Darproperty oct 2015 by Darproperty Tanzania

Featuring Properties from Tanzania & Kenya

The

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October 2015

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

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Issue No 43 | ISSN 1821-7753

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

The Darproperty - October 2015 | A The Darproperty - August 2015 | 1

2 | The Darproperty - October 2015

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FOR RENT Kigamboni – 3 b/r $ 600 / month

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FOR RENT Mikocheni – 4 b/r $ 2,000 / month

FOR SALE Usa River – 4 b/r $ 25,000

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PARADOX IN CEMENT TANZANIA`S INDUSTRY SEEN.

October 12, 2015 The country’s cement industry is seen to be facing a paradox as supply reportedly exceeds demands while per capita consumption is among the lowest globally. Industrial experts have it that the sector facing production over capacity and is heading to precarious situation when demand does not expand. However, the encouraging news is that the market is there as out of population of 47 million in Tanzania only 4.5 million are cement consumers, according to the Lafarge Tanzania Chief Executive Officer, Ms

14 | The Darproperty - October 2015

Catherine Langreney. She said in Dar es Salaam yesterday that what needed is to create more demand as consumption ‘per capita is still low’ The CEO said the industry is in more danger today than previous as more players are coming in. The country’s consumption is merely at 80 kilograms per person which is very low compared to other economies in the world. In Kenya, for instance, is 120kg while in developing world goes up to 500kg per person. Experts said the low per capita has

positive correlation with GDP growth, since the higher GDP pushes up cement consumption as well. The over capacity has positive effect as cement prices in the market have started to go down in recent days from 17,000/- per 50kg bag of mid 2,000’s to between 12,000/- and 13,000/-. The negative impact is risks for job loss and factory close down. The country had three cement firms up to five years ago, with installed capacity of 4.65 million tonnes annually, but to date there are eight producers. The eighth to come onboard, Nigeria’s

The country had three cement firms up to five years ago, with installed capacity of 4.65 million tonnes annually, but to date there are eight producers.

“

Dangote Cement, which went to production, last week push production capacity to over 6.0 million tonnes annually. The good news in cement industry recently are said to have impact on the two listed companies at Dar es Salaam Stock Exchange (DSE). The two giant manufacturers—Tanzania Portland Cement Company (Twiga Cement) and Tanga Cement Company (Simba Cement)—shares plunged at the time when number of new firms set plants. On the DSE cement manufacturers share prices have depreciated by between 16 and 20 per cent since the beginning of this year. Twiga cement went down by 16.25 per cent to 3,350/- a share while Simba Cement depreciated by 20 per cent to 3,400/-as of last Friday. Brokers have it that the cement’s firms

share drop is seen as the results of shareholders unwilling to invest more on the sector fearing dividends drop as many players are coming up. Tanzania Portland Cement Company (Twiga Cement) last year increased capacity by 700,000 metric tonnesproduction line. While Lafarge Holcim, Mbeya cement, said yesterday will commission 700,000 metric tonnes vertical mill at the end of this month. Though the industry is blossoming, at the same time, cheap imports from the Middle East countries have continued to enter Tanzanian markets. These cheap imports, said Ms Langreney, are creating unfair competition as they benefit from widespread acts of tax evasion through under declaration of prices and volumes delivered into local markets.

Recently Manufactures said through Tanzania Chapter of East African Cement Producers Association (EACPA) that they are now facing collapse due to the continued influx of cheap imported products in an already saturated market. They urged that their situation was being made worse because, they were competing with cheap imports at a time when their margins are squeezed by overcapacity in the market. The industry last year grew by 7.8 per cent, representing 8.6 per cent of GDP with effect across various construction aspects ranging from individual housing, transportation to mega structures. Written by: ABDUEL ELINAZA

The Darproperty - October 2015 | 15 The Darproperty - August 2015 | 15

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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

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1500 Square meters 4 bedroom house included Near main road

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FOR RENT - Bugando

FOR SALE - Ilemela

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3 Bedrooms 3 washrooms Airport view Hot water ample parking 1000 Square Meters Near Hindu Mandal hospital

REAL ESTATE The ABCs of REAL ESTATE MARKET DUE ON SALE CLAUSE a provision in a mortgage that states that the full amount of the loan is due upon the sale of the property. Example: Collins owes on a $200,000 mortgage loan against her house at an 8% interest rate. She wants to sell the house to a buyer who will assume the mortgage. The lender says that the $200,000 loan is due upon the sale of the house so it cannot be assumed by the buyer. The lender adds that he will waive the due-on-sale provision if the interest rate is escalated to 10% CONDITIONAL SALES CONTRACT a contract for the sale of property stating that the seller retains title until the conditions of the contract have been fulfilled. Example: A contract for deed or a land contact is a conditional sales contract. Until the buyer makes full payment, the seller retains title to the property. EXCLUSIVE (AGENCY) LISTING employment contract giving only one brokerage firm, for a specified time, the right to sell the property and also allowing the owner, acting alone, to sell the property without paying a commission. Example Graham gives Quick sale Realty an exclusive agency listing on her house. If an agent of Quick sale or any other brokerage firm sales the house during the time of the listing, Quick sale is entitles to the commission. If Graham sells the house herself, no commission in earned. HARD SELL aggressive sales practices aimed at pressuring a customer into completing a transaction quickly. Example: The agent was a proponent of the hard sell. Accordingly he tried to give buyer the impression that the home would be available for only a short period, that the deal offered might be withdrawn any time, and that they would not be afforded the opportunity to think over the decision. PRE CLOSING a rehearsal of the Closing whereby instruments are prepared and signed by some or all parties to the contact. Used when closing are expected to be complicated. Example: Preclosing are used when there are many parties to an agreement. This sometimes occurs when there are multiple loans to be arrange and/or multiple buyers or sellers, as when syndicating property or converting an apartment complex to a condominium. PERPETUITY the condition of being never ending. Most states attempt to outlaw perpetuities because of potential problems. A perpetual income stream may cause bankruptcy. A deed that keeps property in a family in perpetuity can cause financial hardship. Example A bank offers to pay a 5% interest rate in perpetuity. A $10,000 deposit should receive $500 annual income for as long as the deposit remains in the account.

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G UA R A N T E E

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

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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.

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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

KENYA: PENSION FUNDS FOR A BIGGER PROPERTY SHARE

ension schemes may in the near future be allowed to invest more than 30 per cent of workers’ savings in property if the sector becomes more liquid through a secondary market, the regulator has said. The Retirement Benefits Authority said it is willing to lift the 30 per cent limit on assets trustees of pension funds can hold in real property - land and buildings. A section of trustees of Kenya’s 469 segregated schemes have been pushing for the cap to be increased, arguing that the sector offered more returns than other asset classes. The Retirement Benefits Regulations favour investment in guaranteed funds, government securities and quoted stocks where the trustees can hold up to 100, 90 and 70 per cent of the assets. They can only invest as much as a third of their assets in property, fixed income and deposits assets. Pension Trustees agitating for the cap on investing in property to be raised have pointed at the huge housing gap of more than 200,000 units for low- and middleincome earners in urban areas as the reason for their clamour. “We are unable to do much [bridging the housing gap] because of that limitation,” Hosea Kili, the chief executive of the giant CPF Financial Services and chairman of the Association of Pension Trustees of Kenya, said. CPF administers the Local

32 | The Darproperty - October 2015

Authorities Pension Trust and three other schemes. The schemes had invested Sh130.39 billion in property as at December 2014 - Sh10.55 billion more than a year earlier - the RBA said in an industry report on August 26. This is 16.54 per cent of the Sh788.15savings by workers held by the pension funds as at the end of last year nearly half of the regulatory cap. “A comparative breach status from December 2013 to date shows the overall comparative breach has continually improved by one per cent over the one year period with only 114 breaches across the different asset classes,” the RBA said. “However, there were changes in the distribution of breaches amongst asset classes with noted increases in the schemes breaching the property asset class.” Kili said while the investment caps in property were good to safeguard against governance malpractices in the past, the Pension Funds are now well regulated. This leaves little room for mismanaging workers’ savings, he argued. “It should be lifted to a higher level, maybe to at least 40 per cent,” he said in an interview. “Eventually it should not even be controlled. It should be left to trustees working with fund managers to decide because, before they make any decision, they have to engage with the

members.” Lazarus Keizi, the RBA manager for research and strategy, said some schemes could have breached the limit were it not for the regulations. State-owned National Social Security Fund and the Kenya Ports Authority Scheme, he said, have in the past shown an increasing appetite for property. “The reason why we have kept the limit at 30 per cent is because real estate is highly illiquid,” he said. “Sometimes, we may require a large amount of money and when it is invested in real estate, it becomes a problem to get it immediately.” Keizi also said the limit on property is cushioning workers’ savings from the risk posed by “controversies and governance issues” that have historically dogged the management of the land sector. He however backed the introduction of Real Estate Investment Trusts and Mortgage-Backed Securities to help unlock more pension funds into property. The products, he said, will provide the liquidity - the ability to quickly dispose off an asset without eroding its fair value - which is needed to pay off workers leaving the schemes. The Capital Markets Authority on October 2 allowed Stanlib Kenya to raise as much as Sh12.5 billion in an income REIT through an initial public offering on the Nairobi Securities Exchange. The offer, set before the end of

“

The schemes had invested Sh130.39 billion in property as at December 2014 - Sh10.55 billion more than a year earlier - the RBA said in an industry report on August 26.

33 | The Darproperty - October 2015

“

November, will be the first in Kenya and the second in Africa after South Africa. The REIT will allow pension schemes to invest in property and exit as they will be traded on the NSE. “We are keenly monitoring how the REIT will go, with a focus on how it is going to be structured,” Keizi said. “Investment in property provides a stable return and a

good portfolio for diversification.” Kenya Commercial Bank, on the other hand, has plans to offer institutional and high net-worth investors a chance to trade in mortgage-backed securities. “We want to be able to take up mortgages in the market and list them in the capital markets,” chief executive Joshua Oigara said last year.

The big-ticket transactions will be done through KCB Capital, the bank’s investment banking subsidiary licensed February last year. Written by: Constant Munda

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.

35 | The Darproperty - October 2015

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

Interview of Mr Henry LOO from Mauritius for the “International Property Masterclass” seminar which will be held on the 12 & 13 Nov 2015 at the Holiday Inn in Dar es Salaam. Brief Background yourself. The course leader is Mr Henry LOO from Mauritius. He is a registered Architect who specialized in Master planning and Property Development and graduated from Marseille, France. He has over 20 years of experience in architecture, project management and the property sector. Mr LOO is a business investor, property developer and financial consultant. He has built a successful architecture practice and property development firm in Mauritius, leading in setting high industry standards of innovation in designing and property development.

completion and property management. Land value creation strategies, from master planning to wealth creation. Financing and joint venture possibilities. Property marketing, advertising campaigns and sales. How to build a passive income, create capital appreciation and make property work for you and your future generation. The training will also provide insights into how institution investors such as pension funds and insurance companies can leverage investment opportunities in Mauritius property market to diversify their investment holdings and create a resilient profitable investment portfolio.

What is “International Property Masterclass” in Tanzania all about? The International Property Masterclass training will aim to accelerate knowledge transfer and experience sharing in the real estate sector. It is the 1st of its kind in Africa and will enable stakeholders to get in depth knowledge and trade secrets of the property development sector, through sharing local and global international experience. Why and how do property developers become richer? What are their secrets? How to become wealthier? How to achieve financial freedom and get continuous income even when retired? Interaction between participants and course leader will be possible through question and answers session and B2B meetings will be held after the training. This 2 day training is followed by a graduation at the end of the Masterclass. The International Property MasterClass will be held in 12 and 13, November at the Holiday Inn Hotel in Dar Es Salaam. This is a unique investment training event designed to help delegates create wealth using land and property.

Who should attend? Land owners looking for value and wealth creation strategies, financing and joint ventures. Investors looking for local and international investment opportunities and partnership. All consultants in the construction industry who seek development opportunities. Property developers willing to broaden horizon of opportunities. Contractors and building materials suppliers. Real estate agents and brokers. Banks and financing institution. Pension and Fund management. Government & Private sector officers linked to the property sector. Everyone who wish to get insights and work in this dynamic sector.

What will the event achieve? Throughout the training, participants will actively explore tools and techniques used throughout the Property investment lifecycle, gaining insight on practical experiences that drive current Real Estate development practices. Introduction to investment and finance will be analyzed. Understanding property investment under its various types. Analysis of property development process from bare land to market analysis, financing, concept design, design development, approvals, marketing, sales, construction,

37 | The Darproperty - October 2015

How do you compare Mauritius Property Market to Tanzania? Mauritius is acclaimed to be a world leading investment destination and ranked 1st in Africa by the World Bank Doing Business 2015. It is also ranked 1st in Africa by the Mo Ibrahim Index of African Governance 2014, and 2nd in Africa for the International Property Rights Index 2014. Its GDP (PPP) per capita is USD 17,716 compared to Tanzania GDP (PPP) per capita which is USD 2,591. Mauritius property market is quite mature and has gone through several development cycles with the development of the various sectors of the property industry such as; industrial parks, hotels, office park, residential developments and recently the Shopping Mall industry. The country offers state of the art infrastructure, a cyber city

and is an up market tourism destination. The government is now heading toward creation of Smart Cities as a future of sustainable urbanization. There are a lot of development opportunities in Tanzania property market. As a world traveler visiting most developed countries like Singapore we can see how Tanzania could be in the next 25 years. The growth of mortgage lending by Tanzania commercial banks clearly sets high pace for modern housing development and new investment opportunities are emerging in sophisticated commercial and industrial real estate. I am particularly in Tanzania to see investment and development opportunities. What are current trends for Global Real Estate investors? Global investors are looking to invest in less developed countries and create a diversified portfolio in various parts of the world. This strategy helps to hedge against inflation in local real estate market and tap relative high, stable cash flow returns offered by frontier markets such as Tanzania. Global diversification also reduces systematic risks that impact real estate markets. The main criteria investors look is security of their investment and stability of the country. They can bring investment funds and technology transfer to Tanzania which can beneficiate through employment creation, value and wealth creation to the locals. Tanzania needs to develop its capital markets to attract overseas capital flows into its property market. In the future Tanzania real estate market needs to be liberalized to allow foreigners to own houses and properties through well designed investment schemes and regulations this will attract global real estate investors to invest in the country as part of portfolio diversification strategy. What International Achievements have you achieved in your career? I have received several international awards as architect and property developer. Honorable Mention for the Master Town Planning of Port Louis City, Mauritius among 34 International participants (Union of International Architecture), in 2004. Award for Advancement of Architecture and Master Planning (International Architects Salon Award, Beijing, China), in 2005. Best Office Development Award (International

Property, UK, London), in 2010. Highly Commended, Architecture Multiple Residence Award (International Property, UK, Dubai), in 2011. Highly Commended, Mixed Use Property Development Award (International Property UK, Dubai), in 2011. I also received several International Leadership recognitions such as the International Star for Leadership Award (Business Initiative Directions, Paris), in 2012. International Diamond Prize Award for Customer Satisfaction (European Society for Quality Research, Rome), in 2012. Award of Excellence in Business Management & Selected as World Leader Business Person for successful leadership and innovation (BIZZ Award, World Confederation of Businesses, Dubai), in 2013

What advise you will you give local investors looking to invest in real estate? Any investor and land owner should get good advice from experienced people. They should make it a MUST to attend this first International Property Masterclass to expand their knowledge horizons and build new investment capabilities. They will be saving costs instead of traveling abroad to attend such international conferences. Real estate is the fastest growing investment asset class in Tanzania that has tremendous potential to create wealth for investors and transform the economy toward the path of middle income country. Do you plan to set up an office in Tanzania and how can people contact you? Yes, we do plan to open a permanent and investment office in Tanzania and we can also bring other strategic investors in the country. We are looking for the right investment opportunities, land owners and local business partners for evaluating investment opportunities into the property sector. I can be contacted on henry@ africainvest8.com. We can help create a wealth value chain from concept design, development, marketing, construction, sourcing of materials and project management. What else are you doing in Tanzania? As a past CEO of a Top 100 company

in Mauritius. I will be also conducting a “Masterclass Management Academy” seminar in Mwanza on the 17 & 18 Nov 2015 for all those who wish to develop their leadership and management skills and capabilities through innovative and practical learning including departmental supervisors, managers, administrative officers, personal assistants. All those who wish to unlock their potential to be able to grow within their organisation and climb the ladder of success. I will then move to Arusha to conduct a “Masterclass Business Academy” seminar on the 20 & 21 Nov 2015. This course will benefit anyone who wishes to improve their entrepreneurship skills to be more effective within their business through innovative and practical learning. Entrepreneurs who need to create their business and enter the market. University Graduates looking forward opening their own business. Business Owners who need to restructure and reinvent their business. Attendees can get more info on www. varsity-school.com to download registration forms or contact info@varsity-school.com. A certificate of attendance will be given to all attendees.

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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 CHINESE PROPERTY AGENT TRANSLATOR Msasani Road, Masaki, English Chinese Translator Dealing with your chinese client sms 0756 50 11 37, giraffe_007@163.com

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.

GIMCO ESTATE AGENCY LTD Samora Ave, NIC Investment Hse, P.O BOX 8382 Dar es salaam Tel +255 22 2120988, Mob +255-784 900041

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

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

PRESTIGE PROPERTIES Phone: +255-713-764-447/ 0767471293 Tel:+255-22-266-4373 Email:info@prestigeproperties.co.tz www.prestigeproperties.co.tz

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 MY BEACH Old Bagamoyo Rd. opp Yuasa auto impex P.O BOX 105200. Dar es Salaam Tel; +255 22 2701710

ARUSHA 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

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

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

Real Estate Agents Directory in Kenya AXIS REAL ESTATE 48209 Nairobi Kenya 0727 572836, 0713 908 406 kv@kenyavaluers.com, www.kenyavaluers.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

ARK CONSULTANTS LTD No. 16 Nas Apartments, Milimani Road P.O. Box 42093, 00100, Tel: +254 20 2726870 www.arkconsultantsltd.com

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 HASS CONSULT LTD ABC Place, 1st Floor, P.O. Box 14090, Nairobi Tel: +254 20 4446914, www.hassconsult.co.ke

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

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COMING SOON RWANDA REAL ESTATE AGENCY DIRECTORY

What it is and how it works.

EIT is a Real Estate Company which owns, develops or manages different types of properties. REITs are investment instruments that source funds to build or acquire real estate assets which they sell or rent to generate income. The income generated is distributed to the shareholders at the end of a financial year. REITs are investment vehicle in which investors purchase certificates of ownership in the trust, which in turn invests the money in real property and then distributes any profits to the investors. The trust is not subject to corporate income tax as long as it complies with the tax requirements for a REIT. One of the advantages of Real Estate Investment Trusts is that they are exempted from double taxation, REITs schemes are exempt from corporate tax and are also exempted from income tax except for the payment of withholding tax on interest income and dividends, REITs also provide an effective way for professional investment managers to manage their

45 | The Darproperty - October 2015

real estate investments and a meaningful way to reduce the risks of illiquidity. REITs are traded like stocks and investors can buy and sell shares and are regulated by the Capital Markets Authority (CMA) of Kenya and The Capital Markets and Securities Authority (CMSA) of Tanzania To enable smooth capital raising through REITs, the Capital Market Regulator in Tanzania has put up the regulatory framework (Real Estates Investment Trust Rules of 2011), this legal framework provides rules for eligibility, responsibility and operationalization of REITs. Property developers may use REITs to facilitate in enabling investors to invest and have ownership in the vibrant real estate industry and also to enable real estate developers to access more efficient, effective and less costly public funding for speedier development of properties. Usually affordable houses in any economy is the results of availability of less costly funding hence lower cost for real estate properties. Housing Finance Ltd, KCB and Cooperative Bank Ltd are the banks with Reit trustee licenses while Centum, UAP,

Fusion, UAP, CIC and Stanlib have Reits management licenses in Kenya. Where by Trustees act as the custodians for the REIT unit holders by making sure the REIT manager invests carefully in exchange for a fee. In Tanzania, The Capital Markets and Securities Authority (CMSA) has been approved the Watumishi Housing Company to act as a Real Estate Investment Trust (WHC-REIT) As a result of public market liquidity REITs and listed real estate equities have become the most efficient and accessible way for investors and investment managers to invest in real estate. REITs give all people the opportunity to invest in income-producing real estate without owning the actual properties. Development of REITs in East African countries will make real estate investing easy and efficient. Prepared by: Yussuph Mhando yusuph@darproperty.net

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

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PATRON PAGE NO ALEXANDRA....................................................10 AMVERTON......................................................22 AVIC.....................................................................5

Boniface Metta

BERGER ...............................................................2

Online Content Manager

CES......................................................................32

Mbwana Mbura

Public Relation Officer Maria Urassa mary@darproperty.net

Accounts Executives Grey Mateni Moreen Mrema Faraji Senkoro Office Assistant.

CHESAN..............................................................30 CHOKOLE...........................................................28 CRDB BANK..........................................................3 DAVIS N SHIRTLIFF..............................................26 DCB BANK...........................................................17 EVANS...................................................................18 FNB BANK............................................................44

Brigita Laurance

FOOD PLUS.........................................................39

Regulatory & Legal Advisors

HENRY LOO.........................................................36

ABC Attorneys

IVORY TOWER......................................................9

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

JAMII FORUMS FN.............................................43

Distribution Should you have problems in obtaining copies of DarProperty Magazine, please contact

MINJA...................................................................34

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KENYA VALUERS.................................................29 LONGONOT GATE............................................23 MEK ONE ...............................................................4 MWANZA.............................................................24 PROLAND.............................................................30

For Comments, Complains & Compliments pr@darproperty.net

REAL INSURANCE...........................................1&19

Country Director - Kenya

REMAX..................................................................21

Xavier Nanchengwa

REEF..........................................................................8 RIWA MAREALE .................................................30 SAMSA REAL ESTATE.........................................16

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.

SIMBA CEMENT.....................................................1 SKYMARK............................................................38 TANGANYIKA ESTATE AGENT......................6&7 TBS.........................................................................33 TEMEKE PLAZA.....................................................11 THE LUMINARY................................................1&13

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