Construction Begins On Rwanda’s Inzovu Mall
The US$68 million project includes a serviced hotel and office tower.
Duval Great Lakes launched the construction of the US$68 million Inzovu Mall in Kigali, Rwanda during August, The New Times publication reports.
The subsidiary of France’s Groupe Duval expects to complete the 40,000-square-metre multi-purpose development in September 2025, the report said, citing Vicky Murabukirwa, the firm’s managing director.
The mall will occupy the former justice ministry plot in the Kimihurura district close to the Kigali Convention Centre.
The project also involves the construction of a serviced hotel and an office tower.
Source: IFC
In July, the IFC approved a US$17.5 million loan to Groupe Duval and Duval Great Lakes to support the project, and said it would mobilise additional financing of up to US$17.5 million from other lenders.
Groupe Duval and other equity investors will cover the remainder of the project cost.
According to the IFC disclosure documents, the plan for Inzovu Mall encompasses several zones including a business centre, a commercial zone and a public square, as well as underground parking.
Source: IFC
The business centre zone will feature three plazas with retail outlets in the fashion square, a marketplace and experience centres. French retailer Carrefour will be the anchor tenant in this area.
The commercial zone will comprise two towers with more than 10 storeys. One tower will have a floor area of 5,500 sq m and will house offices and serviced workspaces, while the other will have a floor area of 9,000 sq m and will house 140 serviced apartments, which will be operated by France’s Odalys, another anchor tenant.
The complex has been designed to be environmentally friendly and will incorporate a wastewater recycling system, eco-friendly lighting, natural ventilation and solar panels on the roof.
The mall has been designed to complement the nearby Kigali Convention Centre.
In 2022, the International Congress and Convention Association (ICCA) ranked Kigali second among African cities for hosting the most meetings, with 21 events held. Cape Town was first with 30 meetings, while Cairo placed third with 17.
Top photo: Inzovu Mall artist rendition (Source: Coldefy)
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