KCC to put up for sale more prime land

The City of Kigali has announced that it is in the process of selling some of the prime land in the city, including its current offices in the Central Business District. The property, which formerly housed the Ministry of Foreign Affairs, is one of the government owned premises set to be given to investors, as part of the Kigali City Master plan.

The City of Kigali has announced that it is in the process of selling some of the prime land in the city, including its current offices in the Central Business District.

The property, which formerly housed the Ministry of Foreign Affairs, is one of the government owned premises set to be given to investors, as part of the Kigali City Master plan.

“Some investors have expressed interest to take up the land, but we will have to go through the procedures,” Bruno Rangira, the Director of Communication and Media in the city, said in a telephone interview.

“We first need to advertise and go through tendering procedures before the land is given to the legible investor. But they [investors] have to submit their preliminary project proposals and financial statements to prove their capacity to redevelop the land according to the master plan,” Rangira added.

Kigali city is currently building its offices set to be completed next year.

Recently, investors acquired government owned land in central Kigali City which includes Muhima Technical School (ETO Muhima), former military court premises in Nyarugenge and former offices of the tourism board (ORTPN), all in the central business district.

The ETO land was acquired by Champion Investment Cooperation (CHIC), a group of business persons from Quartier Matheus, to construct a 12-story commercial facility at the tune of Rwf 25 billion.

The military court premises were acquired by GENIMMO Group, a subsidiary of SORAS Insurance Company, while the ORTPN land will be jointly developed by Kigali Real Estate Developers and Mukwano Industries, a Uganda-based investment group.

GENIMMO intends to construct an 8-storey apartment block  worth US15 million dollars (approximately Rwf8.9b) while Kigali Real Estate Developers wants to construct a tower valued at US12.6m dollars (approximately 7.5bn).

bosco.asiimwe@newtimes.co.rw

Subscribe to The New Times E-Paper


You want to chat directly with us? Send us a message on WhatsApp at +250 788 310 999    

 

Follow The New Times on Google News