BPR Bank Rwanda Plc and Fortis Green Housing have signed a memorandum of understanding (MoU) to facilitate mortgage financing for buyers of 92 housing units at Masaka Views Eco-Estate in Kigali.
The partnership, signed on Thursday, August 13, is aimed at making homeownership more accessible to middle- and higher-middle-income earners in Rwanda and abroad by linking buyers to both housing units and mortgage financing through BPR.
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The units covered by the MoU are priced between $76,850 and $160,830, depending on the type of house and the level of finishes selected by the buyer.
To apply for financing, buyers will be required to provide a provisional sale agreement, a valuation report for the property and verifiable proof of repayment capacity, such as a salary, rental income or other stable incomes.
The financing arrangement targets both local and diaspora clients seeking to purchase homes under the project.
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The development offers three finish packages – Essential, Standard and Luxe – allowing buyers to choose between different levels of fittings and finishes.
Under the agreement, buyers purchasing the eligible units can seek mortgage financing from BPR Bank. The bank may finance up to the full value of a property, subject to the customer’s affordability and ability to repay the loan.
Patience Mutesi, the Managing Director of BPR Bank Rwanda Plc, said the partnership will help provide financing options suited to customers at different stages of the homeownership process.
"We believe that access to appropriate and flexible financing is an important part of making homeownership a reality for more Rwandans. Our partnership with Fortis Green Housing enables us to provide financing solutions that respond to customers at different stages of the property development journey,” she said.
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The partnership is also intended to address challenges that prospective homeowners face in accessing housing finance.
Through the arrangement, eligible buyers can identify a home under the project and seek financing from BPR through a structured process, reducing the need to separately source a property and housing finance.
The bank said prospective homeowners will receive guidance through the financing process, from application and approval to construction milestones, completion and handover.
Mutesi said the partnership also combines access to financing with Fortis Green Housing’s focus on sustainable residential development.
"By combining flexible home financing with quality, sustainable housing developments, we are creating more opportunities for individuals and families to invest in homes that meet their aspirations,” she said.
Masaka Views Eco-Estate is Fortis Green Housing’s residential development in Masaka, Kigali. The project is designed as a planned community featuring energy-efficient homes and environmentally conscious construction.
The development is being delivered in phases, with the first phase expected to comprise 92 housing units. Forty-four units are currently available, including four four-bedroom homes, seven three-bedroom homes, 11 three-bedroom townhouses and 22 two-bedroom townhouses.
The remaining units in the first phase are expected to be completed by mid-2027, while units currently under construction are expected to be completed within the next few weeks, according to Fortis Green Housing.