DN International has said that it has secured three hectares of land at Gisozi sector, Gasobo district where it will construct 700 housing units to cater for middle class citizens.
The $50 million investment is the third project in the country by the real estate developer and will kickoff in a period of six months.
Nathan Loyd, the CEO of DN International told Business Times in an interview that the company will also launch its $6.4 million estate project that contains 50 residential housing units by the end of April this year.
He said: “This estate is more spacious with more facilities such as servants’ quarters, contrary to the first project (Hill View Estate).
“We are now doing the final finishing touches.”
The houses, located in Rusororo, Gasabo district on a plot of 8 hectares, will help Rwanda to bridge the current housing deficit that is estimated at 25,000 units annually.
Loyd said that the project dubbed “Green Park Villas” is intended to address the housing needs of the middle and upper class Rwandans.
The estate comprises of among other facilities, a communal swimming pool, a commercial centre, a recreation centre and a water treatment facility.
The 4 bedroom houses will cost Rwf75million and payment will be effected in 10 to 15 years with an initial deposit of 30 percent.
He said the Kenya Commercial Bank (KCB), which signed a memorandum of understanding with the firm to finance the construction and facilitate the end users, will be dealing with the clients.
DN International has also invested in “Hill View” estate of 28 units worth $3.2 million.