A multi-billion-dollar shopping center named Inzovu Mall under construction is expected to be completed in September 2025.
Once complete and operational, the shopping mall being constructed by French firm Groupe Duval through Duval Great Lakes is expected to complement the tourism experience for guests in the country. Duval Great Lakes Ltd is owned by Groupe Duval in partnership with a local businessman Vicky Murabukirwa, the Managing Director of Duval Great Lakes.
In an exclusive interview with The New Times, Murabukirwa, on Monday, September 18, said that construction already commenced and is scheduled to end in September 2025. The project is on track to begin operations in December of that same year, he said.
"On July 13, following the signing of a finance contract with IFC and PROPARCO, we initiated the site in August to complete it by September 2025. The total built-up area will encompass approximately 40,000 square meters, accompanied by parking facilities for around 500 cars," he explained.
The City of Kigali's largest shopping center will occupy the premises of the former justice ministry adjacent to the Kigali Convention Centre.
According to Murabukirwa, the project will cost around $68 million, approximately Rwf81 million. Commenting on what will be featured in the mall, he emphasized its multifaceted offerings designed to complement the Kigali Convention Center.
Bringing in international brands
He said that the project will include a four-star hotel with 95 rooms, a contemporary office block, an extensive retail section, spacious hypermarkets, a diverse range of food and beverage outlets, elegant restaurants, fully-equipped conference rooms, reputable banks, and leisure facilities.
"In addition to these, there is a plan for a duty-free mall. While specific details are still coming, the concept involves bringing in international brands, and we are currently collaborating with the Rwanda Development Board to establish the duty-free mechanism," he added.
Murabukirwa said the project aligns with the Rwanda Climate and Development Report 2022 (CCDR) by the World Bank Group, as well as the country's vision to embrace green practices through the utilization of energy-efficient materials and technologies aimed at mitigating greenhouse gas emissions.
In addition, commenting on what people should expect from the project beyond its tourism aspects, he emphasized that it would have several positive impacts.
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These include "contributing to the beautification of the area, generating employment opportunities, fostering the growth of new businesses, and playing a vital role in the country's development through tax contributions, among other benefits."
"The idea was to bring what the country doesn't have and this will help various people who pass through the country, from neighborhood countries, foreigners as well as the Rwandans."
The project is one of the beneficiaries of the 'Manufacture and Build to Recover Programme' which is extending tax breaks and tax credits to businesses to reduce the cost of investment for new manufacturers as well as those seeking to expand existing operations.
Introduced in 2020 the programme is aimed at boosting economic recovery efforts by attracting private sector investments with specific incentives for the manufacturing, agriculture, construction, and real estate development sectors.
