Bank of Kigali unveils mortgage services for Savannah Creek Estate

Bank of Kigali Plc has announced a fully-fledged mortgage service designed to provide homebuyers at Savannah Creek Estate with competitive financing packages. The announcement was made by Desire Rumanyika, Chief Digital and Retail Officer at BK, during the official launch of the Savannah Creek Estate construction project in Kangondo, Nyarutarama Cell on Friday, February 14. Savannah Creek Estate is a major real estate development set to include approximately 600 homes, with the first phase, comprising 100 units slated for completion by October 2026. ALSO READ: Bank of Kigali takes affordable housing mortgage loans scheme to workers The development will feature six architectural styles, including Contemporary, Tuscan, Tropical, Mediterranean, and Classical designs. The houses will be priced between $ 300,000 and $ 800, 000. Kangondo was identified under the Kigali Master Plan as part of the city’s broader initiative to modernise and enhance urban living standards. As part of this transformation, BK has also financed apartment blocks in Busanza to facilitate a smooth transition for relocated families. “This financing underscores our deep commitment to responsible urban development, ensuring that no one is left behind as the city evolves,” Rumanyika noted. BK’s partnership with Savannah Creek Development Company is centred on quality, sustainability, and long-term value creation. “Savannah Creek has made a significant investment in acquiring this land, and the next bold step is to develop a world-class residential community for high-net-worth individuals,” he explained. ALSO READ: BK launches new online loan repayment feature Rumanyika revealed that BK is working with Savannah Creek to finance the development of 500 premium properties. He pointed to the three showcased model homes, which feature diverse luxury architectural styles, allowing potential buyers to make informed decisions. “We understand that homeownership is more than just a transaction—it’s a life milestone. Through our BK Mortgage Centre, we offer flexible and competitive financing solutions for individuals purchasing these premium properties. Whether you’re buying your first luxury home or expanding your real estate portfolio, BK is ready to finance your ambitions. “Our mortgage terms extend up to 20 years, making homeownership more accessible and sustainable,” he said. Dennis Karera, Chairman of Savannah Creek Development Company, described the project as a milestone in Kigali’s urban transformation, calling it one of the most successful public-private partnerships in the city’s history. “This development will include approximately 600 homes, providing housing for around 6,000 people,” he said. He added that the initiative aligns with the Kigali Master Plan, ensuring all construction meets high urban development standards. Karera noted that the entire project is expected to be completed in about three and a half years, featuring top-tier residential buildings, diverse home designs, and apartment units. “Model houses have been built to help buyers choose their preferred architectural style before construction begins,” Karera explained. Beyond housing, the development will feature a fully-fledged British international school that follows a British curriculum. Bernard Bayasese, Executive Administrator of Gasabo District, underscored the significance of housing in Kigali’s development, noting its impact on both the city's economic growth and the well-being of residents. He also pointed out that investments in residential development drive job creation and improve overall quality of life. “This project is about more than just homes—it’s about creating a modern, dynamic Kigali that reflects the aspirations of its people,” he said.

News

Bank of Kigali unveils mortgage services for Savannah Creek Estate