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Bank-backed mortgages help buyers access Kigali housing project

A $25 million housing development in Kigali's Masaka neighbourhood has reached 85% completion, with a bank offering financing to help prospective buyers purchase homes.

Masaka Views Eco Estate, being built by US-founded Fortis Green Housing in Kigali's Kicukiro District, will eventually comprise 382 housing units including apartments, semi-detached houses and townhouses. The first phase includes 180 units, with 88 intended for rental and 92 for sale. According to the developer, the first phase is 85% complete, with remaining work focused on landscaping, cleaning and road construction. Essential water and electricity infrastructure has already been installed.

NCBA Bank Rwanda has partnered with the developer to offer home financing through its Tura Neza 105% mortgage product, designed to help buyers finance purchases. According to the bank's Assistant Manager for Marketing, Communications and Citizenship, the product includes insurance cover and other benefits. Prospective customers would need to confirm eligibility requirements, interest rates, repayment terms and other conditions with the bank. Homes available for purchase are priced between Rwf102 million and Rwf212 million for two-bedroom and four-bedroom houses.

The entire development is expected to cost more than Rwf36 billion. The project supports Kigali's efforts to improve housing and urban living conditions as the city continues to grow. During the 2025/2026 fiscal year, the City of Kigali planned to spend more than Rwf251 billion on various initiatives including urban development and improving living conditions in informal settlements.