The Workers Affordable Property (WAP) ltd has begun constructing housing units for mostly low and middle income earners.
The purpose is to unveil the opportunities for Rwandans and foreigners to own affordable houses in Kigali, both in Gahanga and Rublizi.
According to the WAP Chief Executive Officer, Eng Kunu Harmony: ‘’There are factors responsible for Rwanda’s awesome performance and exploit.The goal is to achieve affordable housing for all categories of income earners.
Our desire is to invest in lives by creating housing opportunities and Eco-friendly environment. Accessing our in-depth human resources and strategy of project execution for the benefit of all categories of income segments of the society’’He said.
Eng Kunu further explained that, there is a good housing policy which defines expectations of affordable housing with government roles and what the developer’s roles are, adding that the authorities also set maximum cost and what the size of housing should be.
‘’There is also a mandatory requirement for government to provide certain facilities once the project is approved to have met affordable housing programme in Rwanda, that included all external and major internal roads for the estate, water supply pipeline,electricity lines with transformers and fiber optics among others’’ he noted.
To qualify for the housing units such a person must first obtain WAP application form,complete the required information either as an individual or joint application for married couples,then select the type of house unit and method of payment (either Bank construction loan for self-funding) that fit their purpose and capacity respectively.
Once WAP Application is received, the housing property developer sends a representative who will check on the candidates first choice of house and location and see if the company still has such housing unit available, if available one unit is allocated with a registration number and a construct is drafted based on the choice of method of payment selected. Where the first choice house is not available the 2nd. Or 3rd. Choice is then allocated to continue the process.
Currently, the offer takers can access Bank construction loans from BPR,BK, I&M Banks, however for non BPR applicants, they will be required to transfer the money to the Project account with BPR to get a commitment letter from BPR addressed to WAP to retain and own the house. Commitment letter from other Banks are not currently accepted until those Banks setup an agreement with WAP ltd or with BPR.
The advantage of buying a house from WAP is that, the house can be rented from you and you are paid an advance of 12 months. For those planning to buy the houses from the developers projects as an investment,they will also maintain a tenancy agreement with such prospective owners to manage the renting of the housing units on their behalf. 12 Months cumulative rent is paid to the investors at beginning of every year.Such housing units, must be formerly furnished to WAP ltd standard before accepting to manage the property.
Construction Workers at the Gahinga site.
The houses range from 16 million Rwfs to 49 Million in both Gahinga and Rubirizi. Access to Affordable housing has never been more real than it is now. They will include,3 bedroom semi detached,142.5 sqm for 3 beds, 3 bedroom townhouse villa,2 bedroom apartments,95 sqm for 2 beds and 3 bedroom apartments and 1 bedroom penthouse and 56 sqm for 1 bed.
In Gahanga for instance, 294 housing units while in Rubirizi over 1000 units. The projects will also include recreation facilities, swimming pool,football pitch,tennis and basketball courts and a clinics.