00:00:00 IGIHE NETWORK KINYARWANDA ENGLISH FRANCAIS

KBC put up for auction

By IGIHE
On 20 juillet 2022 at 03:08

Kigali Business Center (KBC), a commercial building located in Kimihurura of Kigali City has been put up for auction over a debt its owners owe to BPR Bank Rwanda Plc.

The building opposite Kigali Convention Centre was refurbished and reopened four years ago.

It is located in a Kimihurura Gateway, an area reserved for different businesses, hotels and entertainment activities.

The statement announcing the auction reads that bidders of the the building worth Rwf23.8 billion, must present a surety worth Rwf1.19 billion.

The Managing Director of KBC, David Mporanyi told IGIHE that the business complex was completed at a tune of Rwf21 billion of which 48% of the funds was provided by the investor while 52% was a bank loan.

The auction is open from 17th July 2022 to 24th July 2024.

KBC is a household name of a commercial building that existed since 2003. The building underwent a major facelift since 2016.

It houses different companies including La Planète Club, Chicken Tonight, Sony and Brioche.

Other businesses in the KBC include supermarkets, banks, clothes’ stores, pharmacies and restaurants among others.

The building has 13,477 square meters reserved for retail spaces, 4,000 for office and more than 200 parking spaces.

It was constructed by a Chinese construction firm dubbed Beijing Construction Engineering Group (BCEG) while its design was conceptualized by a Belgian company, CERAU.

KBC was refurbished in 2018.

Advertisement

YOUR OPINION ABOUT THIS ARTICLE

RULES AND REGULATIONS
Kwamamaza