RDB’s intervention in Hillview Estate saga a welcome relief

Editor, RDB’s timely intervention in the scheduled auction of Hillview Estate Masaka put up by controversial real estate developer DN International and financed by Fina Bank Rwanda is indeed a welcome relief. Individual investors had spent their hard earned money to acquire their dream houses.
One of the houses constructed by controverisal developer DN International in Masaka Sector, Kicukiro District. The New Times/ File photo
One of the houses constructed by controverisal developer DN International in Masaka Sector, Kicukiro District. The New Times/ File photo

Editor,

RDB’s timely intervention in the scheduled auction of Hillview Estate Masaka put up by controversial real estate developer DN International and financed by Fina Bank Rwanda is indeed a welcome relief. Individual investors had spent their hard earned money to acquire their dream houses.

.While Fina Bank definitely needs to recoup its monies from DN International, it is my firm belief that RDB and the Ombudsman’s Office will together ensure that the bank is paid in full by DN International while, at the same time, all those who have bought houses in this project will not have to suffer the loss of their properties due to an auction. 

 The Credit Reference Bureau, set up by the Government of Rwanda, will further reduce and restrict defaults by borrowers and also ensure that banks and funding agencies have less to worry about regarding the credit worthiness of borrowers.
 
Clarence Fernandes
 
clavinmarketing@gmail.com   

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