- Real estate sector is a key sector and a potential driver of future economic growth.
- The sector contributes more than 7% to the national GDP; in 2013/2014, the sector grew by 9.4%, because of sustained expansion in private constructions and public works.
- Investment in the sector has grown from Us$ 100 million to Us$ 480million in the last 13 year, driven by population growth, an emerging and growing mid- dle class, increased Diaspora investment in Rwandan property markets and the government investment in infrastructure expansion and modernization of urban and rural infrastructure
- The demand for real estate, especially affordable housing, is on the rise. This is due to the increased population growth and an emerging and growing middle class. In Kigali alone, the demand for affordable housing is estimated at 186,163 Dwelling units (an average of 16,923 Units per year) by 2013-2020.
- Among the notable opportunities in the real estate and construction sector is the implementation of the Kigali City Master plan that entails a broad vision and guidelines for the entire city serving as the basis for more specific planning at the District and the Central business District. It presents the most advanced sus- tainability in land use, infrastructure, environment, society and economy.
- Rwanda has also earmarked six secondary cities ((Ru- sizi, Rubavu, Musanze, Huye, Muhanga, Nyagatare) to foster their growth and economic development. The secondary cities present enormous opportunities especially; in real estate and infrastructure develop- ment, manufacturing and agro processing.
- There is a high demand for affordable houses. Over 186,000 units are required to address the housing needs of the middle class.in the next
- seven years (2016-2022)
CONSTRUCTION OF A MINISTERIAL OFFICE COMPLEX:
- The Ministerial complex is a Government of Rwanda project planned to accommodate a number of Ministries to address issue of office space for Government Ministries.
- The Technical descriptions of the project is to have a gross floor areas of 25,000 sqm, three basement floors for parking.
- A site equivalent to 1.26 Ha has been identified for this project
Other opportunities in the sector are in;
- Development of warehousing facilities.
- Construction of commercial complexes, office buildings and shopping malls.
- Production of construction materials.
For any further details/information you may require, please contact:
Mr. Adelin KAJANGWE
Industrial Development Analyst
Head-Investment Promotion Department