Nairobi, Kenya, 9th October 2012 – Shelter Afrique and Ujenge Rwanda Ltd have signed a USD 6,500,000 loan agreement. The funds are earmarked to co-finance the development of Palm Estate in Kigali, Rwanda.
The signing ceremony took place on 9th October 2012 at Shelter-Afrique Centre, Nairobi. Shelter Afrique was represented by its Managing Director, Mr. Alassane Bâ and Ujenge Rwanda Ltd was represented by its Managing Director Mr. Patrick Sebatigita.
The Palm Estate Project, estimated to cost USD 12.6 million will be co-financed by Ecobank Rwanda. The development entails the construction of three blocks of apartments comprising of 168 units for outright sale as well as commercial and entertainment facilities for rental.
Ujenge Limited was established in Kigali, Rwanda, on May 2008. The company is involved in Management, Architectural and Technical design and construction operations. As part of its growth strategy, Ujenge is now engaged in Property Development, and the current Palm Estate Project is among the company’s initiatives in this respect.