Real estate and infrastructure development company, Rohan Developers Pvt Ltd, a subsidiary of Mehta Group of Company, India has expressed interest in making substantial investment worth billions of francs in Rwanda’s real estate industry.

Mehta Group of companies is already established in neighbouring Uganda with plans to extend its business to other African nations, including Rwanda.

Speaking at the Indian investment community in Rwanda, director of Rohan Developers Pvt Ltd, Haresh Mehta, said his company is ready to invest in the East African nation, if government gives him assurance.

Mehta, who is part of the delegation of Indian investors visiting Rwanda under the platform India – Rwanda Show 2013 said, “Given the urgency and the business potential the industry offers, we are ready to commence on some of these projects within 45 days. There are still lots of business opportunities in the real estate industry that we are looking forward to exploit; we want to be part of a growing economy that guarantees profitability to the business community.”

According to a representative of the Rwanda Development Board (RDB) in India, Clarence Fernandes, the India – Rwanda Show 2013, which attracted several investors and businessmen from the US, Portugal, Dubai, Georgia, Tanzania, Mumbai , New Delhi, Jaipur and Hyderabad among others was co-organised jointly by Harresh N. Mehta , the Managing director and Haresh Mehta.

Mehta’s announcement comes days after the City of Kigali launched an online Construction Permit Management Information System that is set to make it faster, simpler and easier for developers to get construction permits.

Before the launch of the online construction permit, it takes up to thirty days to acquire a permit but with the new technology, applicant should get the application in less than 10 days.

Investors have praised the easiness of establishing business in the country where it takes six hours to register a business.

“We have done adequate research and realised that Rwanda holds great potential for growth and development of various businesses. Our companies will bring in a multi-million dollar investment, given the business friendly environment that exists, coupled with good governance and zero tolerance to corruption,” Mehta had said.

Business ties between India and Rwanda has improved in recent times as a number of Indian giant firms like telecom giants Airtel and Rajesh Exports, which acquired gold mining concessions, and plans to invest $550 million in mineral exploration, have already started operations in Rwanda.

However, Indian High Commissioner to Rwanda, His Excellency S.N. Ray, urged investors to focus more on energy especially solar and thermal energy given the existing domestic demand. “You need to give energy a priority given the fact that the country’s energy production is not yet up to the domestic demand.”

Posted on : 30 Nov,-0001