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Rwenzori Towers
Summary of Proposed Investment

This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors’ consideration of the proposed transaction. Its purpose is to enhance the transparency of IFC’s activities, and this document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only.

Project number 27744
Company namePine Investements Limited
Country
Uganda
Sector1Construction and Real Estate
Environmental categoryB
Department
StatusActive
Date SPI disclosedApril 20, 2009
Projected board dateMay 29, 2009
Previous EventsInvested: July 13, 2010
Signed: June 22, 2009
Approved: June 19, 2009
View Environmental & Social Review Summary (ESRS), click here
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  Overview     Sponsor/Cost/Location     Development Impact     Contacts     Attachments  

Project description
Pine Investments Limited (“PINE” or the “Company”), a reputable local property developer in Uganda, intends to build and operate a modern office building of international standards in Kampala Central Business District (CBD), to be called Rwenzori Towers (the “Project”).

The project will consist of a twin five storey structure with office space for a total built up area of 19,368 m2, total commercial area of 12,011 m2, total lettable area of 10,232 m2 (representing 85.2% of total commercial area) and parking for over 400 vehicles. The design of the building will conform to modern fire and safety standards.

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