Duval Great Lakes MD on what makes Rwanda’s real estate sector attractive to investors

The real estate sector in Rwanda is experiencing a significant upturn with the entry of French giant Duval Group into the market. Vicky Murabukirwa, Managing Director of Duval Great Lakes Ltd, highlighted the key factors that make Rwanda an attractive destination for real estate investors in a recent interview with CNBC Africa. One of the primary factors she mentioned was the favorable business environment in Rwanda, with the country ranking second in business on the continent, after Mauritius. Murabukirwa emphasized the strong government support for investment promotion, both for local and foreign investors, as well as the country's robust leadership. Despite the challenges posed by the global pandemic, Rwanda's government has been proactive in implementing strategies to combat the spread of COVID-19 and is preparing for the rollout of vaccines. This, coupled with Rwanda's rapidly growing GDP, creates an opportune moment for business development in the country. Duval Group's focus areas in the real estate sector include developing a mixed-use complex near the convention center in Rwanda. The complex will feature a hotel, luxury apartments, class A offices, a hypermarket, and a duty-free zone. The project aims to cater to a diverse range of needs, from business travelers attending events at the convention center to local residents looking for shopping and entertainment options. Despite the challenges posed by the pandemic, Murabukirwa highlighted the importance of proactive investment during times of crisis. She underscored that investments in real estate are long-term endeavors and urged business leaders to seize the opportunity to create jobs and stimulate economic growth. As Duval Group embarks on this ambitious project, the company is focusing on sustainability and local sourcing of materials. Murabukirwa noted that extensive studies and stakeholder collaborations are underway to ensure the project adheres to high-quality standards and aligns with green building principles. While specific financing details for the project were not disclosed, Murabukirwa emphasized that the investment will be significant and aims to set a benchmark for future developments in Rwanda's real estate market. With the construction phases still in the planning stages, Duval Group is committed to delivering a flagship project that not only contributes to the local economy but also showcases Rwanda as a prime investment destination for real estate developers.