The Kigali city sky-line will soon take new shape with the construction of three commercial complexes valued at over Rwf 41.3 billion.
The City Mayor, Fidele Ndayisaba, made the announcement yesterday at the City Hall after signing agreements with the proprietors of the projects.
The projects to be completed in three years include a Rwf 25bn 12-storey commercial facility to be put up at the former Muhima Technical School (ETO Muhima).
The Muhima project belongs to Champion Investment Cooperation (CHIC), a consortium of 65 traders from Quartier Matheus, a major Kigali trading centre.
The group acquired the 3.24 hectare property for Rwf 1.5 billion.
The school was relocated to Kicukiro College of Technology (KCT) in Kicukiro District.
Other projects are an eight-storied Apartment hotel worth US$15m (approx Rwf 8.9b), to be built at the former military court premises in Nyarugenge District and Kigali Tower valued at US$12.6m (approx Rwf 7.5b) to be constructed at the former office of tourism (ORTPN) headquarters, also in Nyarugenge District.
The apartment Hotel will be built by GENIMMO Group, a subsidiary of SORAS insurance company, while Kigali Tower, owned by Kigali Real Estate Developers, will construct a 12-storied facility.
The two plots were purchased at Rwf 269.3 million.
Tharcisse Ngabonziza, the head of CHIC, said that each member will contribute about Rwf 70 million for the building, which will also include shopping malls, hotels and a hospital.
Robert Bapfakureka, the Chairman of Kigali Real Estate Developers, said that the project will be jointly developed with Mukwano Industries, the Uganda based investment group.
“Those still occupying the (former) ORTPN premises, which include the Media Centre, were given a month’s notice to relocate,” Ndayisaba said.