The Rwanda Development Board (RDB) has addressed concerns over the status of the Kigali Heights building, a prominent structure in Kigali. Recent reports suggesting that Kigali Heights Development Company Ltd, the former owner, had been placed in liquidation sparked uncertainty. In a statement, RDB explained that the company had indeed been liquidated but emphasized that this decision did not affect the building's operations. The building, now owned by YYUSSA Company Ltd, which acquired it in 2024, continues to function normally.
According to RDB, the confusion arose from the fact that despite the change in ownership, the building retained its original name, "Kigali Heights." In June 2026, shareholders holding over three-quarters of Kigali Heights Development Company Ltd decided to voluntarily dissolve the company and appoint a liquidator. RDB clarified that the liquidation process pertains only to the company, not the building itself, which is now a private asset of YYUSSA Company Ltd.
The RDB statement aimed to dispel rumors that the building was facing closure or sale. The building remains open for business, with tenants and occupants continuing their activities without interruption. The authority assured the public that there are no plans to close or sell the building, either through public auction or liquidation.
RDB also addressed concerns about the financial health of Kigali Heights Development Company Ltd, stating that the company's liquidation does not imply insolvency or inability to pay debts. According to the RDB, there are no known financial issues, unpaid debts, or creditor claims against the company.
The RDB cited the 2021 laws governing liquidation, specifically articles 2 and 103, which allow shareholders of a solvent company to decide to place it in liquidation voluntarily. The authority emphasized the need to distinguish between Kigali Heights Development Company Ltd, which is undergoing liquidation, and the Kigali Heights building, now owned and operated by YYUSSA Company Ltd.
The clarification comes as a relief to stakeholders, including tenants and business partners associated with the Kigali Heights building. RDB's statement sought to provide transparency and reassurance regarding the status of the prominent Kigali landmark.
The Kigali Heights building, a significant commercial property, continues to host various businesses and activities. With the RDB's clarification, stakeholders can be assured of the building's ongoing operations under its new ownership.
Key points
- The Rwanda Development Board has clarified that the Kigali Heights building remains operational under new ownership despite the liquidation of its former owner, Kigali Heights Development Company Ltd.
