On this Tuesday, 20th October 2020, Shelter Afrique's board of directors approved joint venture in the development of Kinyinya Park Estate housing project in Rwanda to be developed in 8 km from Kigali International Airport, it covers 10,000 large-scale integrated and sustainable housing units.
This project, planned in partnership with several financial institutions including the Rwanda Social Security Board (RSSB), will cost approximately USD 400 million. For now, the East and Southern Africa Trade and Development Bank (TDB) has committed to providing a facility worth USD 150 million to Shelter Afrique in the first 2 phases of the project.
Shelter Afrique's Chairman of the Board, Dr Steve Mainda, said the company is committed to achieving its 2019-2023 strategic goals. An initiative which, he emphasizes, aims to achieve both a development impact on all major housing projects in order to create shareholder value.
For his part, Andrew Chimphondah, Managing Director of Shelter Afrique, argued that Africa's huge housing deficit can only be addressed by undertaking large-scale housing development projects. “This is why our strategy places particular emphasis on public-private partnerships (PPP) which we believe are essential in providing affordable housing. We are also exploring similar projects in Kenya, Tanzania, Uganda, Zimbabwe, Côte d'Ivoire and Nigeria,” he added.
Yesterday, @ShelterAfrique Board of Directors approved the dev'pt of the Kinyinya Park Estate Project that covers 10,000 large-scale integrated & sustainable housing units. This joint venture project will cost around US$400million.
— Ministry of Infrastructure | Rwanda (@RwandaInfra) October 21, 2020
https://t.co/yiEVOcqKFw@RSSB_Rwanda @BRDbank pic.twitter.com/QgsOtsOG6V
Kinyinya Park Estate project is Shelter Afrique's second large-scale housing development project in Rwanda after the 3,000 affordable housing project at Rugarama Park Estate in Kigali in June 2019. It will eventually be a community of 10,000 units developed by Shelter Afrique in 5 phases over 3 to 4 years. It will also include 10,000 affordable apartments and 200 retail units including schools, shops and commercial facilities on behalf of Rwanda Social Security Board.
Read the original on Kapital Afrik
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