Moroccan company is going to build 5,000 homes in Rwanda

The Moroccan investment company Palmeraie Development Group has pledged to build 5,000 social housing in Kigali, capital of Rwanda.

Hicham Berrada Sunni, CEO of the group, is part of the entourage staying with King Mohammed VI by three East African countries: Rwanda, Tanzania and Ethiopia. Palmeraie has past Wednesday signed an agreement with the Rwanda Development Bank (BRD) and the Bank of Africa in the presence of the Moroccan King to the intention of to confirm the project, reports Moroccoworldnews.

"This construction project is part ofPalmeraie Development Group's development vision in Africa with its expertise in the field of social housing and want an example partnership between the two countries, "said Sunni to reporters.

All 5,000 homes will cheap living solutions for Rwandans in an area of Kigali called Ndera. The need for cheap housing is great, said the Mayor.

The Bank of Africa and the FRG will help the financing of the first phase of construction, which will cost 700 million dirham and 2000 homes. Palmeraie has also said that the new buildings new facilities will offer, such as shopping malls, parking lots and playgrounds.

On its official website, says Palmeraie that it focuses on the developing the quality of the living environment in all of Africa. So far, the projects in the first place been in Morocco, but also in home country Ivory Coast and Gabon.

The current tour of King Mohammed VI is to approximate the to strengthen economic ties with East African countries for the vote of the African Union to Morocco to reinstall.

The Kingdom left the African Union in 1984, when the self-proclaimed Sahrawi Arab Democratic Republic (SADR), joined the Union as a full member.

mohammed vi
african union
social housing