Construction of Kicukiro’s $5.5m estate starts

DN International, a real estate developer has started construction of a $5.5 million (Rwf 3.1 billion) housing project. The estate, on 8 hectares of land is branded, ‘Green Park Villa,’ and located in Masaka, Kicukiro district, 10 kilometres from the city centre. Nathan Loyd, the DN International Chief Executive Officer (CEO) said that the estate has 71 housing units each costing about Rwf73 million (US$128,819) on average. “This project is more spacious with more facilities such as servants’ quarters, contrary to the first project (Hill View Estate),” he said. According to the architectural plan, the estate will have among others, a communal swimming pool, a commercial centre, a recreation centre and a water treatment facility. Its construction is expected to end by December this year. “Within just days, after construction commenced, 20 clients have signed up for the units. Meaning that there are only 51 units left for grabs,” Loyd revealed. To acquire a house, a client will be requested to pay up at least 30 percent of the cost of the house while the balance can be paid under a mortgage arrangement across fifteen years through the housing bank. The ‘Green Park Villa’ estate is the second project by DN International after Hill View, which is located opposite the new site. The construction starts after completion of the first estate, with 28 units worth US$1.5 million (Rwf848 million). The minimum range units with three to four bedrooms each cost Rwf40.5million and Rwf46.5million respectively. These are managed by Amani holdings, a local brokerage firm. In the past, DN International has worked on the new America embassy in Kigali, refurbished Kobil petrol stations, built classrooms for the Kigali Institute of Education (KIE) and worked on some private homes in Kigali. Ends

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Construction of Kicukiro’s $5.5m estate starts