KIGALI - A year since the government reduced the prices of plots in the Central Business District (CBD), the Social Security Fund for Rwanda (SSFR) has so far only managed to sell three of the nine plots that were put up for sale, the Fund’s Acting Director General, Africa Ramba has said
Talking to The New Times in an exclusive interview, Ramba said that the plots had been purchased by local investors though SSFR was combing for more buyers from both within Rwanda and abroad.
“We have so far managed to sell three plots and we are doing everything possible to expand the marketing of these plots in other countries through our embassies. We have been getting positive responses based on the traffic of potential buyers who have come to inspect the site and also hold talks with us,” he said
The price of plots in the proposed CBD was last year reduced by 20 percent per square meter, bringing it from about Rwf109, 000 to Rfw 87,000 per square meter.
When asked about how much money has been made from the sale so far, Ramba explained that there was so far no liquid money involved to date since SSFR was looking at long term projects.
“Our priority is to develop the area; meaning that as of now, we are looking at investors with whom we can have long term payment agreements to develop the Central Business District,” he said
He explained that SSFR was so far installing the necessary infrastructure that would make an investor’s work easier.
According to an abstract of the Kigali City Master Plan, about 2.7 hectares of the estimated 9.7 hectares of land is reserved for development of infrastructure services.
“We are concentrating on the infrastructure like constructing roads in the area, connecting fibre optics, installing a water treatment plant and electricty among others so that whoever comes to buy a plot is ready to start building there and then,” he said
The Rugenge sector, located in what used to be called lower Kiyovu, has nine plots ranging from 5,600 square metres (the smallest) to 13,866 square metres (the biggest).
SSFR is a public institution empowered with financial autonomy and is in-charge of administering the social security scheme.