Imara Properties, a French-Rwandan real estate development firm, on January 18, 2024, handed over completed apartments in Isange Estate Phase II to buyers. Isange Estate Phase II sits on the scenic Rebero hill—a rapidly developing area in Kicukiro District, Kigali City. Imara Properties specialises in developing premium residential real estate, catering to both primary residences and rental investments in the heart of Kigali. The company’s diverse offerings include comfort villas and modern apartments, thoughtfully designed to suit the unique preferences of different communities. Isange Phase II development boasts 12 modern comfort apartments and six villas. The project was completed in 14 months and owners are moving in. There is only one apartment left for sale. The handover ceremony was attended by representatives from the business community, the French Embassy, the European Business Chamber in Rwanda, the French Business Club in Rwanda, Kicukiro District officials, and other local authorities. David Benazeraf, Managing Director of Imara Properties, said the project comes as a response to rapid urbanisation, since the demand for housing in Kigali is high in all kinds of market segments. “Two years ago Rebero had almost only fields, and there were not many construction projects. Rebero is now changing and urbanisation is very vast. Over time, apartments will take over houses, as land becomes rarer,” he said. Isange Phase II is located in Rebero, 15 minutes from the Kigali Convention Centre and three minutes from Canal Olympia. “It offers an open community spirit with a common space such as a garden, swimming pool, and fitness room,” he said. Other Projects by Imara Properties Imara Properties is also developing Ituze Village Kanombe [Kabeza side], 20 minutes from the Kigali Convention Centre. It will offer a community spirit with 50 upcoming modern houses both for main residence or rental investment, as well as empty plots. All houses have bedrooms each. Each house will have its plot. The other project is Isange Apartments Kibagabaga. The project is set to be completed in early 2025 and will consist of 11 premium apartments and studios. Situated on a tarmac road, it will feature a swimming pool and a rooftop fitness area. Imara Properties completed the handover of Isange Phase I on Rebero hill in July 2022. The estate is now home to families of both owners and tenants, fostering a vibrant community spirit. The company operates in two market segments; those in need of comfortable villas and apartments, and economical communities of affordable houses. The French company also manages properties in Kigali. French investors increasing in Rwanda Vicky Murabukirwa, the representative of the French Business Club in Rwanda, commended Imara Properties’ projects, adding that French investors keep increasing in Rwanda. “French investors have invested in different sectors in Rwanda including real estate such as Imara Properties’ projects which created many jobs along the supply chain and transformed the city as well. There are hospitality projects including hotels, projects such as Canal Olympia, IRCAD, Inzovu project, and many others. French investment is growing in Rwanda,” he said. Murabukirwa is also the Managing Director of Duval Great Lakes Ltd, a local subsidiary of Groupe Duval—a French firm that has been in existence for about 25 years with stakes in real estate development, hospitality, food production, and investment funds among others. The local subsidiary is undertaking several projects including a multi-billion mall at the former Ministry of Justice location, adjacent to the Kigali Convention Centre dubbed Inzovu. RDB indicated that Rwanda registered French investments worth $197.5m between 2011 and 2021. Some of these investments were registered in the areas of real estate, technology and telecommunication, tourism, and the financial sector, among others.
