The
December 2016
Featuring Properties from Tanzania & Kenya
www.darproperty.net
East Africa’s Ultimate Property Guide
FREE COPY
Issue No 53| ISSN 1821-7753
The Darproperty - December 2016 | 1 The Darproperty - August 2015 | 1
KENYA - HOW GRAFT MIGHT BE AFFECTING REAL ESTATE
P
roperty prices around the country are rising steadily, with no end in sight to the trend. According to a report by investment firm HassConsult last year titled Urban Land Rises as Kenya’s Gold Standard, land prices had increased by 535 per cent in Nairobi since 2007. In April this year, the firm released another report saAying that land prices were most expensive in Upper Hill, where an acre was going for an average of Sh511 million. Ruaka was the most expensive satellite town, with an acre averaging Sh59.6 million. Some industry players and insiders believe that grand corruption, both in the counties and the national government, could be contributing significant to this trend. “When politicians obtain huge sums of money in unscrupulous ways, they have a tendency of channelling it into real estate, albeit indirectly through proxies. The proxies might be close friends and family members. And they are usually directed to invest the money in land and houses. Property is preferred to other investments because of it can be managed passively,” says Ms Leah Kanda, a registered quantity surveyor. She adds that the effect of this on the property market is highly destabilizing. “Right now, Nairobi has an overabundance of shopping malls because corrupt politicians have been setting up malls left, right and center in a bid to launder money,” she asserts. She is angry that grand corruption creates an uneven playing field in real estate that is heavily skewed in favor of a few. 8 | The Darproperty - December 2016
“The normal developer who wants to build residential apartments, for instance, has to apply for bank loans in order to secure the capital. However, a corrupt individual is hardly affected by the banks’ interest rates. When both developers ultimately put their apartments on the market, the corrupt developer can afford to charge lower rents than his debt-ridden counterpart, hence attracting more tenants faster,” Ms Leah Kanda laments. In October this year, Murang’a County residents held demonstrations across the county after it was reported that the county government had bought an arid piece of land in Makuyu for Sh10 million an acre, when government valuation of land in the area was Sh100,000 per acre. REFUSING TO SELL FOR LESS THAN MILLIONS AN ACRE Mr Mugo Mutembei, a building contractor with several interests in Murang’a County, told reporter that the residents of Makuyu are now refusing to sell land to that who cannot afford to fork out millions for an acre that was previously going for Sh100,000. And Mr Simon Ng’ang’a, the CEO of Nairobi-based property investment firm, Granite Capital, says that a similar effect is being felt in the city’s housing sector. “A developer can advertise a house for Sh15 million when its real market value is Sh10 million shillings. An individual who got money by corrupt means will easily pay the exaggerated price. After three or four of such purchases in a neighbourhood, the market value for similar properties in the vicinity rise to Sh15 million,” he says, adding that he has witnessed the phenomenon in a
number of estates in Ruaka. Mr Ng’ang’a believes that as a result of such scenarios, middle-income earners are finding it increasingly frustrating to own decent houses. “Even an increase by Sh1million can end up marginalising very many Kenyans. Unless the government deals decisively with corruption and money laundering, property prices will continue to be out of reach for many ordinary citizens,” he says. “If an individual shows up with a briefcase full of cash and wants me to sell him a piece of land or a house, I turn down that deal,” he says. This calls to mind the 2009/2010 property boom when property prices in Nairobi soared beyond reasonable rates. The Government spokesman, Mr Alfred Mutua said the Somali pirates, who were receiving millions of dollars in ransom money from hijacking ships, were buying property in Nairobi at inflated prices, causing the hike in property prices. But the chairman of the Kenya Property Developers Association, Mr Daniel Ojijo, strongly disagreed, sying the government was using the pirates as scapegoats. And contrary to Ms Kanda’s and Mr Ng’ang’a’s views, Mr Ojijo does not agree that proceeds from corruption are responsible for the soaring property prices. “The money gained from corruption that goes into real estate is too little to cause any noticeable disruption on the property scene,” insists Mr Ojijo, “It would be erroneous to blame the rising property prices on corruption as the market is mostly ruled by the forces of demand and supply.” Written by: LUKORITO W JONES
All idle land must be repossessed
T
he upshot in this noble move was to redistribute this idle land to other investors or to the Wananchi in the vicinity who were short of land. The decision to repossess the estates and farms was announced by the Minister for Lands, Housing and Human Settlements Development, Mr William Lukuvi, much to the delight of the Wananchi in the area. When on the campaign trail a year ago, President Magufuli had pledged to repossess all undeveloped estates, farms and other property including dormant factories and pass them on to other people for meaningful development. Mr Lukuvi said that the decision to repossess the undeveloped sisal estates and farms in Tanga Region was reached by President Magufuli in December, last year. The revoked estates included Lewa, Sagula, Bwembela, Kihuhi and Tilapula farm, all in Muheza District. This presidential move should tell the so-
16 | The Darproperty - December 2016
called investors who possess large tracts of undeveloped land what is in the pipeline. This is only a tip of the ice-berg. The government will not sit back and watch as unscrupulous investors hoard land. It is imperative to mention here that some farmers in this country get a raw deal when their farmland is passed to investors with little or no compensation at all. This is land grabbing which is, indeed, an abominable felony. The move will also curtail what land grabbers call “land banking.” Land bankers are greedy investors who purchase huge chunks of land, often corruptly, and leave them unattended for years so they can re-sell them for a higher price. No wonder some local and foreign investors are not taken kindly in some localities. It is worthwhile pointing out here that this is an undesirable practice that is knocking small-scale farmers off their feet not only in Tanzania but also in other African countries.
Many kind-hearted activists around the world have raised concerns that poor villagers, including those in Tanzania, will be forced off their land and agribusinesses in the near future, a sorry spectacle that will marginalize subsistence farming. But greedy land grabbers say that foreign investment can help poor countries create jobs, increase export earnings and use more advanced technologies. This could be the case if these so-called investors developed the land and treated the losers of that land kindly. But many investments have failed due to insufficient soil fertility, financing difficulties or over-ambitious business plans. In Tanzania, for example, some large biofuels projects have now been abandoned. But the land still remains in the hands of the “looters.” Even where investments are profitable, it is often difficult to see how they contribute to poverty reduction. The jobs created are few, short-lived and lowpaid- and public revenues are limited by tax exemptions or tax evasions.
Market Insight
economy. About 5.1 million hectares are cultivated annually, of which 85 percent are under food crops. Women, it has been established, constitute the main part of agricultural labour force. All this goes to a great extent to show that Tanzania performs miserably in agriculture despite the presence of highly brilliant development initiatives that include Kilimo Kwanza and the Southern Agricultural Growth Corridor of Tanzania (SAGCOT). And there are many smaller ones. These include the hefty plan to make Morogoro Region the breadbasket of the nation.
So, some of the poorest Wananchi in this country are losing their land, water and natural resources that have supported their livelihoods for generations.
(peasants) who cultivate average farm sizes of between 0.9 hectares and 3.0 hectares each.
It is these poor farmers who have provided the backbone of the economy for long. Yes, they should be protected. Agriculture is the foundation of the Tanzanian economy.
The government will not sit back and watch as unscrupulous investors hoard land.
It accounts for about half of the national income, three quarters of merchandise exports and is source of food and provides employment opportunities to about 80 percent of Tanzanians. This is the reality on the ground and there is, seemingly, nothing wrong with it. Agriculture has linkages with the non-farm sector through agroprocessing, consumption and export. It also provides raw materials to industries and a market for manufactured goods. Unfortunately, agriculture in Tanzania is dominated by smallholder farmers
This also means about 70 percent of Tanzania’s crop area is cultivated by hand hoe. But it should also be understood that 20 percent of the farmland is tilled by oxen ploughs and 10 percent by tractors.
In fact, the SAGCOT, which envisages increasing food output for local consumption, is indeed a boon for the wananchi. Like Kilimo Kwanza, SAGCOT is the brainchild of former President Jakaya Kikwete, a firebrand politician who has the welfare of Tanzanians close to his heart. SAGCOT is tailored to put more food on the table in all homes and generate surplus for export. Both initiatives seek to eliminate the spectre of hunger which often afflicts residents in the central and northern parts of the country. Indeed, Tanzania has no reason to have hungry citizens in one area and bumper harvests in another. It is imperative then that farmers, who make up nearly 90 percent of the 45 millionstrong nation, need a lot of societal support. It is these mostly poor peasant farmers who eke out a meager living out of farm work and produce surplus to feed the rest of the population. SOSTHENES MWITA
It is also unfortunate that Tanzania depends on rain-fed agriculture. Food crop production dominates the agriculture The Darproperty - December 2016 | 17 The Darproperty - August 2015 | 17
18 | The Darproperty - December 2016
TM
RECYCLING
*
Real Estate
RENT-TO-OWN HOMES: HOW THE PROCESS WORKS. Part Two Option Provisions The option provisions might be the most complicated – and double-edged – part of a rent-to-own contract. These are the provisions that can make renting to own the property more favorable to you than just renting – or that can make it easy for the seller to collect extra monies with no intention of ever letting you buy. These provisions should state: • The rent and what portion constitutes the rent credit. •The option deposit (under some agreements, you might pay only an option deposit or only a rent credit, not both. It’s up to you and the seller.) •That you have the exclusive right to purchase the home at the end of the lease period. This means that the seller cannot let anyone else buy the property during the option period (basically, while you’re renting the property). Make sure this period
22 | The Darproperty - December 2016
is long enough to give you a chance to correct whatever problems, like poor credit or lack of a down payment, that have made you unable to qualify for a mortgage right now. Eighteen months to two years is often a reasonable timeframe; three years might be even better. The contract should state how many days’ notice you are required to give the seller that you intend to buy, and at what point your option to buy expires. You may want to structure the contract so that you can buy before the end of the lease period if your financial situation improves sooner. •That the seller maintains homeowners insurance, that he/she stays current with property taxes and that he/she doesn’t take out any new loans against the house. You don’t want the seller to be able to do anything that gives another entity a right to the property because, if that happens, it will be difficult if not impossible for you to buy it.
• Any other conditions, besides electing not to buy, under which you forfeit your deposit and rent credit. These might include vacating the premises, trashing the property or failing to pay rent as agreed — basically, the same things that could get you evicted. Purchase Provisions The purchase portion of a rent-to-own agreement is similar to a regular real estate purchase agreement. Your country’s laws may require a standard contract for real estate purchase agreements. But even in a standard agreement, there’s room to negotiate the fill-in-the-blank sections. It will state the purchase price, which should be reasonable given current market values for similar properties. The seller might want to price the home 5% to 10% higher to account for price appreciation during the rental period. But keep in mind that home values could also decrease during that time. If that happens, not only might you not want
to pay the price you originally agreed to, but a bank might not lend you enough for you to close the deal. In this situation, you will end up not exercising your option to buy, and you will lose your option deposit and rent credit unless your contract provides an alternative. Let’s say the property is worth $200,000 at the time you’re drawing up the contract. You might be able to get the seller to agree to sell you the property for $210,000 or its appraised value at the time of purchase, whichever is lower. Whether the market increases or decreases, the price will be fair and the appraisal won’t prevent you from buying. Of course, these terms are highly favorable to you, the buyer, so don’t be surprised if the seller balks, concerned about taking a loss on the property or being unable to pay off his or her mortgage. So agreeing to a firm purchase price might be the only way to go. The contract should explicitly state which appliances and fixtures come with the house if you decide to buy it. Do you get the dishwasher, the fridge, the washer and dryer? What about the patio furniture and all the potted plants? Don’t assume anything; spell it out. Ideally, the purchase portion of the contract should also provide you with a remedy if
the seller backs out. You’ve put down the equivalent of an earnest money deposit in the form of your option deposit; have the contract require the seller to not only return your option deposit and rent credit, but pay you an additional sum if he or she doesn’t uphold the agreement when you’re ready to buy. You may never collect the money, but it doesn’t hurt to try. And just having such provisions in the contract could act as a deterrent to the seller’s reneging on the deal. You also want to contract to give you an out, and give you your money back, if the title isn’t clear or if a property inspection reveals that the home is in poor condition. These are typical contingency clauses in a real estate purchase contract. For protection, you should use an escrow service. This neutral third party acts as a financial intermediary between you and the landlord. It will hold your option deposit and monthly rent credits until you buy the property, at which point it’ll return the money to you to put toward your down payment and closing costs. If the purchase option expires and you decide not to buy, the escrow service will remit those sums to the landlord. It will also turn over the money to the correct party in the event that either of you violates your end of the agreement in a way that can’t be remedied.
Potential Pitfalls for Buyers Before signing that contract and entering a rent-to-own agreement, a potential buyer should: 1.Check the seller’s credit report. Look for potential warning signs that the seller is in financial trouble, such as delinquent accounts or a large amount of outstanding debt. Even after a satisfactory credit check, a potential buyer who currently lives in the home should still pay attention to any warning signs that would indicate that the seller is in financial distress. Some examples include phone calls from debt collectors and suspicious-looking notices that are sent to the house. 2.Recognize that the seller could lose the property during the rental period. This could occur for any number of reasons such as if he or she is unable to make the mortgage payments, a tax judgment is placed on the property, he or she goes through a divorce, is being sued, and so on. If the seller loses the property, the potential buyer loses the possibility of buying the property, forfeits the extra rent paid and will have to find a new place to live. 3.Ensure that the lease option clearly states who is responsible for various types of maintenance or repairs. This agreement
Continues On Page No 28 The Darproperty - December 2016 | 23 The Darproperty - August 2015 | 23
REAL ESTATE The ABCs of REAL ESTATE MARKET •
STABILIzED VALUE: is the value of a property after it reaches a normal occupancy rate and operating expenses. Example: A recent built 1,000-unit apartment complex is expected to take 2 years to lease up at market rents. At that time, extra advertising will no longer be needed to attract tenants. So expenses will become stable. The APPRAISER providing. In order to derive its AS IS VALUE, the appraiser then subtracted from that value for the reduced occupancy and higher expenses expected for the first 2 years.
•
LEVERAGE: Use of borrowing funds to increase purchasing power and, ideally, to increase the profitability of an investment. Example: Jumanne wishes to invest in real estate. The property costs $100,000 and produces NET OPERATING INCOME OF $10,000 per year. If purchasing with all cash, Jumanne annual RATE OF RETURN is 10% ($10,000 \$100,000) x 100. If he leverages the investment by borrowing $78,000, his return on equity may be higher. If the debt costs 8% ($6,000) annually, the leverage results in return of 16% ($4,000\$25,000). However, if the debt cost is 12% (9,000, the leverage is negative because it reduces the return on equity to 4% ($1,000|$25,000).
•
LEGAL NOTICE: Notification of others using method required by Law. Example: Edward wishes to rescind an OFFER to buy real state that has not been accepted by barker. Edward sends a telegram and registered letter to Barker as legal notice.
•
INTERNAL RATE OF RETURN (IRR): The true annual rate of earnings on an investment. Equates the value of cash returns with cash invested. Considers the application of COMPOUND INTEREST factors. Example: Asha sells for $200,000 land that she bought 4 years earlier for $100,0000. There was no CARRYINIG CHARGES OR TRANSACTIONAL COSTS. The internal rate of return was about 19%. That is the annual rate of return which is compounded interest must be paid for 100,000 to become $200,000 in 4 years.
•
SYNDICATION: A method of selling property whereby a sponsor (or syndicator) sells interest to investors. May take the form of the form of a PARTNERSHIP, LIMITED PARTNERSHIP, TENANCY IN COMMON, CORPORATION, LLC, LLP, OR SUBCHARTERED S CORPORATION. ExAMPLE: A syndication was formed whereby limited partnership interests were sold to investors. The partnership bought land with the EQUITY raised.
should also specify the types of changes or improvements (if any) the potential buyer is allowed to make to the property during the lease term. 4.Be sure to enter a “lease-option agreement” rather than a “lease-purchase agreement.” The former grants the option to buy at any time during the rental period, while the latter requires purchase by the end of the lease period and has legal ramifications for backing out. 5.Do market research and obtain a home inspection and an appraisal. This is how you can ensure that the home purchase price is fair before signing a contract. 6.Be aware that if the seller is unscrupulous, he or she can refuse to sell at the end of the lease-option period. This means that all the above-market rent money you’ve paid will be lost. A seller may also try to back out of the contract if the real estate market has appreciated rapidly and the property significantly increases in value – or hold you up for more money. Of course,
28 | The Darproperty - December 2016
none of these actions is legal, but if the buyer doesn’t have the financial resources to hire a lawyer, there won’t be much recourse against a shady seller. 7. Understand that if the market declines, you will still have to pay the higher price stipulated in the contract to own the home. However, if the price is too high, the lessee can just walk away and shop for a different property. However, you’ll will lose that portion of the rent that would have gone toward a down payment, so it’s important to do the math necessary to determine whether walking away is the best option. 8. Talk to a mortgage broker to find out what it will take to qualify for a home mortgage in future. While inability to obtain financing or sufficient financing is precisely why many buyers opt for rent to own arrangements, you want to make sure there’s nothing major in your credit history that could stop you from getting approved down the line. If you determine that you’ll still be unable to qualify for a mortgage by
the time the lease expires, a rent-to-own agreement could become a costly mistake. 9. HHObtain a condition of the title report. This can help a buyer learn how long the seller has owned the property. The longer the seller has owned it, the more equity and stability he or she should have built up in it. The Bottom Line In short, even though you’ll start off renting the property, it’s a good idea to perform the same due diligence you would if you were buying the property. Those who can afford to buy a home the traditional way, using financing, are probably better off doing so. But for those who just need to buy some time – or need to keep their options open or their funds liquid – renting to own can be a way to reside in your dream home now, and pay in full for it later. Source: investopedia
Do not take chances with your Real Estate Investment. Go for TBS approved products. We approve standards of all kinds of building materials. From Institutions and Individuals.
Tanzania Bureau of Standards -TBS Ubungo, Morogoro / Sam Nujoma Rd P.O. Box 9524 Dar es Salaam, Tanzania Tel: +255 22 245 0298 | +255 22 245 0206 Fax: +255 22 245 0959 info@tbs.go.tz | www.tbs.go.tz
LIST YOUR PROPERTY HERE FOR ONLY TSHS 30,000/= VAT EXCL.
CLASSIFIEDS I ON
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K IG
AM B
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NO PHOTO
SALE
FOR RENT $1,200
The Mikocheni House is Located at Plot No. 350 BLOCK HOUSE No. MCK/MCB,783 the House is fit for both residential & offices. Includes: 160.0 Sqm, 2 Room, 3 Bathroooms, Parking +255 713 882 669
SALE TSHS 185m
Plot for sale at Kigamboni Kibada 800 meters from the road, with 3500sqm. with Tittle Deed. NO AGENTS PLEASE 0769 115 502
MB
ON
EZI
DO
NI
House for sale at Masaki peninsular with the 1500 sqm plot size. Price Negotiable 0763 382 231
KIN
MS MLAS ANANI DIZ I
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FOR RENT $1,200 Mtendenii Street Opposite NHC Millitary House Mwenge 3 bedrooms, 3 bathrooms, Parking, 24 hrs Security 0673312460
NO PHOTO RENT TZ 400,000 SALE 18 acres property for sale at masaki peninsular ideal for investment project. Negotiable Price 0763 382 231
FOR SALE 3 Billion TZS
SALE TSHS 120m
Mbezi Near Thoms Supermarket Mbezi 0625551183
Plot size 1985 SQM +255 766 888 333 +255 716 444 888 +255 766 100 100
KIN
SALE 115m Near Flamingo garden, 1145 sqare meter near tarmac road price negotiable. 0718 405 001 / 0692 698 616
SALE TSH 40m Plot for sale at Kibada, 765sqm Block 15 near main road with the title deed 0713 803 069
SALE TSH 45m Tegeta Mivumoni, 1600sqm Plot for sale at Tegeta, Mivumoni. no title deed 0713 803 069
BO KO
PD ET KAW
TEG
MA
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SAK
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RENT $850 Fully Furnished 3 Bedrooms house for rent at Tegeta Namanga about 400 meters from Kibo Complex with Paved Parking and Fitted Spanish Kitchen with Utensils. 0754 612 969/ 0788 612 969
TEG
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KIB AD A
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Beach Plot 0.97 acre available for sale at Mbwa Maji Beach - Gezaulole15km from cm Kigamboni Ferry +255 713 760035
SALE
KIG
AM
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BEA CH
SALE TSHS 30,000/@sqm For Residential Houses - 20 by 30 square meter plots 3 plots available for sale +255 786 011 755 / 763 011 755
CIT YC
RENT $800 3 bedroom house, 1 self-contained Large compound Parking space Furniture negotiable High ceilings Private garden +255 754 781 240 BO NI
SALE Beach property available for sale in the peninsular. Price Negotiable 0763 382 231
MB
BU N
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The Tegeta House Has 2 upstairs Bedroom, 1 Bedroom Ground floor, 1 public toilet in dour,Big Space for C ar Park, Garden & Servant Quarter Negotiable 0713882669
EZI
House for Sale in Tegeta Area
SALE TSHS 51,000 /@sqm Bunju B these plots are suitable for development a School, Hotel, Multi-Purpose Hall, 3 Acres +255 786 011 755 / 763 011 755
RENT $ 600
Semi-finished, 2 bedroom apartments in Mbezi behind shamo tower Call: 0658696840
RENT $750 5 bedroom house for rent at Ungindoni Kigamboni with large compound, servant quarter and garage 0685 215 737
RENT Office Space to Let at Azikiwe Street near NMB Bank. +255 788 440 466 / +255 789 865 933
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CLASSIFIEDS
NU NIO TEG ETA U
SALE $177,000.
ON REQUEST
Beach plot for sale near Millennium Hotel 100 meters from the ocean with government offer of 35 years 0754 310 137 / 0713 451 395
SALE TSH 55m
RENT $21
Office space to let on united nation road, ideal location and quite area with free parking. 20.5 USD per sqm inclusive of service charge 0763 382 231
RENT $700
House for Rent Mikocheni B near Academic primary school 3 bedrooms, 2 bathrooms, enough parking, +255 762 210 893 / +255 713 301 172
SALE Tshs 340m
House for sale. The house is 500 meters behind Shamo park at Goigi Bagamoyo road Clean title, 900 sqm, 0715 686 051
SALE $ 1.5m SALE
Plot for sale in Masaki Off-Mwaya road Price: USD 1.5m negotiable Plot size: 1,777sq.m Call: 0658696840
MP
SALE TSHS 800m Big compound with big go-down capable of up to 20 containers, 3 phase electricity, DAWASCO connection, 2 bedroom house fully kitchen, dinning room and 4 bedroom servant quarter 0688 210 891/ 0758 210 891
SALE TZS. 23,000 @SQM On the way to Ndoto Polepole farm, beautiful serene 30 by 30 square meter plots, 3 plots available for sale +255 786 011 755 or 763 011 755
SIN
BA ,M GO
RENT $400
Fully furnished apartments for rent in Goba, Studio (usd 400) one bedroom (Usd 500), 2 bedroom (usd 1000) Call: 0658696840 BEA
NI
RENT 15,000/= T.sh
Plot For Sale Plot No. 245 Block 14sqm 1231 and Plot no 246 Block 14sqm at Kigamboni Mwongozo area, Near the Ocean. 2 Plots Available in one area,
0712 459 065, 0783 104 693
MB
MB
KIG
Plot for rent Tanga Well fenced more than 30 acres plot at kasela. 0754 324064 0754 529 829
EZI
EZI
BO AM
GA TAN
RENT
SALE TSHS 400m
3 Bedroom house Sinza kwa Remmy near The Place Fast Food Restaurant 288 SQM (NEGOTIABLE) +255 767 422 258 BEA
CH
790 sqm to let, ideal for super maket, bank,clinic. 22 USD per sqm inclusive of service charge 0763 382 231
CH
MA
ILA
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SAK
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RENT $22
RENT $5000
Beautiful 5 bedroom house for rent with Swimming pool, generator and large car parking space 0716 998 864
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House for sale Peninsular with the 2000 sqm plot size. Ready to move in house. Price Negotiable 0763 382 231
IJI
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MA
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SAK
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BEA
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Plot for sale located at Kimbiji Moris, 43 km from ferry, 230m from kimbiji beach, Area 3.3 acres. 0787 992 455/ 0714 633 499/ 0715 283 803
RENT $1500
3 bedrooms, 2 bathrooms, servant quarter, ample parking, 0784 247 724
MB EZI
MIK OC HEN
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KIG MLAM ANBON DIZ I I
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Bagamoyo Town near by Millenium Hotel and College of Arts, 250 meters from Bagamoyo Bus Stand, 0624 116 018/ 0758 266 860
BEA CH
Rent - $600
Located in Mbezi Beach Africana 2 Bedrooms, 2Bathrooms 0673312460
BA GA MO YO
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simply call 0767 200 202 classifieds@darproperty.net
RENT 1,800 USD 4 bedrooms, Packing, Modern kitchen, Mbezi Beach Round About MWAI KIBAKI ROAD 0673312460,
SALE 360m 500m behind Shamo park at Goigi Bagamoyo road. Clean title, 900 sqm, main water supply, three phase power connection. 0715 686 051
House For Rent, Mbezi, Dar Es Salaam Mbezi Beach Round About MWAI KIBAKI ROAD Mbezi Dar Es Salaam Tanzania
1,800 USD
32 | The Darproperty - December 2016
Real Estate Agents Directory in Tanzania DAR ES SALAAM
ABLA ESTATE DEVELOPERS & AGENCY CO.LTD Mikocheni Opposite Shoppers Plaza P.O BOX 3810, Dar es Salaam Tel +255 22 2772506 E-mail: ablaestate@bol.co.tz AUSTIN PROPERTIES LIMITED Mwai kibaki rd P.O. Box 19021 DSM +255 715 686 051 anoranthony84@gmail.com CHINESE PROPERTY AGENT TRANSLATOR Msasani Road, Masaki English Chinese Translator Dealing with your chinese client sms 0756 50 11 37 giraffe_007@163.com
GIMCO ESTATE AGENCY LTD Samora Ave, NIC Investment Hse, P.O BOX 8382 Dar es salaam Tel +255 22 2120988 Mob +255-784 900041
MY BEACH Old Bagamoyo Rd. opp Yuasa auto impex P.O BOX 105200. Dar es Salaam Tel; +255 22 2701710 NIKUZE REAL ESTATE AGENCY Morogoro Road P.O Box 10032 Dar Es Salaam Tel: +255 789/754/715/ 363 800 Email: nikuze@nikuze.com www.nikuze.com PHOTO & CO.ESTATE Kahama Road/Msasani peninsula P.O BOX 105121 Dar es Salaam. 0786 962 444 Email; Octavianfocas@yahoo.com. PROPERTY CONSULTANCY & SERVICES LTD 2nd Floor Kevin House - Samora Avenue P.O BOX.7152 - Dar Es Salaam +255 22 2120402, +255 713 690 220 info@pcsltd.co.tz www.pcsltd.co.tz PRESTIGE PROPERTIES Phone: +255-713-764-447/ 0767471293 Tel:+255-22-266-4373 Email:info@prestigeproperties.co.tz www.prestigeproperties.co.tz
GOLDBERG COMPANY LTD Real Estate & Mining Trade P.O. Box 22159 Dar es Salaam Old Bagamoyo Rd, Mikocheni B, 0715 270 517 / 0754 270 517 goldbergtz@gmail.com www. goldbergtz.com NEW DAY PROPERTY AGENCY COMPANY Mwinyijuma Road - Kinondoni, Room no.84, UVCC Complex +255 753 645 434, +255 717 035 552 +255 767 575 758 www.facebook.com/ raymond samson Laizer KEY REAL ESTATE SOLUTIONS Regent Chwaku North Ursino Tel: +255 22 2701674 0715 053 803, 0786 053 803, 0754 28 46 84 mariam@keyrealestatesolutionstz.com www.keyrealestatesolutionstz.com
ARUSHA
TANGANYIKA ESTATE AGENTS Sea Cliff Village (next to Sea Cliff Hotel) Plot 532, Toure Drive +255 742 074 262 info@tzagents.com TRELD COMPANY LTD P.O BOX 7656 Dar es Salaam Location Msasani Peninsular off toure drive +255 732 222 888, +255 716 777 999 treldestates@yahoo.com www.treld.co.tz
ARUSHA AWESOME HOMES AND PROPERTIES.
Shanti House, Plot 58 Block E Sokoine Road P. O. Box 249 Arusha, Tanzania. info@arushahomes.com www.arushahomes.com +255 754 337 899 / +255 786 337 899 HOMES & PROPERTY AGENCIES LTD Land Surveyors & Property Managers P. O.Box 10079 Arusha Boma Rd. Arusha 0787 805566 hopraltd@gmail.com TANGANYIKA ESTATE AGENTS
Shoprite Complex, +255 785 984 467 info@tzagents.com ZIPO HOMES
Rivergardens Business Park, Rm 4 P.O Box 20 Usa River, Arusha +255 787 474 580/+ 255 754 320 513 info@zipohomes.com www.zipohomes.com
MWANZA MWANZAESTATE Mwanzaestate.com +255 714 245 779 kisolimorris@hotmail.com
ZANZIBAR Zanzibar - properties.com Tel: +255 774 44 19 07 Hotel Marine - Malindi Zanzibar
+255 756 960 960, +255 714 444 250, +255 752 444 606. ARUSHA +255 653 005 530, MWANZA +255 653 005 535, INFO@TZREALESTATE.CO.TZ TZREALESTATE.CO.TZ
36 The darProperty August 2014
ENHANCE YOUR VISIBILTY & CREDIBILITY GET LISTED HERE WITH YOUR LOGO Tshs. 48,500/= Monthly / Tshs. 500,000/= Annually +255 784 23 89 62, 0688 75 18 68 | sales@darproperty.net
Real Estate Agents Directory in Kenya AXIS REAL ESTATE 0727 572836 0713 908 406 kv@kenyavaluers.com www.kenyavaluers.com 48209 Nairobi Kenya
HASS CONSULT LTD ABC Place, 1st Floor, P.O. Box 14090, Nairobi Tel: +254 20 4446914 www.hassconsult.co.ke
ARK CONSULTANTS LTD No. 16 Nas Apartments, Milimani Road P.O. Box 42093, 00100 Tel: +254 20 2726870 www.arkconsultantsltd.com
KARENGATA PROPERTY MANAGERS Head office: No.47 Marula lane, Karen P.O BOX 1552, Karen. 00502,Nairobi. 0733613744 / 0735099932
PROFESSIONAL PROPERTY MANAGEMANT LETTING & SALES 0708 848481 0733 785698 160662 Nairobi Kenya
KENYA VALUERS AND ESTATE AGENTS LTD 3rd Floor, Museum Hill Centre, P.O. Box 48209, Nairobi Tel: +254 20 3745697/512 www.kenyavaluers.com
SEMA ESTATE AGENTS Springette Office park, Block H2, Lower Kabete Road. Tel 020 2017940 / 0725 545527 seamus@semaestateagents.com semaestateagents.com
CORAL PROPERTY INTERNATIONAL LTD +254 735 801077 info@coralpi.com www.coralpi.com
DUNHILL CONSULTING LTD Hevea Court, Block A3, No.15, Eldama Ravine Road, Westlands Tel: +254 786 386 445 www.dunhillconsulting.com
FINANCIAL AND PROPERTY CONSULTANTS LTD Arbor House, Arboretum Drive P.O.Box 14459-00800 Nairobi Tel: +254 722 524383 www.fapl.com
KNIGHT FRANK Lion place, Waiyaki way Tel +254 20 4239000 / 0733 603260 info@ke.knightfrank.com
PENTA KENYA LTD Tropical lane off Wood Avenue P.O Box 101493 00101, Nairobi Tel 0731471872 / 0711 615782 info@pentakenyaltd.co.ke
PROLAND REALTORS LTD 6th Floor, Maendeleo House, Monrovia Street P.O Box 29509-00100 Nairobi Tel: +254 720 353437 www.prolandrealtors.co.ke
COMING SOON RWANDA REAL ESTATE AGENCY DIRECTORY
HALIFAX ESTATE AGENCY LTD Crossway Road, Westlands Tel: 3741269/3740306 info@halifaxestate.com www.halifaxestate.com ENHANCE YOUR VISIBILTY & CREDIBILITY GET LISTED HERE WITH YOUR LOGO Kshs. 2,500/= Monthly / Kshs. 25,000/= Annually The Darproperty - December 2016 +255 784 23 89 62, +254 720 35 34 37 | sales@darproperty.net
| 37 The Darproperty - August 2015 | 37
Publisher
PATRONS
Darproperty Tanzania Editor In Chief
Larson Chumi
editor@darproperty.net
Business Development & Products
Abdallah Mugasa Janeth Samwel Designs & Layouts
Dennis Maunga Mussa Khamis
dennis@darproperty.net
Marketing & Sales
Michael Francis
michael@darproperty.net
Distribution
Boniface Metta Online Content Manager
Mbwana Mbura Aloyce Mkude
Finance Administration Manager Ismail Mutanda Public Relation Officer Maria Urassa Accounts Executives Grey Mateni Moreen Mrema Lucynancy John
ADVERTISERS
INDEX
If you like what you are reading Buy from our Advertisers, remember to mention you saw their Advert in this magazine
PATRON PAGE NO Al noor Apartment..................................................9 Bank of Africa ..........................................................1 Blue Sky.......................................................................14 CoCo beach Villa..................................................15 CRDB Bank ...................................................................5 Dar Ceramica Centre..............................................4 Darproperty Insurance.......................................34 Deco stone................................................................33 Eco Box......................................................................19 Hamidu City.................................................................2
Office Assistant.
Jenga Jenga..............................................................5
Regulatory & Legal Advisors
Makurunge estate..................................................39
Brigita Laurance ABC Attorneys
Mikocheni B - Bima road, P.O. Box 105499 Dar es Salaam +255 22 2780 517 +255 784 238 962, +255 713 751 868 info@darproperty.net Distribution Should you have problems in obtaining copies of DarProperty Magazine, please contact
+255 713 888 036 +255 717 270 791
For Comments, Complains & Compliments pr@darproperty.net Country Director - Kenya Xavier Nanchengwa
Marina Apartments........................................26&27 Masumin Towers....................................................11 Mpanji Furniture.....................................................40 Nevada Property.....................................................20 Paul Shayo....................................................................6 Ras Laminate floor..................................................3 Reef Apartment ..........................................................7 Shanghai Mitsubish Elevator...........................13 Simba Cement...............................................................1 Tanzania Bureau of Standards......................29 Twiga Cement.............................................................1
Disclaimer The Darproperty is published by Darproperty Tanzania Company. All rights reserved. The contents and opinions expressed herein are not necessarily the representation of publisher’s view. All material published is deemed to originate from the author and will not accept any liability whatsoever in respect that have been sourced from contributors. Users are required to make their own judgement on the details contained in each advertisment. While every caution is taken in compiling the contents of this magazine, the publisher will not accept any liability for the effects arising thereof. No part of this publication will be reproduced with out written consent from Darproperty Tanzania Company.
Vitafoam....................................................................18 Wintech Elevators.................................................10
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