Rwanda Enters the Multipurpose Housing Game

A project dubbed “Rugarama Park Estate” a joint venture between Shelter Africa, Development Bank of Rwanda in partnership with engineering and construction firm Remote Group, has recently been launched where the construction of over 2000 affordable housing for an average Rwandan’s income. Rugarama is a sustainable integrated community development, whose objective is to develop a high-density housing estate (2700 units+) that will, cater for lower and medium income populations of the society; provide a wealth of civic and community facilities –e.g.: schools, parks, religious sites, medical centres and commercial opportunities; Integrate sustainable eco-friendly initiatives. The Government of Rwanda has currently considered affordable housing as one of its priorities although there are a number of strategic incentives to attract local and international investors in the sector. The country targets to have 35 per cent of urbanization by 2024 from 18.4 per cent in 2017, the move that will need more dwelling units. Housing experts, however say that due to different challenges, the country has not even managed to satisfy 10 per cent of affordable housing needs. Shelter Afrique is the only pan-African finance institution that exclusively supports the development of the housing and real estate sector in Africa.  The company is owned by 44 African Governments, the African Development Bank (AfDB) and the Africa Reinsurance Company.SOURCE: CAPITAL FM

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