Five companies, three foreign and two local, have contacted Kigali City Council (KCC) with interest to invest in the mega Kigali City Park (KCP).
Government re-advertised the proposed amusement and hospitality park, last year, for interested investors to take it over after Dubai World withdrew from the project in an attempt to trim spending following the 2008 global financial crisis.
One of the investors is Hilton Hotels and Resorts, an international chain of hotels and resorts, which agreed with KCC, last year, to develop a portion of the park.
Hilton Hotels is understood to have purchased 4 hectares at an estimated US$ 2 million and plans to construct hotel apartments and recreational facilities in the near future.
Bruno Rangira, KCC’s Director of Media and Communications, told Business Times, Monday, that the interested investors are still locked in negotiations with KCC and a timeline is not set for when the negotiations will conclude.
“The negotiations depend on a number of issues which include agreeing on the terms of payments, the priority areas to develop among other issues,” Rangira said.
The 26 hectare park is located in a prime area between Nyarutarama and Kacyiru in Gasabo district.