NYARUGENGE - The government has slashed the prices of the prime land in lower Kiyovu, Nyarugenge District, Kigali city, by 43 percent.
A square metre of initially cost Rwf 104,000, but has now been reduced to Rwf 59,000 to attract more developers, Fred Rwihunda, the Director of Real Estate at the Rwanda Social Security Board (RSSB) said in an interview with The New Times.
“They (government) agreed to make a subsidy for us to make the cost price lower to facilitate those who want to buy the land. We can even go down up to Rwf 55, 000 per square metre,” Rwihunda noted in a telephone interview.
Rwihunda explained that about 30 percent of the prime land in the Central Business District (CDB) is already taken.
“We are convinced the remaining plots will be acquired very soon. We have had many requests from various developers, who include individuals and companies,” he noted, adding that most of those who acquired the land are Rwandans.
Rwihunda stated that the construction of infrastructure such as roads, electricity, drainage system, and installation of fibre optic cables would be completed by the end of the year.
RSSB acquired the 13 hectare prime land in 2008.
Over 120 families were expropriated in the area and resettled in Batsinda Village, Kinyinya Sector in Gasabo District to make way for the implementation of
the Kigali Master plan.