Constructions industry in Rwanda is on an upward trajectory after the country’s president Paul Kagame opened complexes worth $50m in the capital Kigali. The president challenged contractors to ensure they provide durable and quality structures.
Kagame congratulated local investors like Bertin Makuza whose 15-storey constructed building was inaugurated. In his speech, Makuza said that construction of his building cost $42 million out of which $22m was from his personal investment while $20 million was obtained as a loan from International Finance Corporation (IFC) and GT-Bank.
Makuza continued that he built the building out of self-belief he had in Rwanda’s peace and security and that’s why he named it M. Peace Plaza. He expressed confidence that the construction industry in Rwanda is set for greatness.
Kagame reiterated the need for unity in Rwanda adding that the current development record in Rwanda shows that there is power in self belief.
Kagame also inaugurated the new Kigali City Hall that was constructed at a tune of $14 million.
Fidel Ndayisaba the City mayor, told the Press that the newly constructed city hall will assist the capital to save Rwf12 million spent on rental fee every month. Additionally, Makuza’s 10,000 square meter complex will provide space for offices , apartments and a spacious parking.
In the recent years, construction industry in Rwanda has attracted investors from all over the world who are keen to put their money in the real estate sector in the wake of a bursting population in the country.