Kigali, 18th August, 2016- The Vision City­ project phase I of 504 units is meant to progressively be commissioned starting early November 2016, with the focus of addressing the issue of housing deficit in Rwanda and ensure sustainable growth.

Vision City project is the biggest housing project in Rwanda to­ date. It is a high-end residential and commercial development. It is the flagship project from the country’s largest real estate developer Ultimate Developers Ltd. It will have­ more than 504 units, ranging from luxu­ry villas and apartments.­ It will be built in four phases over a ­period of eight years, with phase one sl­ated for completion early November 2016. ­In addition to residential housing, the ­development also has a town center, whic­h will serve as the commercial hub of th­e estate. The residential and town center facilities will both have Wi-Fi internet connection. The facilities include commer­cial facilities, restaurants, office complex, a luxury­ three-star hotel and convention center.

The project is being undertaken by CCECC Limited, a Chinese company, with Synergy as the project designer and supervisor.

A study conducted in 2012 by the City of Kigali in collaboration with the Ministry of Infrastructure and the European Union (EU) estimated that the city could have a housing deficit of up to 350,000 residential units in 10 years if nothing is done to address the current shortage.

The housing shortage is mainly fuelled by the growing rate of rural-urban migration, currently at about 4.8 per cent, creating need for more houses. As the government targets to achieve at least 35 per cent rate of urbanization by 2020, it is critical to invest in infrastructure and facilities that will support this growth.

The demand for habitable homes in the city and other areas in the provinces is also driven by the high rate of urbanization. According to Hon. James MUSONI, the Infrastructure Minister, the rate at which the city is urbanising requires timely intervention and more investments in the housing facilities to be able to match the demand. He said this during his visit to the project to assess the progress.

According to the City Master plan, at least 43,436 social houses and 186,163 affordable houses are required annually by 2022, reflecting 54 per cent housing demand. 

The Minister reaffirms projects like Vision City 2020, that is currently underway, will go a long way in solving the housing challenges in Kigali. The project is being financed by the Rwanda Social Security Board (RSSB) with the capacity to accommodate over 22,000 people.

The project will make the local real estate market more competitive besides easing demand for residential and commercial office space. “This will in the long-term transfer into more quality products and, ultimately, drive prices downwards,” Lilian Mupende, the Chief Executive Officer of Ultimate Developers Limited urgues.

The first phase of Vision City is targeting high-income earners, she says plans are underway to use the same concept and bring to the market affordable facilities for middle and low-income market segments.

The prices range from $179,000 (about Rwf 143.2 million) to about $560,000 (about Rwf 448 million), depending on the size of the unit. The prices are high because the country relies on imported building materials. The money can be paid in installments, but one has to deposit 30 per cent of the total cost.