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Project Finance Loan for Shopping Mall Rwanda

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Business News shows Market Shopping Center Limited (“MSC” or the “Company”) is a newly created Rwandese real estate company undertaking the development of a $37 million greenfield mixed-use commercial property (the “Complex”) in the Central Business District (CBD) of Kigali, Rwanda (the “Project”).

The Complex with a gross leasable area (GLA) of 29,383 m2 would be the first purpose mixed-used commercial complex with first class facilities to offer a combination of retail, accommodation, food, entertainment and office space in Kigali. Hindmarsh arranged for an IFC project financing package of up to $13 million to support the development of the Project.

The total project finance cost is estimated at $37 million of which IFC is proposing to provide up to $13 million consisting of an up to $10 million A loan and up to $3 million of equity.

The project is located in the Nyarugenge Hill, a prime area of Kigali’s CBD, on a site that used to house a state-owned post office building.

Mall Kigali