Collective regional effort to rally housing investments is crucial

The planned meeting by EAC ministers in charge of housing to discuss how investment, especially from international corporations, in the housing sector can be increased should not have come at a better time for Rwanda, where the industry is among the fastest growing.The meeting slated for Nairobi next month is expected to, among other things, explore how home ownership can be scaled up through adopting new construction technologies.In the Rwandan context, this important meeting will be held at a time when significant steps especially in terms of policy, have been put in place to facilitate the growth of this critical sector.With the promulgation of the condominium law, for instance, home ownership in Rwanda will be made easier, while other facilities like the master plans of Kigali and other metropolis will act as guiding tools to bolster this industry and should be shared with other EAC member states for collective growth.Also worth sharing is Rwanda’s unique policy of creating a one-stop-centre, for example the one at the City of Kigali that helps investors in the housing sector to acquire, with ease, all the required paperwork, so that they kick-start their construction projects within the shortest time possible.The other countries will also inevitably have a lot to share at the forum to enable the five EAC member states to collectively realize a boom in this sector.Important to note is that the forum should not only focus on international investors. Local investors too, need also to be put in the picture.

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Collective regional effort to rally housing investments is crucial