Darproperty november 2015 by Darproperty Tanzania

Featuring Properties from Tanzania & Kenya

The

www.darproperty.net

November 2015

East Africaâ&#x20AC;&#x2122;s Ultimate Property Guide

FREE COPY

Issue No 44 | ISSN 1821-7753

NOW IN MTWARA | +255 754 864 426 | +255 22 2138058 | info@realinsurance.co.tz | www.realinsurance.co.tz

The Darproperty - November 2015 |1 The Darproperty - August 2015 | 1

2 | The Darproperty - November 2015

”Tanzania´s leading land & property broker” www.tzagents.com Dar es Salaam

FOR SALE Mbezi Beach - 4 b/r $ 695,000

FOR RENT Mikocheni – 3 b/r $ 2,300 / month

FOR RENT Upanga – 3 b/r $ 1,600 / month

FOR RENT Oyster Bay – 4 b/r $ 3,400 / month

FOR RENT Close to schools – 2 b/r $ 900 / month

FOR RENT Snow crest – 4 b/r $ 650 / month

Arusha

FOR RENT Sakina – 3 b/r $ 550 / month

FOR RENT Njiro - 4 b/r $ 450 / month

Tanga / Pangani

FOR SALE Saadani – 13 acres $ 200,000

FOR SALE Amboni – 4,5 acres $ 135,000

FOR SALE Stahabu – 3,4 acres $ 85,000

FOR SALE Pangani – 2 acres Price on request

Contact Dar Salaam Dar eses Salaam

Raphael Nondi

Manager Dar es Salaam Tel. +255 717 032 633 raphael.nondi@tzagents.com

Arusha

Anders Wehtje

Founder Tel. +255 785 984 467 anders.wehtje@tzagents.com

Tanga / Pangani

Annabel Burdes

Partner Tanga / Pangani Tel. +255 784 632 529 annabel.burdes@tzagents.com

Property of the month! Sakina – Well Designed - $ 425,000

PHOTO

Great, well designed, multi-faceted property located on 1,5 acre plot in a good neighbourhood of Sakina. The compound contains numerous, equally well thoughtthrough and beautiful houses. Main house with spacious and airy kitchen, living- and diningroom area in open floorplan that comes with a 2-storey height to the ceiling and a fireplace. Further rooms downstairs include kitchen, bathroom and hallway. Beautiful floors with mosaic. Upstairs loft that presently houses a combined sleeping- / livingarea. The main house also contains a ”wintergarden” styled livingroom – being a perfect place to entertain friends and family (or watch Manchester United on the big screen…..). Further houses include a 2 bedroom, 100% self contained guest house, perfect for long staying guests or for long term lease (the property has a very mature, green and bushy garden that makes living in the different houses 100% private). This property offers so many opportunities – in whatever way you choose to look at it!

A MODERN AND SECURE HOME WITH A STUNNING VIEW

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LOCATION: Msasani Dar es Salaam, Old Bagamoyo Road, Plot 389/1 & 2 (opposite JKT)

LOCATION: Msasani Dar es Salaam, Old Bagamoyo Road, Plot 77B/2 (near Msasani Beach Club)

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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

DECLARATION OF THE MEMBERS OF THE AFRICAN UNION FOR HOUSING FINANCE (AUHF)

n 28 October 2015 all members of African Union for Housing Finance, involving public and private sector met and held their 31st annual general meeting in Durban, South Africa, in this meeting AUHF express their commitment to making housing finance markets work in Africa. According to the AUHF, Africa’s housing finance sector has been going through considerable growth and change over the last decade, responding to the broader economic growth opportunities and rapid urbanization. Over the past decade, developers have been gearing up to build housing, and housing finance systems are reconfiguring themselves accordingly. There is evidence of housing delivery and, increasingly, the reality of affordability is being addressed with innovative products that pinpoint the particular needs of the market. Housing finance and mortgage markets are also slowly developing, and as economic frameworks improve, some investors are actively targeting the residential property sector. They added that, the activity is insufficient given the population growth and urbanization

14 | The Darproperty - November 2015

pressures that are clearly evident in African cities. The rise and persistence of informal settlements and inadequate housing is a visual and lived expression of the failure of African finance and construction sectors, our policy and planning frameworks, and African land use management systems to engage with the reality of demand. African countries need to increase the scale of delivery, while decreasing the costs, so that more and better housing can be delivered on a sustainable basis. In accordance with the AUHF access to decent, secure, affordable housing is a crucial part of the African Agenda for 2063, and is the AUHF responsibility in terms of Goal 11 of the Sustainable Development Goals. These intentions, reiterated in the Draft African Common Position on Habitat III, frame AUHF expectations and commitments. AUHF have revealed that, housing must be paid for, by someone. And so, housing finance is a critical link in the housing delivery value chain. Whether through subsidies, savings, credit, or investment, the cost of housing must be covered by an investor – whether that is the state, the household, a developer or a financial institution – who trusts that

benefit will be derived from the investment. Whether the benefit is financial or social, or a combination of the two, efficient and effective housing finance systems make it possible for investors to realize a benefit that encourages them to keep engaging. If we are to have housing markets that work, we need housing finance markets to work. In their meeting, AUHF expressed that, housing affordability is a fundamental challenge that cannot be overlooked. With the majority of housing demand across Africa being expressed by first time home seekers without equity, and with low incomes, only a fraction of households can afford the housing currently being delivered by the private sector. Investment in innovative, low cost technologies and technical support to the housing sector can enable a new standard of affordability to meet the needs of our majority. Further, incremental construction approaches can spread the costs of housing over a series of more manageable steps, there for UAHF need to acknowledge the housing affordability reality with more realistic land use planning frameworks and delivery bylaws, and with innovative financial products that understand and respond

directly to the capacities of the market. Due to the fact that the mortgage instrument is a useful tool for making housing more affordable, and for enhancing the financial intermediation capacity of our economies but it will not serve the housing needs of the majority. AUHF members decided to work on all fronts addressing the macro-economic and monetary policy issues that enable mortgage markets to develop, while elevating the role that non-mortgage, housing microfinance initiatives can and do play. According to AUHF the housing backlog figures are frightening and there is a desperate need for the scale delivery of housing solutions, whether for ownership or for rent, that are affordable to the breadth of the population. In outlining the challenges, keynote speaker to the AUHF Conference, Dr Issa Faye, of the African Development Bank said that, in Nigeria alone, the backlog is estimated at 17 million units. South Africa estimates a 2.1 million housing unit deficit and has 1.5 million households living in slums. In Kenya, an estimated housing backlog of 2 million units is growing annually by 200 000 units; and in Morocco, the 800 000 unit backlog is growing annually by another 178 000 units. These figures are replicated across the continent. Delivery of new housing is not even keeping pace with growth, not to mention addressing the backlogs. AUHF recognized that the problem of high housing backlog driving the increasing pressure on our cities. Also they recommended that delivery capacity is fundamentally influenced by policy and regulatory systems, access to construction finance and equity, efficient payment regimes, of course, effective demand for housing. Policy is fundamental to efficient housing finance systems. From macro-economic, tax and monetary policy through to land use frameworks, building codes, labour law, and so on, government sets the rules and enables the pathways that the private sector can follow to deliver good and effective housing solutions that are affordable to the population. Private investors, lenders, and development finance institutions are powerful players with the ability to influence development trajectories and the realm of the possible. While policy must create and nurture an enabling environment, the investment sector must also actively seek niches in which they can engage, and grow these to continuously expand access to lower income earners. We also understand that we need to engage with the reality of informality and develop mechanisms to accommodate this in our approaches. This will take long term, committed investment, and a vision that appreciates the potential of the market of the future, notwithstanding the challenges faced today. Partnerships: The housing finance challenge is not just a challenge of financial engineering,

but was also tied fundamentally to the housing delivery value chain. The complexity of the housing process makes partnerships a necessity. These need to be well structured, however, with each player taking a role appropriate to its own capacity. The role of government is to set an appropriate and enabling legal and regulatory framework, and to lead in the provision of serviced land for housing. Government can also provide legislative innovation and budgetary support for specific development objectives in the housing sector, such as VAT relief on newly constructed units sold to target market households. Full subsidisation is not required, however, as financial institutions have the capacity and appetite to provide development capital, risk mitigation products and end user finance. Development Finance Institutions can provide additional capital, technical assistance and targeted risk sharing mechanisms. With the legal and financial framework in hand, developers can then drive the initiative with their development expertise, also taking part of the risk. Lastly, households themselves, have a variety of capacities to contribute towards the realisation of their housing needs whether financially or with their labour. Public private partnership arrangements are risk-sharing arrangements in which parties bring together their resources and use these collectively to realise the objectives of the project and effectively manage its risks.

Attention to the housing impact of macroeconomic and monetary policy: the growth of the housing sector in Africa demands greater financial innovation that increases the capital available, whether for lenders, developers, or households themselves. Our capital markets are shallow and secondary markets are ineffective. A critical issue for attention by policy makers is the creation of an environment conducive to long term funding and increased investment. The role of the central bank and monetary policy is fundamental in this regard. Key areas for policy attention include interest rates, inflation, tax policy, currency risk, capital requirements and other macro-economic issues that impact on housing.

Accommodation of non-mortgage, housing microfinance as a viable and central component of a national housing finance framework: housing financing systems that accommodate the financial capacities of the majority are critically needed and cannot be overlooked in favour of unrealistic expectations of wide-scale mortgage finance. There are very positive examples of inclusive housing finance systems across the continent, but these are not yet operating at the scale required. Governments can assist in promoting non-mortgage housing finance systems through the active and regulatory promotion of developmental credit, effective and appropriate credit regulatory systems, and UAHF urged the governments to address the establishment of land use management the following critical challenges: systems that provide for and facilitate incremental housing delivery approaches. Transparent land management systems: the investment of capital in housing markets Consistent national housing policy and depends on legal frameworks that confirm regulatory framework. The long term nature and support ownership or tenancy rights, and of housing investments makes the current allow property to be used as collateral for situation of policy uncertainty critically access to credit. Sound planning frameworks important. Unpredictable regulatory that promote the growth of sustainable human changes, complex legal frameworks and settlements are a critical part of the enabling volatile local currencies all limited investment environment on which investment depends. timeframes and challenge exit strategies, Governments across Africa should streamline encouraging investors to look elsewhere, or and prioritise their land legal frameworks, upmarket, where the capacity to absorb establishing and improving appropriate and costs is greater. Government policy can have sustainable titling systems, ensuring security a significant impact on investor interest and of tenure, and clarifying and upholding market participation, simply by being reliable rights of occupation and use, all in favour of and timely. At the same time, good policy effective housing markets. can improve the reach of good investment â&#x20AC;&#x201C; extending the benefits of investor interest Investment in infrastructure and serviced to a wider array of people, and critically, land for housing: a key constraint facing down-market. housing developers in the delivery of housing at scale is access to serviced land for All members of the AUHF, confirmed housing. Government can facilitate increased their commitment to the development of construction by making land available through sustainable housing finance markets that its regulatory and other levers, and investing address the broad spectrum of needs in the in bulk infrastructure to support this. As cities countries and regions throughout Africa. As develop, the establishment of effective individual housing sector practitioners, and rating and collections systems can also build collectively as members of the African Union municipal capacity to further meet the need for Housing Finance, AUHF were committed on an ongoing basis, while also establishing to: critical contracts for local citizenship. The Darproperty - November 2015 |15 The Darproperty - August 2015 | 15

>> AUHF • The development of appropriate housing and housing finance products that are affordable to our populations, that respond appropriately to the reality of informality, and that contribute effectively towards adequate housing for all, across our nations. • The mobilisation of capital resources, long term and in local currencies, debt and equity, with the appropriate risk underpins and supportive frameworks to encourage the participation of a diverse range of investors across the range of housing solutions, and to enable developers to grow their capacity to operate at scale. • The realisation of scale delivery that meets the growing demands for housing with realistic, affordable products, including the delivery of affordable, well-managed rental housing at scale. • The establishment, and consolidation, of sustainable and robust institutions throughout the housing supply chain, and the provision of capacity support, technical assistance and professional development. • The collection, analysis and dissemination of evidence based information on effective housing finance practice and the performance of the housing market. In this, we are committed to sharing best practice and building track records that can be monitored on an ongoing basis, setting benchmarks for our peers and one another, in support of more effective housing markets across the continent. • Increased dialogue and engagement between the public and private sectors, at a local, national, regional, continental and international level. • Working in collaboration with each other, and other stakeholders, whether in the public or private sectors, to promote the realisation of sustainable human settlements across Africa. The AUHF is keen to engage with respective governments on both micro and macroeconomic issues, including interest rates, tax and monetary policy, and housing and land policy as it influences the growth and performance of housing markets. The AUHF and its members look forward to working with governments and other stakeholders, in respective countries and across the continent, in promoting the investment capacity of Africa’s housing sector and meeting the housing needs of its residents. The above information was shared by Mr. Oscar Mgaya. The Newly appointed Chairman of AUHF who is also, Chief Executive Officer.

16 | The Darproperty - November 2015

PUBLIC ANNOUNCEMENT

Oscar Mgaya elected to be Chairman of the Board of the AUHF Tanzania Mortgage Refinance Company Limited (TMRC) Chief Executive Officer Mr Oscar Mgaya has been elected to be Chairman of the Board of the African Union for Housing Finance (AUHF). This was announced in advance of the 31st AUHF Annual Conference and AGM which took place in Durban, South Africa 26th – 28th October 2015. Mr Mgaya is taking over from Mr Colin Chimutsa who was Chairman of the AUHF Board for 3 years. Mr Mgaya has been serving the AUHF board since September 2012. Recently, he was also elected to be a member of the Executive Committee of the International Union for Housing Finance (IUHF). He has over 20 years of commercial real estate and financial services experience. Prior to joining TMRC, Mr Mgaya was Director of Real Estate for Limited Brands in the United States. He previously also worked for JP Morgan Chase, General Electric Company and Merrill Lynch. He received both his Bachelor of Arts degree in Finance & Management, as well as his Masters of Arts degree in Management from Walsh University in the United States. Other AUHF Board Members include Mr Cas Coovadia (South Africa), Mr Reginald Motswaiso (Botswana), Colin Chimutsa (Zimbabwe), Femi Adewole (Kenya), Charles Bonsu (Ghana), Dr Charles Inyangete (Nigeria) and Mr Omar Sarr (The Gambia).

The AUHF is a member-based association of mortgage banks, building societies, housing corporations and other organisations involved in the mobilisation of funds for s helter and housing on the African continent. The AUHF was established in 1984. The AUHF c urrently has 48 member organisations from 17 countries: Botswana, G hana, Kenya, Mauritius, Namibia, Nigeria, Rwanda, Seychelles, South Africa, Swaziland, Tanzania, The G ambia, Uganda, United Kingdom, United States of America, Zambia and Zimbabwe. TMRC is a specialized private s ector financial Institution that provides long- term funding to financial institutions for the purposes of mortgage lending. It has the objective of s upporting financial institutions to do mortgage lending by refinancing Primary Mortgage Lenders' (PMLs') mortgage portfolios. This type of lending is also k nown as wholesale or secondary market lending. TMRC is neither taking deposits nor lending directly to individuals. It r efinances mortgage loan portfolios r ather than extending mortgage loans to individual and c aters to banks r ather than individual borrowers.

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FOREIGNERS TO OWN PROPERTY IN TANZANIA

anzania in recent years has witnessed a huge influx of foreigners and being amongst the leading recipients for foreign direct investments, this demonstrate the success of the government’s investment policies and measures to make Tanzania an even more attractive investment destination. Recently during the laying of the foundation stone at one of the NHC projects in Dar es salaam, the NHC Board Chairperson, Ms Zakia Meghji, made a request to the then President of Tanzania, Dr. J.M. Kikwete, seeking amendment of laws to allow foreigners to buy housing units, President Kikwete said a formal request should be forwarded to the government for consideration. Dr Kikwete said not all houses and buildings in developed countries are owned by locals

22 | The Darproperty - November 2015

but foreigners who are allowed to buy and are given conditions to follow if they want to construct a building. “In Dubai, South Africa and other developed countries, this method applies, which is a big catalyst to those countries economy. We should not be our own stumbling block in achieving our goals in development,” he emphasized. The president`s remark received mixed reactions from different stakeholders, including local and foreign investors. One investor mentioned that, “I think the President is right, we need to welcome more foreign investors and allow them to buy properties in Tanzania that is the only way to make the industry more vibrant and truly making ourselves global citizens.”

It was not the same to some individual, Mr. J.Chiwalao, a Tanzanian living in Kigali, Rwanda, Commented, “The review on fixed asset ownership is a broad thing, perhaps, there few things to be corrected to fit the current demands and needs for the betterment of our community, but, I am against the move taken by the Corporation to categorically seek the review, The corporation`s primary role is to provide or facilitate the provision of houses and other buildings in Tanzania, their focus should be the local market, with a deficit of over 3 million units and 200,000 more units every year their focus should have been tailored to satisfy this ready demand rather than ignoring it.

Discussion countinues on our website & social media platforms

c hok ol e

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Mikocheni, Garden Road, Dar es Salaam, Tanzania. +255 786 924373, +255 658 924 373

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www.mwanzaestate.co FOR RENT - Bwiru

OFFICE FOR RENT - Mwaloni

FLAT FOR RENT - Ilemela

FOR RENT - Capri point

$1000 $2200 $1000 6 Bedrooms 7 Bathrooms 5 Rooms, Conference Hall, 3 Bedrooms 360 Balcony Air condition Swimming pool Main road located, 2 Kitchens 4 Bathrooms Near main road Hot water Strong room,generator room Ample parking area

$1000 3 Bedrooms 3 Bathrooms Basement

FOR RENT - Buswelu

FOR SALE - Capri point

$4000

Tshs. 340,000/= 3 Bedrooms Ample parking Wire fenced

FOR RENT - Capri point

$1000 $350 2 Bathrooms 4 Bedrooms Security guards 4 Bathrooms Lake view Ample parking area

FOR RENT - Nyegezi

Tsh. 420,000/=

$300,000 $600 3 Bedrooms 2 Bathrooms 3 Bedrooms,1465 Square Fenced meters, Ideal location Ample parking Near town

FOR SALE - Capri point

PLOT FOR SALE - Igogo

$250,000 $400 3 Bedrooms Servant quoter Near town 1493 Square meters

Tshs. 160m

1500 Square meters 4 bedroom house included Near main road

900 Square meters Fully fenced Located by the main road

546 Square meters Nyerere road

FOR SALE - Luchelele

FOR SALE - Buswelu

FOR RENT - Capri point

FOR SALE - Isamilo

Tsh. 290m

Tsh150m $300/ Self contained 10 bedrooms, 2 Bedrooms sold with furnitures Near Hindu Mandal hospital 3 bedroom house behind the lodge.

1 Acres Lake shore Accessible Near Jembe Beach

Garden Lake view

GODOWN FOR RENT - Igogo

$3600

OFFICE FOR RENT-Nyerere rd.

$4000

$800

Bedrooms, furnished, near town

REAL ESTATE The ABCs of REAL ESTATE MARKET Mortgage out To obtain financial in excess of the cost to contract a project. During easy-money periods, DEVELOPERS could mortgage out by obtaining a permanent loan commitment based on a high percentage of the completed project’s value. This enable the developer to borrow more than the cost of developing the project. Since then opportunities to mortgage out have been virtually eliminated by lower LOAN-TO – VALUE RATIONS, higher capitalization rates and higher construction costs. Example : A proposed office building is projected to produce annual net operation income of $100,000. At a capitalization rate of 10%, the building is worth $1,000,000. A takeout loan commitment is obtained for 80% of value, or $800,000. The developer requires only $750,000 to purchase the land and contract the building. The $50,000 excess cash available to the developer represents the results of the developer mortgage out. Megalopolis large sprawling urban area. Often refers to the merging if different metropolitan areas into an unbroken stretch of urban development Example: The northeastern coast of the United States from Boston to Washington, D,C., often is considered one big megalopolis . Eviction a legal proceeding

by a lessor (landlord) to recover

possession of property. Example: When the Tenant fails to comply with the lease agreement (skipping rent payments, unauthorized use of the property, etc,) the landlord may seek eviction of the tenant. If successful, this action will terminate the rights of the tenant to use the property. Dutch auction a bidding process in which the asking price is lowered gradually until someone places a qualifying bid. Example: The home was offered in a Dutch auction beginning at $150,000. The auctioneer lowered the price gradually in $5,000 increments until s bidder was found willing to pay

$120,000.

Therefore, the home was sold for $120,000. Revocation an act of recalling a power of authority conferred as a revocation of a power of attorney, a license, an agency, etc. Example: The revocation of Abel’s broker’s license, caused by his fraudulent acts, prevented him from earning a living in real estate. Salvage value the estimated value that an asset will have at the end of its useful life. Example: An appraiser estimate the useful life of a building at 40 years; she also estimates that the building’s salvage value would be $10,000 in 40 years. Consequently, all but $10,000 of the building cost is to be depreciated over 40 years.

Average Advertising Rental Prices for a 4 (four) Bedroom Property in selected Areas in DSM ! !

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Average Mortgage inTZS

2014

2015

Changes

62m

65m

11%

Commercial Occupancy Rate% (CBD) Retail Office Spaces Central Business District 2014

2015

67%

59%

Changes

-12%

Average Selling time for House at Market Pricen in TZ 2014

series 3

2015

2.5yrs

2.1yrs

Commercial Occupancy Rate (Out of CBD) 2014

2015

Changes

73%

71%

-3%

Home Buyers used Finacing Options Joint Saving

43%

Mortgage

Ones Saving

38%

Joint Mortgage

Other

Mortgage Growth (Total) Leveling (in TZS) 2014

158B

2015

250B

Changes

+59%

RUNDA MIMOSA

TO LET: Kshs.400,000/= per month. Ref. 69

A spacious double storey house on ½ acre in this secure residential area. Bedrooms, Cloakroom & Kitchen. Garage, 2 Staff Rooms.

LOWER KABETE – OFF GENERAL FOR SALE: Kshs. 38 million. MATHENGE DRIVE Ref. 47

MUTHAIGA

TO LET: Kshs.140,000/= per month. Kshs.5,000/= (Service charge) Ref. 52

A double storey GUESTWING in a secure and neat compound. Living Room, Dining Room, 2 Bedrooms, 2 Bathrooms (1 Ensuite), Cloakroom & Kitchen.

RUNDA – OFF RUAKA ROAD

FOR SALE: Kshs. 100 million. Ref. 10

A modern and secure FOURTH FLOOR APARTMENT conveniently A cozy house on ½ acre of mature garden in this secure part of Runda situated in a development of 15 at the junction of Kabete Lane & General Estate. Living Room, Dining Room, 4 Bedrooms, 2 Bathrooms (1 Ensuite), Mathenge. Lounge, Dining Room, 4 Bedrooms, 3 Bathrooms with bide (2 Kitchen & Study. Includes 2 Ensuite Guestrooms. Ensuite), Cloakroom, Kitchen & Utility Room. Swimming Pool, Inverter for power backup, 1 DSQ, 2 Car Parks.

LAVINGTON, O WASHIKA ROAD

FOR SALE: PRICE GUIDE: Kshs. 190 Million. (Offers Invited) – OFF ISAAC GATHANJU ROAD Ref. 74

FOR SALE: KAREN, Price Guide Kshs. 640 Million (Offers Invited) Ref. 104 MIOTONI ROAD

A FREEHOLD plot of 0.786 OF AN ACRE with an old style house. AN IDEAL PLOT FOR THE REDEVELOPMENT OF TOWNHOUSES.

A stunning 10.4 acre Freehold plot on Miotoni road, close to the Ngong Road junction. Masses of beautiful trees and an old double storey house. Frontage to a dam. A VERY IMPORTANT DEVELOPMENT SITE.

RUNDA – BENIN DRIVE

FOR SALE: PRICE GUIDE:Kshs. 42 Million. Ref. 12

A 0.5 acre plot located in this secure & developed part of Runda Estate. • Level plot. • Services available.

WESTLANDS

FOR SALE: Kshs. 45 Million. Ref. 77

Located close to the Sarit Centre, the CBD and schools, a spacious DUPLEX in a secure compound. Living & Dining Room, Family Room, 4 Ensuite Bedrooms, Cloakroom, Laundry Room & Kitchen. Can be sold fully furnished.

RUNDA

TO LET: Kshs.350,000/= per month. Ref. 52

A well presented double storey house on 1 ACRE of mature garden in 6 Bedrooms, 5 Bathrooms (4 Ensuite), Kitchen & Cloakroom. Double Garage, Laundry Room, 2 Staff Rooms & Sauna. AVAILABLE 1ST SEPTEMBER 2014.

RUNDA – RUAKA DRIVE

FOR SALE: Kshs. 93 Million. Ref. 59

A delightful and beautifully presented double storey house set in ½ acre of Bedrooms, 4 Bathrooms (2 Ensuite), Cloakroom, Kitchen & Terrace. Garage, Generator Room, Laundry Room, 3 Staff Rooms.

LOWER KABETE

FOR SALE: Kshs. 80 Million. Ref. 48

A double storey house in a development of SIX each with private compound. 2 Living Rooms, Dining Room, TV Room, 4 Ensuite Bedrooms, Study, Kitchen (includes dishwasher, electric oven, hob and extractor). 1 Staff Room.

LAVINGTON, OTHAYA ROAD

FOR SALE: PRICE GUIDE Kshs. 250 MILLION (Offers Invited) Ref. 73

A prime FREEHOLD plot for development of MULTISTOREY FLATS. – 0.759 ACRE. There is a delightful old style house which will sadly be lost.

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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

ProLand Realtors Limited Making the Real Estate Difference!

Chesan

CHESAN APARTMENTS are elegantly designed 3 bedroom luxury apartments located in Kileleshwa along Gatundu Road. It comprises of 56 units within an acre of land.

APARTMENTS

KILELESHWA

3 Bedroom master en suite with SQ

Price:

Starting at

Ksh. 16 M

4 Floor, Nginyo Towers, Koinange St. Tel: 020 222 5338, 0735 126 839, 0726 790 685, 0728 992 531 P.O Box 19018-00100, Nairobi Email: info@lionsproperties.co.ke Website: www.lionsproperties.co.ke

LIST YOUR PROPERTY HERE FOR ONLY TSHS 30,000/= VAT EXCL.

CLASSIFIEDS

SALE 100,000,000/=

CEN T CIT Y

2 Bedroom Apartments Parking, Generator, Security affordable price. +255 715 000 642

MA SAK I

MB WE N

MO RO GO RO

MA MLSAK AN I DIZ

RENT

RENT $6000 Vat Inc.

4 bedroom house SALE $84,000 800 square meter 1 min from main road 300 yards from the beach. +255 655 323 286

Plot for sale located at Morogoro CBD - Boma rd surveyed location Plot size 2977 SQM +255 754 310 583 +255 786 088 600

House for rent in Masaki 6 bedrooms, +255 754 526 535

3 Bedroom apartments Fully furnished, Swimming pool, Gym, standby generator, security +255 684 468 468

BON

SIN

ENT R YC

3 bedrooms Apartment, 24hrs, parking space, Standby generator, Gym, Fully furnished +255 652 360 101

CIT

EZI

HEN MIK OC

RENT $ 1500

SALE TSHS 400m

3 Bedroom house Sinza kwa Remmy near The Place Fast Food Restaurant 288 SQM (NEGOTIABLE) +255 767 422 258 BEA CH

Firdos Apartment a modern Building Located Morogoro and Bibi titi Road. Contact 0789 865 933 / 0788440466 ENT ER

Showrooms & warehouses available along the nyere road new complex +255 684 468 468 IA

ERB AY OYS T

SALE $2m

Beach Plot Kigamboni Mbutu (Kichangani) Dar es Salaam Size 3.83 Hectres with title deed. +255 767 422 258

RENT

SALE Tsh 260m

RENT $ 10,000

4 Unfurnished bedrooms at Masaki Haille selassie 0754 526 535

CIT

MIK OC

ERE R

HEN

OA D

4 Bedrooms, 3 self-contained, Servants quarters, parking space and security. 0784 630 182 / 0787 555 911

Oysterbay near goat race grounds, 6 bedroom with bathrooms, fully airconditioned, servant quarter, 0717 520 111/ 0685 441 505

KIG

RENT $5,000

RENT

RENT $1500

3 Apartment in one compound 2 bedrooms self contain. 2 gates Easy access to harbour and city center. +255655323286 Jmmako11@live.com

SAK MA

UPA

KAW

EAC

Town house swimming pool, standby generator, parking, security contanct: +255 684 468 468

Beach plot for sale near Millennium Hotel 100 meters from the ocean with government offer of 35 years 0754 310 137 / 0713 451 395

100 acres located at Bagamoyo town in Sanzale area, at very potential area 0754 310 137 / 0713 451 395

Mbezi Beach - Rainbow, 1 conference room, 2km from the ocean 0652 899 656

RENT

SALE $177,000.

$2,000,000

RENT $ 1500

BA GA MO YO

MB EZ

EAC H

BA GA MO YO ,

simply call 0767 200 202 classifieds@darproperty.net

Shreeji Tower 3 bedroom fully furnished +255 715 000 642

RENT

RENT $650 Newly constructed apartment for rent at mbezi beach, 24 hours security accessible to tarmac road 0777 667 115 / 0715 667 115

LIST YOUR PROPERTY HERE FOR ONLY TSHS 30,000/= VAT EXCL.

CLASSIFIEDS KIG AM BO NI

KI G

KI B AH A

AM B

MIK OC HEN IA

ON I,

simply call 0767 200 202 classifieds@darproperty.net

NO PHOTO

SALE TSHS 6000 Plot for sale at Vikuruti Kibaha for 6000 tzs per sqm, these plots are for sale for government employees only. with Tittle Deed. ONLY NO AGENTS PLEASE 0769 115 502 KIN ON DO NI

MO RO GO RO

MB MLEZ ANI BE DIZ AC I H

SALE TSHS 9,000 Plot for sale at Kigamboni Tundwi Songani near Buyuni Beach, size range 400-3500 sqm with Tittle Deed. NO AGENTS PLEASE 0769 115 502

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 MA SAK I

RENT $ 1500

3 bedrooms Apartment, 24hrs, parking space, Standby generator, Gym, Fully furnished +255 652 360 101

NO PHOTO

RENT $650 Newly constructed apartment for rent at mbezi beach, 24 hours security accessible to tarmac road 0777 667 115/ 0715 667 115

SALE 100,000,000/= Plot for sale located at Morogoro CBD Boma road surveyed location Plot size 2977 SQM +255 754 310 583 +255 786 088 600

RENT $6000 Vat Inc.

SALE TSHS 120m

Plot size 1985 SQM +255 766 888 333 +255 716 444 888 +255 766 100 100

RENT $ 1500

3 bedrooms Apartment, 24hrs, parking space, Standby generator, Gym, Fully furnished +255 652 360 101

A KIB AH

ASA

BEA

IA HEN MIK OC

MIK OCH

NJU

SALE $200,000 One storey semi finished with 4 self contain bedrooms, 1,475 SQM plot with clean 99 yrs title deed near st consolata complex +255 759 339 495

Beach Plot The area is 35 Acres - Kilwa Masoko +255 784 454 245

SALE $600,000 Petrol station and unfinished business buildings located at mlandizi area in coastal region with ample parking space is for sale or rent at negotiable price 0786 637 992/ 0688 538 804/ 0758 302 686

SALE $2M

KIB AH

KIL WA

ENI

House for rent in Masaki 6 bedrooms, +255 754 526 535

SALE $420,000 Land for sale - Ideal for petrol station or transport / logistics company - 7000 SQM 0787 528745

ILA

IA HEN

KIG

HI UC ND KU

RENT $650 Newly built Restaurant for rent at Kunduchi nearby Silver Sand Hotel & Beach 0653 885 509

RENT $2,500 Fully furnished Villas available in Msasani Beach near Regency Park Hotel +255 715 24 24 25

SALE $52,000 Coastal Region, Tanzania, (Mkuranga) 4.5 acre plot with 100 metres of beach front, 70 km south of Dar es Salaam Louisebozaplot@gmail.com

MIK OC

RENT $ 1500

3 bedrooms Apartment, 24hrs, parking space, Standby generator, Gym, Fully furnished +255 652 360 101

RENT $ 1500

3 bedrooms Apartment, 24hrs, parking space, Standby generator, Gym, Fully furnished +255 652 360 101

RENT $750 5 bedroom house for rent at Ungindoni Kigamboni with large compound, servant quarter and garage 0685 215 737

RENT $18 Dar es salaam, Tanzania, Office Space to Let at Azikiwe Street near NMB Bank. +255 788 440 466 / +255 789 865 933

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

40 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 The Darproperty - November 2015 +255 784 23 89 62, +254 720 35 34 37 | sales@darproperty.net

|41 The Darproperty - August 2015 | 41

PATRONS Publisher

Darproperty Tanzania Editor In Chief

Larson Chumi

editor@darproperty.net

Business Development & Products

Abdallah Mugasa Yusuph Mhando 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

Finance Administration Manager Erick Kessy Public Relation Officer Maria Urassa Accounts Executives Grey Mateni Faraji Senkoro Office Assistant.

Brigita Laurance Regulatory & Legal Advisors

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

ADVERTISERS

INDEX

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PATRON PAGE NO ALEXANDRA....................................................10 ALFRED .............................................................5 AMVERTON.....................................................22 BERGER ............................................................2 CES...................................................................24 CHESAN..........................................................34 CHOKOLE.......................................................25 CRDB BANK......................................................3 DCB BANK......................................................19 FNB BANK.......................................................44 FOOD PLUS....................................................39 IVORY TOWER.............................................1&9 JAMII FORUMS FN.........................................43 KENYA VALUERS.............................................32 LONGONOT GATE........................................20 MASUMIN.........................................................21 MEK ONE............................................................4 MINJA................................................................12 MWANZA.........................................................26 PROLAND.........................................................33 REAL INSURANCE.......................................1&13 REEF.......................................................................8 SAMSA REAL ESTATE.......................................18 SIMBA CEMENT...................................................1 SKYMARK..........................................................29 TANGANYIKA ESTATE AGENT.....................6&7 TBS........................................................................10 THE LUMINARY.....................................................11 UTT.........................................................................27

Disclaimer The Darproperty is published by Darproperty Tanzania Company. All rights reserved. The contents and opinions expressed herein are not necessarily the representation of publisherâ&#x20AC;&#x2122;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.

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