Kenyan firm invests US$ 50m in Rwanda real estate project
Financial services group UAP Holdings is set to invest US$ 50m in a real estate project in Kigali, Rwanda, as it seeks to grow earnings from the booming regional property sector.
UAP’s chief executive Dominic Kiarie said that they aim at building residential and commercial properties on the acquired prime piece of land.
This is the latest real estate venture by UAP, which has stepped up its property portfolio to earn higher returns and diversify away from quoted equities and fixed income investments.
They are set to complete the 31-storey UAP Towers in Nairobi’s Upper Hill in August 2015. UAP will relocate its headquarters to the new building.