FEATURED: Imara Properties completes first house at Isange estate

Previous experience with a number of commercial housing projects has probably led a section of Rwandans wary about their approach to investing in related projects. This has led many to wonder what it takes to deliver a housing project. Previous commercial housing and real estate projects have often been characterized by delays in completion, going above budget while some end up undelivered leading to years of court battles. With the middle-class gradually expanding and homeownership in the sights of a growing number of Rwandans, there has been room for reliable firms in the real estate development sector. Inside the villa of Isange Estate in Rebero in Kigali. Photo by Dan Nsengiyumva Imara Properties, which is currently developing Isange Estate in Rebero in Kigali is well on its way to delivering its inaugural residential project in Kigali having launched in July 2021 and completed the first house. The project features 15 villas of three bedrooms and four bedrooms maximizing green areas located on Rebero hill. The project also features its own plant nursery for the gardens and common spaces. With a 12 months construction time, the project’s pace and staying on course at a time when the prices of commodities and raw materials have been fluctuating and unpredictable supplies was attribute to project management and planning. This they noted reduces challenges that are often encountered in real estate projects such as supplies which could see delayed completion. One of the 15 villas that are about to be completed at Rebero Hill. Photo by DAN Nsengiyumva David Benazeraf, the Managing Director of Imara Properties told The New Times that the pace has also been maintained due to working with professional suppliers and contractors which reduces any unforeseen challenges. Such projects he said also take advantage of economies of scale in the sourcing of supplies which keeps costs lower compared to when one is developing a stand-alone project. This ensures that the project costs can be maintained even amid economic price turbulence. Benazeraf said that such residential real estate projects also require transparency with clients updating on their project progress and having them make site visits. This avoids any concerns about the fate of their investments. The project is also attempting to respond to Kigali’s population projected to more than double from the current 1.6 million to 3.8 million by 2050, demand for affordable houses is rising faster than its supply with various studies showing that the city needs at least 20,700 housing units every year or 310,000 units by 2032. Imara Properties is also attempting to implement realities of the changing urbanization scene from stand-alone houses which are quite common in Rwanda to smaller but convenient accommodation. With the rising costs of land and construction will make it inevitable, real estate experts say that Kigali residents ought to get used to small apartment blocks to meet density requirements in some areas. The project features 15 villas of three bedrooms and four bedrooms maximizing green areas located on Rebero hill in Kicukiro District. Photo by Dan Nsengiyumva With the project due for full completion in July, Benezeraf said that they are set to commence construction of the second phase as soon as possible after receiving the construction permit from the City of Kigali. The project, which is fully sold out, features 15 villas of three bedrooms and four bedrooms maximizing green areas located on Rebero hill. The project also features its own plant nursery for the gardens and common spaces. The project, like most private sector engagements, has also had a social-economic impact such as providing both 200 skilled and unskilled jobs creating a demand for locally produced materials consequently driving economic growth.

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FEATURED: Imara Properties completes first house at Isange estate