Synergy enters African market
Blackstone backed Synergy Property Development Services, the project management consulting & turnkey solution company, announced that they have bagged design and project management contract to manage $153 million township development from Rwanda Social Security Board (RSSB). The selection was done through an international tendering process for three townships development in Kigali, the capital and the largest city of Rwanda, also known as the commercial hub of Rwanda with population of 1 million.
Vision City: A township development spread across 157 acres comprising of semi detached units, luxurious homes, apartments, educational facilities, and town centre (shopping mall, administrative block, public transport terminus, multipurpose hall) and recreation facilities and green space (play grounds). Phase 1 of approximately 1.10 million sqft will be developed during the tenure of the project.
Kinyinya: A township development spread across 250 acres comprising of Phase 1 development of 500 apartments and allied infrastructure facilities;
Batsinda: A township development where 200 apartments and allied infrastructure facilities will come up in Phase 1
Under the contract, Synergy will manage the entire development of all the three the projects including design management and co-ordination, engineering, procurement management, construction management and will be responsible for time, cost, quality and environmental health and safety standards.
Work for all the three projects will commence in July first week, with completion of phase 1 targeted within 20 months. Synergy currently has an order book of over to Rs3000 crore for various projects in India and abroad.
Sankey Prasad, chairman and managing director– Synergy Property Development Services said, “We are extremely happy to have our foot print in Africa. This Rwanda project win further demonstrate our leadership position in the real estate space and will pave and usher a new growth path for Synergy in the region. Africa is land of opportunities for housing and office space development work.”
“The scope of work for these townships is massive and challenging and we are delighted to get an opportunity to demonstrate our capabilities. It provides the foundation for us to become a dominant global force in executing top class township projects anywhere in the world,” added Sankey.
Angélique Kantengwa, director general at Rwanda Social Security Board said, “We are extremely delighted to place our belief in Synergy to meet our massive housing challenge because of their global expertise in handling large projects, absolute dedication, commitment, technology superiority, competitive pricing with the assurance of timely delivery, backed by a world class team of highly skilled professionals.”
“Rwanda has an annual housing demand of 25,000 units in urban centres, of which only about 10,000 units are supplied, thus falling short by 15,000 units. Realising the urgency of the situation, we have put our thrust on Synergy to help us in the development of townships at Vision City, Kinyinya and Batsinda, which are very prestigious for our Government,” added Kantengwa