The company’s founder and Chief Executive Officer, Jackeline Wibabara, said the first project, located in Gahanga Sector, Kicukiro District, was successfully completed, with all 90 homes sold and occupied.
GIRINZU is a five-year-old real estate company involved in construction and helping people living in Rwanda and abroad access quality housing.
Wibabara said the successful completion and sale of all homes in Umutuzo had encouraged the company to begin a second project, known as Aheza.
“At GIRINZU, as usual, we first conducted an in-depth feasibility study for the Gahanga 2 project, just as we did for the first project. In that study, we pay particular attention to how water flows through the land and the terrain before beginning construction. In Gahanga 2, which we call Aheza, we have already built 33 houses. So far, 85% of the homes have been sold, and the project is planned to have 114 houses,” she said.
She explained that the homes attract buyers even before construction is completed because early buyers can benefit from lower prices.
“The earlier people buy, the greater the opportunity to buy at lower prices. You can see how the international market is performing; transportation has been affected by the war in Iran, causing prices to rise. Although we use many locally produced construction materials, some materials are sourced from abroad,” Wibabara said.
She added that property investment can generate significant returns over time.
“Someone recently sold their house and made a 40% profit. No bank would give you an interest return of that level. Therefore, someone who buys a house early is effectively saving for themselves. For example, in this new Aheza Village that we are building in Gatovu, a 400-square-metre plot used to cost Rwf 15 million, but it now costs at least Rwf 42 million, with some going for Rwf 45 million, without anything else built on them,” she said.
Wibabara said Aheza Village would, like the first Gahanga development, provide adequate parking for residents and their visitors, electric vehicle charging facilities and recreational spaces for children, including different playgrounds.
Aheza will comprise homes with between two and four bedrooms. All houses will have kitchens, indoor toilets and bathrooms, as well as outdoor gardens. Prices start at Rwf 86.8 million.
“When we build estates, we divide them into phases so that a completed phase is not disrupted by other phases that are still under construction. We want people to get their homes as early as possible. In Aheza too, the first phase has been completed and someone has already moved in,” Wibabara said.
Buyers from Rwanda and abroad
Alice Durand Gahunga, who lives in France, is among the people who bought a home early in Umutuzo Village. She said she chose GIRINZU because she wanted to have a home in Rwanda.
“My husband and I wanted to have a place we could call home in this country. But when you live far away, in Europe, building a house is not easy. After learning about the GIRINZU project, we took time to gather enough information and conduct thorough due diligence before buying. We are now living there,” she said.
Gahunga said she was happy to once again live in a community where she could interact with neighbours, hear children playing and enjoy a safe environment, particularly in Rwanda, her home country.
She added that she was also pleased to invest her money in a secure country. According to her, many Rwandans who have lived abroad for years want to own homes in Rwanda, either to live in when they return home or to rent out and generate income.
Mukunzi Rupia Jean, another resident of Umutuzo Village, shared his experience with IGIHE.
He said he had lived in different places and countries but had never found a community quite like Umutuzo because of the many advantages it offers.
“I am getting older, and I wanted a place where I could have neighbours, and I found them here. GIRINZU has brought us together; many of us participate in different activities that we organise. We also share many common values, even though we come from different parts of the world,” he said.
“The challenge we currently have is the road coming from the upper side, but the main tarmac road will also reach here before long.”
Different housing options
Umutuzo Village occupies two hectares and consists of three categories of homes designed to give buyers options based on their needs and financial capacity.
The first category comprises two-bedroom homes with a living room, one modern bathroom, a kitchen and a landscaped garden.
The second category consists of two-storey homes, each with three bedrooms, a living room, a bathroom and a landscaped garden.
The third category comprises four-bedroom homes with a living room, two bathrooms, a modern kitchen and a spacious garden.
At Aheza Estate, most homes in the first phase have already been sold, while registration for buyers interested in the second phase has started. Buyers are required to make an initial payment of 10% of the home’s value.
The project offers different housing options, ranging from two-bedroom homes starting at $59,800 to four- or five-bedroom villas priced at $175,000.
Aheza Estate has been designed as a modern and environmentally conscious residential community. It will include a swimming pool, basketball court, outdoor gym, children’s playground, shops, pedestrian and cycling paths, a car wash and electric vehicle charging facilities.
The estate will also have 24-hour security and two access gates.
GIRINZU offers flexible payment arrangements while homes are under construction. Construction of an individual house takes between seven and eight months.
The company also has partnerships with Rwandan banks, including Bank of Kigali and I&M Bank, to help buyers access housing loans at preferential interest rates.
To make it easier for buyers, particularly Rwandans living abroad, GIRINZU offers virtual home viewing and allows contracts to be signed electronically. Plots and houses are allocated based on the order in which buyers make their requests.
The company also offers discounts to buyers who pay at least 75% of the home’s value upfront when signing the purchase agreement, as well as buyers who purchase an entire building comprising two homes.
For more information, visit www.girinzu.rw.
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