Africa-Press – Rwanda. A new developer has taken over Masaka Housing Project, which is expected to deliver hundreds of homes, The New Times has learnt.
Located near the budding Kigali Medical City in the Masaka area in Kicukiro District, the project is expected to deliver more than 300 housing units, according to Jonathan Shafer, Managing Director of Fortis Green Housing, the new developer.
The subsidiary of Fortis Green Holdings replaced Remote Group, the initial developer. The Masaka Housing Project will be implemented in phases, with 88 rental apartments expected in the first phase, 87 more in the second phase and 127 at the end of the third phase.
Financed through private equity and debt financing from Development Bank of Rwanda (BRD), the project is set to be completed by 2027.
The project is among 10 major housing projects previously listed by the Rwanda Housing Authority (RHA) to deliver homes to various income segments in Kigali.
The housing authority told The New Times that discussions with project owners are ongoing to provide updates as progress is made.
Masaka Housing Project is located just minutes from the Kigali Medical City, a major government-backed healthcare and research precinct which is expected to transform the area into a high-demand urban node.
“This proximity makes Masaka views particularly attractive for medical professionals, returning diaspora, and institutional investors,” Shafer told The New Times.
“We are currently busy with groundworks and infrastructure. Phase 1 is scheduled for completion in about 10 months.”
The development is being delivered in phases, with Phase One offering a carefully balanced mix of rental and for-sale properties to serve a wide market, he added.
For-sale homes include 25 units with three-bedroom semi-detached family homes, 26 homes with four-bedroom semi-detached family homes, 22 homes with two-bedroom townhouses (with the option to convert to three-bedroom), and 11 homes with three-bedroom townhouses.
The rental plans include one-bedroom, two-bedroom, and three-bedroom apartments.
“The eco-estate development is designed with sustainability, practicality, and community well-being at its core,” he said.
“The project introduces a new standard of living for Rwanda’s growing middle and upper-middle class, members of the diaspora, and international buyers seeking meaningful investment opportunities,” he explained.
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