close-knit and intergenerational community.

David Benazeraf, CEO of Imara Properties, highlights the positive impact of the project on local property values and its significant contribution to the growth of Kigali. "By initiating this project in 2021, we transformed a village into a dynamic neighborhood, thereby enhancing the value of the surrounding land," he states. He emphasizes the company’s commitment to providing quality housing, thereby contributing to Rwanda’s economic development.

Murabukirwa Vicky, heading the association of French commercial companies in Rwanda, also recognizes the significance of this project for the local economy, emphasizing the employment opportunities generated for many Rwandans.

The company has plans to construct housing units in the Gasabo and Kicukiro districts, with real estate projects in Kibagabaga and Kanombe, named Ituze. These residences, valued between 60 and 145 million Rwandan francs, will be constructed with environmental considerations and offer generous communal spaces.

Each building, featuring four bedrooms, three bathrooms, a kitchen, and parking, has a floor area ranging from 89 to 97 square meters, combining comfort and modernity.

This development is part of Rwanda’s ongoing efforts to improve housing and accelerate its urban development. The Rwandan government aims to build 150,000 homes by 2050, with the ambition of increasing the urbanization rate to 70%. For this purpose, 1,100 hectares across the country, including 890 in Kigali, are dedicated to social housing projects.

The city of Kigali, expected to host 3.8 million inhabitants by 2050, has a crucial need for 859,000 homes to accommodate this demographic growth.