The
February 2016
Featuring Properties from Tanzania & Kenya
www.darproperty.net
East Africa’s Ultimate Property Guide
FREE COPY
Issue No 46 | ISSN 1821-7753
The Darproperty - February 2016 |1 The Darproperty - August 2015 | 1
2 | The Darproperty - February 2016
For most people in Tanzania, it is very difficult to buy a home with own money. Few people can afford to get millions of Tanzania shillings together to put down as lump sum.
HOME OWNERS ARE BETTER OFF THAN RENTERS IN DSM
F
or most people in Tanzania, it is very difficult to buy a home with own money. Few people can afford to get millions of Tanzania shillings together to put down as lump sum. Therefore a mortgage comes in handy to make the purchase affordable by spreading the payments towards the house over many years, since the payments towards the home are spread over years, the periodic payments are manageable and affordable. People who buy home through mortgage loan could save USD 18600 a year by purchasing a home rather than renting one. Monthly mortgage repayments on a residential property work out cheaper than renting a property in all areas surrounding Dar es Salaam region, on average the monthly payment for mortgage is USD 950, while rent normally sets people back USD 2500 a month on average for a four bedroom property according to Darproperty, the average mortgage repayment for a home buyer is just USD 950, saving them USD 1550 a month. Rising rents in many areas has made it cheaper to buy a home than rent one. Although the interest rate charged by Mortgage lenders in Tanzania is too high compared to other countries, to rent a home remain too expensive than buying. Currently the average interest rate for several mortgage lenders stand at 18% with the 20% down payment. There are significant disparities in amount of rent for home across the region, although it still cheaper to buy a home than rent in all areas.
4 | The Darproperty - February 2016
People in Oysterbay and Masaki stand to save the most by getting onto the property ranking. Average monthly mortgage repayments in the region are USD 2600 less than rents. They are followed by home buyers in Ada Estate, who are USD 2500 better off a month than renters. At the other end of the scale, first-time buyers save just USD 1248 a month compared with renters in Upanga. And it is only USD 179 a month cheaper to buy a home than to rent one in Kijitonyama. Buying a home with Mortgage loan involves several upfront costs such as Stamp Duty, solicitors’ fees and valuation fees but the most challenging cost for many applicants is down payment. Buyers required to make a deposit of 10% to 20%. Those who buy a property are gradually acquiring an asset and house price benefitting from rises. Buyers could save USD 18600 a year by purchasing a home rather than renting one and this is because, it is cheaper to buy a home than to rent one in all areas of the Dar es Salaam.
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STAMP DUTY ON REAL ESTATE TRANSACTIONS
D
evelopment of any country always depends on the proper tax collection, revenue from tax, helps in facilitating other development programs like Infrastructure, schools and hospitals. Individuals must understand and be proud to a role in the development process of their nation by paying their tax dues without evading. Real estate transaction involves several taxes, but there is one type of tax which is not common for many people but it is very important, The Stamp Duty. Stamp duty is the tax placed on legal documents usually in the transfer of assets or property, it is also referred as transfer duty because it is the revenue charged by states on various types of transactions such as transfer and agreements for the sale or rental of real estate, mortgage and insurance. It is customary in the common wealth countries and certain states in the United States. The transfer of documents in locations where this law exists, is only legally enforceable once they are stamped, which shows the amount of tax paid. Historical background indicates
10 | The Darproperty - February 2016
that stamp duty was initiated when the Stamp Act of the Tanzania main land Parliament was passed in 1972, came into operation on July 1972 and revised in 2006. In Tanzania, all authorities have the same levy with stamp duty, but in some countries each region has its own levy stamp duty calculated differently. With house prices rising rapidly more and more homebuyers are having to pay stamp duty, though what amount exact you pay depends on the property’s price. According to the stamp duty Act, any instrument relating to any property or thing performed in Tanzania mainland must be charged either executed in Tanzania mainland or if executed outside Tanzania mainland. Depending on the circumstance, this tax can be paid by the purchasers or the borrower at a flat rate or based on the value of the transaction. In Tanzania, stamp duty fee is 1% for receipt for any money or any other property. The stamp duty act specifies the persons to pay stamp duty where in most cases it is payable by the person drawing, making or executing the instrument.
IN CASE OF
PERSON LIABLE TO PAY
Lease Agreement
Lessee
Mortgage Deed
Mortgagor
Certificate of Sale
Purchaser of the property
Insurance
Person effecting the Insurance
14 | The Darproperty - February 2016
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U O Y DO D A E E N BLE? A T
Cel: 065 M-A-S-U-M-I-N (6278646) Email: info@masumin.co.tz
TOLL FREE 0800-11-00-24
“Mwanza, the agents you can rely on” +255 767/0714 245 779, +255782229887
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OFFICE SPACE FOR RENT
$2200
$2800
4 Rooms Coference hall Area-Mwaloni
Air condition Nyerere road Strong room 546 square meters Ideal for Banks Main road located
FOR RENT - Ghana
Tshs. 500,000/-
FOR RENT - Capri point
GODOWN FOR RENT
$1000
$1200
FOR RENT - Capri point
FOR RENT - Isamilo
3 Bedrooms 3 Bathrooms 300sqm each Lake view Ample parking High wall around the place Ground store Safety guarateed Area-Igogo/ Near town
FOR RENT - Capri point
$2000
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$1000
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FOR SALE - Capri point
FOR SALE - Bwiru
FOR RENT - Bwiru
FOR RENT - Bwiru Bima
$250,000 $400
Tsh.350m $1500
Tshs. 500,000/-
$1000
PLOT FOR SALE - Luchelele
FOR SALE - Isamilo
FOR RENT - Bwiru
FOR RENT - Ilemela
Tsh. 290m
$2500
$1000
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3 Bathrooms
REAL ESTATE The ABCs of REAL ESTATE MARKET Utility Easement: Use of another`s property for the purposes of laying gas, electric, water, and sewer lines. Example: A property owner grants a utility easement to the electric power company to extend power lines to the owner`s home. Vacancy and Collection Allowance: An estimated amount to be deducted from the potential gross income when preparing a budget. The vacancy rate budgeted may be the rate being experienced or forecasted for the market for the coming year, or a higher or lower amount depending on tenant loyalty, rent concessions, or management quality. Example: In a college town, the apartment vacancy and collection allowance expected was a blend of 5% during the 9 month regular college term and 25% during the summer session. Overall, it was 10%. Subjective Value: An estimate of a property`s worth based on the opinion of the owner. Example: Although the house was worth less than $50,000 on the market, Joan felt its subjective value was much higher because she had grown up in the home and associated many good memories with the place. Redeemable Rent: In a lease with a purchase option, the rent paid that can be applied toward the purchase price. Example: In a five year lease/purchase with a rent of $10,000 per year, the last year`s rent was redeemable rent; it could be applied in full to the purchase price. Mortgage Note the document that states the names of the borrower and LENDER, amount borrowed, Interest rate, repayment terms, and other loan provision. The MORTGAGE pledges property as COLLATERAL; the mortgage note provides the amount of dept and repayment. Potential gross income the amount of income that could be produced by a real property assuming no vacancies or collection losses. Does not include miscellaneous income. Contract with CASH FLOW, NET OPERATING INCOME. Example: An office building have 10,000 square feet of rentable space and rents for an average of $12 per square foot. Potential gross income for the building is $120,000 per year. Concessions on the ground floor that contribute $1,000 of annual revenue, and a 5% vacancy and collection allowance are not included in potential gross income. Strip development or strip shopping centre a form of commercial land use in which each establishment is afforded direct access to a major thoroughfare, generally associated with intensive use of signs to attract passersby. Generally without an ANCHOR TENANT COMMON PROPERTY property owned equally by all member of a group. Example :The following are example of common property: • Recreation area of cooperative apartment building • Park in municipally
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Residential Properties for Sale
Kaputei Gardens is an exclusive and elegant 5 bed roomed country homes in a gated community of four units only. Located in an exclusive area in Kileleshwa and developed on a 0.25 Acre parcel. Highlights Plinth Area 530 meters squared. 5 bedrooms all ensuite. Garages with extra parking spaces for visitors. Detached SQ and Guest wing 24 hrs security + panic buttons Family room
Sun Valley Estate phase 1, Lang’ata Kenya is a maisonette and double storey extension. The house is about 1,800 sq.ft earning a rent of Kshs 80,000 pm and the extension is 800 sq.ft. Fetching Kshs 30,000 pm. The property sit on approximately 1/16th of an acre with access to community facilities.
PRICE GUIDE KSHS 76 MILLION
PRICE GUIDE KSHS 17 MILLION
Commercial Properties for Sale & To Let
JKUAT SRBS Tower is situated on George Padmore Road on 1.93 acres in Kilimani area. The plot is currently being developed with a new office block measuring a gross built up area of 25,876 square meter. The building has 15 stories and 4 levels of basement parking. The typical office floor in the tower is divided into two individually wings to lease to corporate clients. The ground and first floor are more adapted to commercial functions. FOR RENTAL OR SALE CONTACT US FOR DETAILS
Crescent Business Park is located along Parklands Road, Opposite MP Shah Hospital, It offers a modern environmental friendly 10 storey office building with the following amenities: 4 levels of basement parking in addition to 2 podium level parking, 4 high speed lifts, 3 fibre connection KDN, JAMII and ACCESS Kenya digital fixed line, 2 GSM masts on site green environment and friendly, led lightning , to lower consumption and operating costs, generator back up power, borehole and large capacity 250,000 litre water storage, CCTV and access control monitoring the building 24 hrs, security control desk at ground floor. FOR RENTAL CONTACT US FOR DETAILS
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DAR ES SALAAM
WHAT REAL ESTATE TRENDS TO EXPECT IN 2016.
W
elcome 2016, the year 2016 will largely witness many changes in the real estate industry. As we have just ushered in the fifth government of United Republic of Tanzania. New President, new government, new plans. After a mere 100 days in the office for the new government, the Tanzanians have started to witness a different feel of things around. Dr. John Magufuli the fifth President of the united republic of Tanzania has taken the region by surprise on his austerity measures. His actions have inspired the most famous hashtag in the social media, #WhatWouldMagufuliDo, not only in Tanzania but across the globe. The man declared war against the corrupted and the lazy individuals. My predictions for the trends in the 2016 will so much be influenced by the decision and plans of this new government. The Prediction will focus on seven (7) areas of the industry. Prediction one. Low interest rates on mortgages. In year 2015 we could not witness a decline in the interest rates due to excessive government spending on things like the new constitution referendum, the general election and the speedy completion of some projects by the government to fulfill their promises to the voters before seeking 34 | The Darproperty - February 2016
for another term. In 2016, many people are pessimistic after the recently introduction of TSA (Treasury Single Account). What is TSA? Single Treasury Account (TSA) is a public accounting system under which all Government revenue, receipts and income are collected into one single account. The TSA is maintained by the Central Bank of Tanzania. The essence of TSA is to ensure accountability of Government revenue. The maintenance of a Treasury Single Account will help to ensure proper cash management by eliminating idle funds usually left with various commercial banks. All Government Ministries, Departments and Agencies are required to remit their revenue collections to this account through the individual commercial banks who act as collection agents. The cash collected by these banks will have to be remitted to the Consolidated Revenue Accounts with the Bank of Tanzania at the end of each banking day. The Pessimists argue that the commercial banks will be affected immensely because of the huge drop in their deposits and perhaps the interest rates on the deposit will soar and therefore an increase in the interest rates, moreover, they will have to re-strategize their workforce by retrenching
the back office staffs and hire more sales/ marketing executive to secure more deposits. My prediction is, there will be a fall in the mortgage lending rates with the introduction of TSA. How? With the TSA the government will stop borrowing some for its own money from the commercial banks through the issuance of Treasury bill/ bonds, because of poor government revenue collection, the government was always a desperate borrower therefore borrowed at a high interest rate, these rates become the benchmark for lending in the commercial banks and inter banks’ lending. With good liquidity, the government through the central bank will be the lender of last resort setting a much lower benchmark when lending the commercial banks. The government will also regain its grip on effective realization of its monetary policy therefore lowering the interest rates to ease finance accessibility to the public. Prediction two: More low cost housing schemes: In the past seven years, the private real estate developers had ignored the low and middle income group by concentrating on the development of luxury housing units for the upper and higher income group. This upper market now seems glutted, for the
year 2016, there will be at least six new low cost housing schemes of around 1200 units in total to be launched in Dar es Salaam between March and December, with the going price of TZS 65 million to TZS 120 million to fill in the available huge demand gap. Prediction three. Low Occupancy rate. The year 2016 will experience low occupancy rate in both commercial and residential units, but mostly on the commercial side of it. The commercial side seem glutted with too much available spaces chasing a very small effective demand, the situation is worsened by the recent huge fall of oil prices in the world market, forcing oil companies to reduce their budgets significantly, meaning, closing some of their operations, therefore abandoned the rented spaces both commercial and residential spaces for their workforce. Prediction four. Low prices on commercial spaces. With low occupancy rate as per the prediction three, automatically the prices will be forced to head south. Backed by simple economics law which states that, the increase in supply of quantity demand while other things are held constant will cause a drop of price. Prediction five. Low prices on residential rental and sell prices. The overly supply of the dwelling units and the decreasing demands especially for the upper market will notice a small price fall in both rental and
selling prices. A small portion of the low end of the market is experiencing the opposite of this, the rental prices have hiked significantly in places such as Mbagala, Temeke and the places around, Example a single room that was rented for TZS.20,000/= per month is now going for TZS. 50,000/= per month, a big thank you for the “Bomoa Bomoa� Victims who are scrambling for the units. Prediction six. Low tolerance on real estate quacks. For many years, people have been complaining about the ill behaviors of some individuals who pose as estate agents, doing a lot bad and tainting this much needed services. For the year 2016, the government has already done a draft of the bill, the real estate agency Act 2015, to be passed anytime soon. In the proposed Act, there will be a need for real estate agents and land brokers to register themselves with the registrar, have some minimum qualification to practice. Only licensed brokers and estate agents will be allowed to practice. After a long cry by the citizenry the assent of the bill is expected to improve the market environment and the government is expected to be sclerous to all the wrongdoers.
Prediction seven. Low cost on construction material. The buyers of the construction materials might see a good portion of the budget been saved, firstly, the fifth government, in its campaign rallies, before being elected promised voters to lower taxes on the construction materials to improve their housing and their wellbeing in general, therefore it is the show time now let us see it walk the talk, secondly, the increase in supply, the recently inauguration of a cement factory in Mtwara is seeing as positive contributor the consumers, the entrant firm will not only provide variety to consumers but am certain there will be some easiness on prices somehow somewhere, thirdly the oil prices, the recent decrease of oil prices will muchly affect the cost of production for the cement and other construction material manufacturers in their logistics bill therefore perhaps passing the relief to their ultimate consumers. Written by: Babu Masanja babumikael@gmail.com The Darproperty - February 2016 |35 The Darproperty - August 2015 | 35
LIST YOUR PROPERTY HERE FOR ONLY TSHS 30,000/= VAT EXCL.
SALE 100,000,000/=
MB E ZI BON AM KIG
SIN
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ERE R
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KIN
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SALE $2m
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E
OA D ER
IA HEN MIK OC GA TAN
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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
RENT
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4 bedroom house SALE $84,000 800 square meter 1 min from main road 300 yards from the beach. +255 655 323 286
H EAC
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MB WE N
I
MO RO GO RO
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Plot for sale located at Morogoro CBD - Boma rd surveyed location Plot size 2977 SQM +255 754 310 583 +255 786 088 600
RENT $1500
RENT/Joint Venture
SALE $177,000.
$1,500
A fully furnished 4 bedroom 3 bathroom eco house electric fence, garden, parking, 24 Hr Security 0713 856 962
SALE TSH 55m
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
SAL A
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RENT 600,000 /MONTH
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SAL A
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RENT
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CLASSIFIEDS I ON AM B
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NO PHOTO
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Joint venture
SALE TSHS 185m
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NO PHOTO
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SALE TSHS 120m
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ETA
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LESSONS FROM KENYA’S FIRST REIT OFFER
R
ecently, the sale of Kenya’s debut Income Real Estate Investment Trust (I-Reit) ended, paving the way for listing on the Nairobi Securities Exchange (NSE). The sale of Stanlib Investments Fahari Income-Reit’s shares to the public had to be extended by one week after the firm asked for more time to deal with investor queries. In a statement last week, Stanlib said pension managers and other institutional investors had asked for additional time to understand the new securities. The firm said being the first in the market meant they had to ensure investors understood how the new investment vehicle works. “Kenyans in general have a ‘wait-and-see’ attitude towards many financial schemes,” said James Muratha, the regional director of Stanlib Investments. The firm hoped to raise about Sh12.5 billion through sale of shares to the public. Each investor could buy shares worth at least Sh20,000. The money will be used to buy two commercial properties in Nairobi’s Industrial Area and a retail centre — Greenspan Mall — in Donholm. Investors are expected to gain from the income and capital appreciation of the portfolio of properties the fund is invested in. Initial reluctance But what lessons can we learn from the sale of the country’s first Reit? Muratha says they were not surprised by investors’ initial hesitation: “We had anticipated this. We had to name it ‘Stanlib’ just to make it more credible because we knew the perception out here.” The Kenya Revenue Authority wrote a letter to Stanlib, clarifying that investors of Kenya’s first I-Reit would not pay taxes on their earnings.
42 | The Darproperty - February 2016
“After KRA clarified the situation regarding tax, we have seen a spike in participation,” said Muratha speaking on Friday last week. Earlier scheduled to close on November 10, the Capital Markets Authority (CMA) approved an application to extend the Initial Public Offer (IPO), a move seen as an indication that the I-Reit had received little interest from investors. “The extension was sought to give investors more time to acquaint themselves with the new investment vehicle. This is a new thing in the Kenyan market and we have to give people more time to understand how it works, plus Kenyans love the last minute rush,” said Muratha, adding: “A bit more is needed to be done on the information front. Some have caught on faster than others. Our IPO is not like Safaricom’s, since Safaricom was already a known entity. We only had three weeks to educate the public.” According to Eric Musau, an investment analyst with Standard Investment Bank, the I-Reit received considerable coverage, a factor that helped push the IPO. “For new products in the market, a lot of publicity is needed for people to get correct information. I can say they (Stanlib) have done considerably well on the information front,” he said. Not all felt the same. By Monday morning, some potential investors were scrambling to get the right information. Henry Olale, a freelance business executive in the Central Business District, had called his broker to seek more information. “I have tried to read the paid adverts in the newspapers and watched television adverts, but I am yet to fully understand how Reit works. I feel the information has
not been well disseminated to reach even the guy on the street,” he said. But Stanlib is confident of what the future holds for Reits. “This is a game changer,” said Muratha, “... and it will determine how subsequent Reits will be perceived in this country.” NSE CEO Geoffrey Odundo agreed, emphasising the importance of Reits in enabling more Kenyans afford real estate investments. “The launch of Reits further enhances financial inclusion in our capital markets as average investors will now be able to invest in large-scale commercial, residential and industrial properties without requiring large sums of money,” said Odundo, during the launch of the Reits segment in the market. Insiders The skepticism was not restricted to potential investors. Key real estate insiders were also skeptical about the viability of the Fahari I-Reit, waiting to see how it fares on the securities market. Reginald Okumu, a director at Ark Consultants Limited, a Nairobi-based real estate firm, cast aspersions on the viability of the Reits in a write-up that analysed the new investment vehicle based on the property management team that will drive the properties bought, a comparison between the I-Reit yield with yields from alternative investments in the securities market and a forecast on rental income. He further analysed the underlying real estate assets and the lack of portfolio diversification as a way to mitigate unsystematic risk. In his assessment, lessons from struggling listing of real estate entities Home Afrika and Anglo African Property
Holdings Limited have not been learnt. “Reit provides investors at low-cost exposure, to the real estate market. Given its unique nature, investors require special tools to analyse an opportunity presented to help them make an informed decision,” he wrote. Investors But Muthara said the IPO was open to qualified institutional investors from East Africa, retail investors and foreign investors. “Most foreign investors jumped onto the IPO very quickly because they have experience with Reits from their own countries or other countries they invest in,” he said. “For institutional and retail investors, we have noticed the interest was across the board, although the interest is more from the former for obvious reasons.” But Okumu argued that given the performance of office real estate sub-market, the state and location of the properties, it is doubtful that the I- Reit will achieve targeted yields. However, Muthara said such criticisms show a clear lack of knowledge of the Reits market: “The properties earmarked for acquisition have undergone financial, civil, engineering and legal due diligence. They have passed the minimum requirement from the relevant authorities and questioning the I-Reit is questioning the mandate of these authorities. They all cannot be so complacent as to approve the acquisition.” He said the Reit had the backing of the Capital Markets Authority, Kenya Revenue Authority, Nairobi Securities Exchange and the Treasury. This article was written by: Mwaghesha Mkala Standard Media The Darproperty - February 2016 |43 The Darproperty - August 2015 | 43
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
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
CHINESE PROPERTY AGENT TRANSLATOR Msasani Road, Masaki English Chinese Translator Dealing with your chinese client sms 0756 50 11 37 giraffe_007@163.com
PHOTO & CO.ESTATE Kahama Road/Msasani peninsula P.O BOX 105121 Dar es Salaam. 0786 962 444 Email; Octavianfocas@yahoo.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
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
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
TANGANYIKA ESTATE AGENTS Village Walk, close to Sea Cliff Hotel +255 717 032 633 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
44 The DarProperty August 2014
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 +255 756 960 960, +255 714 444 250, +255 752 444 606.
MY BEACH Old Bagamoyo Rd. opp Yuasa auto impex P.O BOX 105200. Dar es Salaam Tel; +255 22 2701710
ARUSHA
ARUSHA +255 653 005 530, MWANZA +255 653 005 535, INFO@TZREALESTATE.CO.TZ TZREALESTATE.CO.TZ
Zanzibar - properties.com Tel: +255 774 44 19 07 Hotel Marine - Malindi Zanzibar
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 +255 784 23 89 62, +254 720 35 34 37 | sales@darproperty.netThe Darproperty - February 2016
|45 The Darproperty - August 2015 | 45
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PATRONS
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editor@darproperty.net
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PATRON PAGE NO ADAMAS.................................................................5 AYUB......................................................................27 BARCLAYS.............................................................47 BERGER .................................................................12 CES.........................................................................31 CHOKOLE.............................................................38 CRDB BANK............................................................3 DAT...........................................................................2 DCB BANK............................................................15 EASC......................................................................39 HOME POINT.......................................................48 IVORY TOWER..................................................8&9 JAMAL...................................................................21 KILI GOLF.............................................................13 LONGONOT GATE............................................32 MARINA........................................................22&23 MASUMIN.............................................................26 MWANZA.............................................................28 OCEAN LINK........................................................41 OLJORO TAN CITY.....................................24&25 PROLAND.............................................................33 REEF..........................................................................6 REMAX..................................................................21 SHANGHAI..........................................................16 SIMBA CEMENT.....................................................1 TANGANYIKA ESTATE AGENT............................7 TEMSO..................................................................41 UTT...................................................................1&11 VITAFOAM...........................................................14
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48 | The Darproperty - February 2016