Homart Properties has expanded its presence in Rwanda’s high-end real estate market with the launch of Greenland Plaza, a premium residential complex featuring 84 units across 15 floors. Standing nearly 50 metres high and covering 10,000 square metres near the city centre, in Kiyovu, the project which cost over $25 million fits into the City of Kigali’s urbanisation plan. The launch, held on March 21, brought together business leaders, real estate investors, government officials, and Homart Properties’ leaders and clients. The event featured a ribbon-cutting ceremony symbolising the official opening of the apartments, followed by networking sessions and celebratory awards. ALSO READ: Kigali: 10 key projects to address housing demands Tiger Ben Xiao, the Chairperson of Homart Properties, reaffirmed the company’s deep-rooted commitment to investing in Rwanda. He said that Homart Properties has invested over $200 million in the country across various sectors, beginning with Kigali Ceramics and Kigali Plastics, before venturing into real estate in 2017 with Phoenix Plaza, which has since sold out its phase. ALSO READ: What types of homes, prices are set for 40,000 new plots in Kigali? “Rwanda is the only country that Homart Group will invest in real estate. The reason is we are very confident. I have travelled to more than 27 countries in Africa. And we have 11 branches in Africa. But the only destination, the only country we selected for real estate, is Rwanda.” Homart Properties builds and sells apartments to investors, who also have the option of entrusting property management to the company, ensuring a steady rental income. Greenland Plaza’s construction began in 2021 amid the challenges of the Covid-19 pandemic. Despite the difficulties, the company managed to deliver the project on schedule last December. Located near the Rwanda Social Security Board (RSSB) headquarters, Greenland Plaza is reshaping lower Kiyovu, an area once referred to as “Kiyovu Cy’abakene” (Kiyovu for the poor). Event host Arthur Nkusi suggested that with the premium apartments now in place, the area’s nickname should change. Greenland Plaza has two phases each with 84 units, in total 168 units out of 168 units, 130 were already sold out. The apartments include one-, two--, and three-bedroom units. The Greenland project has successfully completed Phase 1, which is currently operational. Construction for Phase 2 is underway, with plans for it to be functional in the near future. Additionally, Phase 3 is set to begin construction soon, marking the continued progress and expansion of the development. Xiao highlighted the investment-friendly approach, stating, “Clients simply purchase the units, and we handle the rest.” He reassured investors that they do not need to be based in Rwanda, as Link Property Management, a subsidiary of Homart Properties, manages the apartments and ensures investors receive their rental income monthly. Homart Properties is preparing to launch the Opulent Park, set to begin construction on March 30, 2025. Xiao said that 30 per cent of the units in this new project have already been sold, demonstrating the high demand for luxury housing in Kigali. Additionally, Homart’s properties Kicukiro Phoenix Apartments were fully sold out, and they have other projects such as Rose Garden, Elisabeth Golf Apartment, Phoenix Villa, Deco Centre (commercial building), Rosewood Residence, and Opulent Park. “Clients can see the quality of materials we use, the architectural designs, and the high standards we maintain.” Xiao noted that over 85 per cent of Homart’s clients are Rwandans, and the company offers special discounts for local buyers. Marie Solange Muhirwa who was representing the City of Kigali commended Homart Properties for aligning its projects with Kigali’s urbanisation agenda. She praised the company’s contribution to the city’s transformation, stating, “Homart Properties is helping the City of Kigali a lot to implement the master plan (urbanisation agenda). “This project of Greenland is going to transform the Kiyovu landscape and skyline. You are setting a line of what we should do in this neighbourhood. Muhirwa assured Homart Properties of the city’s full support in its upcoming real estate ventures. Simon Lee, the Managing Director of Homart Properties, highlighted Greenland Plaza’s significance in addressing Kigali’s growing housing demand. He described it as more than just a luxury housing project but also a lucrative investment opportunity. “What we offer here is not only a very good quality ratio product but also a very good investment plan for our investors,” he said. “Here we offer a guaranteed rental return which means the client will buy with us and get a fixed amount of monthly rent for four years without managing their property. We will manage it on their behalf, we will pay them the monthly rent and they don’t need to worry about occupancy or the management issues like repairments or dealing with tenants.” When a client buys an apartment and decides to use it for rental business, Homart Properties offers a warranty for four years. Greenland Plaza offers a range of amenities including a high-end swimming pool, on-site shops, supermarkets, and a children’s playground, ensuring a comfortable and modern living experience for residents. The launch concluded with an awards ceremony recognising Homart Properties’ clients and investors. Six awards were offered, including a Rwf3 million discount for unit buyers and a grand prize of a brand-new Corolla Cross Hybrid, valued at Rwf40 million, won by Philbert Bimenyimana, a unit owner in one of Homart’s properties. The evening wrapped up with music by renowned DJ Ira and an open networking session.
