Construction works of the Kigali Financial and Business Square (KFBS) have reached the halfway point, following the completion of the shell and core structure of the towers, according to the developers.

The 24-story complex sits in Kigali’s central business district and forms part of a proposed financial and business square.

It is expected that contractors will now begin construction works on the façade, mechanical and electrical systems, plumbing, and interior fittings, with completion slated for the end of 2026.

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The property is being developed by Equity Holding (EH) Venture Capital, an investment arm of Equity Group.

Upon completion, it will boast a complete office of a 24-story building, a hotel, apartments, and retail spaces.

The proposed twin tower building is expected to attract investment banks, technical specialists in development space, legal firms, and experts in finance.

It is also expected to house a regional office of the International Finance Centre, a regional arm of the African Development Bank, as well as the Equity Group regional office.

"We still have another 50 percent to go, with the goal of having the offices fully operational by the end of next year and the hotel open by the end of 2027,” Evans Njuguna, director of EH Venture Capital Rwanda Limited, told The New Times.

Njuguna also pointed out the technical demands involved in constructing in the CBD, citing the contractor’s role in managing those conditions.

China Railway Jianchang Engineering Company (CRJE) (East Africa) Limited, who are the contractors, told The New Times that the project has faced some engineering challenges along the way, particularly during the excavation and foundation phase.

Xu Jing, Country Manager of the Chinese construction firm, said that the deep foundation pit required additional reinforcement after parts of it shifted, prompting the team to deploy corrective measures using what they described as advanced construction techniques.

"The next phase of the construction will be much more complicated than the structure,” he said, pointing to challenges encountered earlier with the deep foundation pit and the site’s safety requirements.

"Looking ahead, we will continue to uphold high standards and work closely with all partners to ensure the successful completion and handover of the project as scheduled," he said, adding that construction has also created valuable employment opportunities.