The NORD SUD BUILDING PROJECT

{{NORD SUD BUILDING PROJECT}}

{{I. BACKGROUND}}

In view of vision 2020 implementation, Kigali city council has developed a Master plan (Kigali Master Plan-KMP) which defines the city’s vision and appearance in the coming years.

Constructions of some commercial buildings had already been completed and a lot of others are ongoing in different parts of the city to fast track this process.

Also, the government and different authorities of the country had set up a regulatory framework and a conducive environment to facilitate investments in many sectors in general and Real Estate Sector in particular.

{{II. NORD SUD REAL ESTATE}}

NORD SUD REAL ESTATE is a limited liability company incorporated in Rwanda in November 2012. It deals with Real Estate, properties management and properties development.

The company has already acquired commercial and residential buildings in its portfolio and intends to erect a modern and multi-purposes building which will be located in a prime land next to the city hall and opposite BCR Headquarter: NORD

{{SUD BUILDING Project.}}

NORD SUD BUILDING will be designed to host a shopping mall, an office block and executive apartments. The preliminary project has been submitted to Kigali City council for approval.

After the approval of the preliminary project, we will finalize the project and submit for construction permit. We are planning to finalize the authorization process by August 2013 and construction works are set to start in July 2014.

{{III. FINANCIAL ARRANGMENTS}}

NORD SUD REAL ESTATE, the developer, intends to create a special investment vehicle whereby interested partners will have the possibility to acquire spaces in the new building. One will have the possibility to acquire from 40m² up to 600m².

The sale price per m² has not been detailed but Alain MANIRAGUHA (Board Chairman, NORD SUD REAL ESTATE) had informed us that the price will be competitive compared to other buildings in the city and in regard of the prime location of the building.

Selling spaces shall start after the main structure of the building is completed. A website will be set up and interested business owners will have the possibility to register online and apply for space purchase.