Maiden real estate expo due this month

The Real Estate Association of Rwanda (REAR) has announced plans to host the first ever National Property Expo that brings together local and foreign players in the property development sector. The trade fair is slated from May 31 to June 1 at Hotel Umubano, after which the Rwanda chapter of the Developers’ Club will also be unveiled.The developers’ club is a forum that will bring together all stakeholders in property development, and according to the organisers of the expo, this club has been successful in Kenya. The expo is sponsored by Rwanda Housing Authority and the Rwanda Development Board.The president of REAR, Charles Haba, said real estate developers will make the most of the exhibition to launch new products and services, offer discounts on the sale of their homes and plots, as well as communicate new and existing policies and laws.“In the recent past, Rwanda has emerged as a major hub for real estate business and attracted international property developers mainly due to the country’s ever growing demand for housing that now stands at 250,000 housing units per year and continuous economic growth,” said Haba, who is also the Managing Director of Century Real Estate.“It will be an excellent opportunity to mingle with all the real estate practitioners to enrich the expo visitors with the know-how in the property industry. It will be an excellent platform for the different players in the property industry to synergise and offer an all round solution to their clients.”The expo has also attracted international property developers from Kenya, South Africa, Hong Kong, Nigeria and Uganda, who have already confirmed their attendance.Commercial banks including Bank of Kigali, Rwanda Development Bank and Kenya Commercial Bank will also showcase their mortgage facilities to widen their reach to individuals keen on buying homes.RDB will showcase its latest residential and commercial developments while Rwanda Social Security Board would advertise parcels of land under its Vision City Estate programme.Participants will range from developers to real estate agents and property managers, institutional managers to funding managers, mortgage lenders to property consultants. REAR is currently made of 42 members.