The
October 2014
Featuring Properties from Tanzania & Kenya
www.darproperty.co.tz
East Africa’s Ultimate Property Guide
FREE COPY
Issue No 32 | ISSN 1821-7753
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r details
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Coming Soon in Dar
Publisher
AVAILABLE FROM:
Darproperty Tanzania Editor In Chief
Larson Chumi
editor@darproperty.net
Zanzibar
Dar Es Salaam
Slipway J. D. Pharmacies Airport Terminal 2 All Shopping Malls Village Supermarket NHC - Head Quarter Scholastica Book Shops All Novel Idea Book Shops Premium Super Markets Bundu Shop - Southern Sun Oysterbay Shopping Center Nakiete Pharmacy - Mwenge Home Shopping Center Renowned Hotels & Offices Tanzania Investment Center (TIC) All Major Real Estate Agents
Chavda Hotel Dhow Palace Beyt al Chai Hotel Zanzibar Coffee House Mtoni Marine Hotel Zanzibar Café Stone Town Café Diplomatic Supermarket Tembo House Hotel Maru Maru Hotel Zanzibar Serena Hotel
Arusha
Nairobi
Mt Meru Hotel Ngurdoto Hotel Kibo Palace Hotel Impala Hotel Naura Spring Hotel Themi Suites Njiro Complex TFA Complex New Arusha Hotel Naazi Hotel Barista Cafe All Major Banks Woolworth Stores JJ black Stores Snow Crest Hotel Smart Choice Supermarkets Shoprite Supermarket
Business Development & Products
Abdallah Mugasa Designs & Layouts
Alan Peter Dennis Maunga
dennis@darproperty.net
Marketing & Sales
Michael Francis
michael@darproperty.net
Distribution
Boniface Metta Online Content Manager
Mbwana Mbura
Key Accounts Manager Brenda Ndashuka Finance & Administration Manager Erick Kessy
Sarova Stanley Hotel Nairobi Serena Hotel Sarit Centre Thika Road Mall Oil Libya Java Lounge Cafes Village Market Junction Mall Kempinski Hotel Hilton Hotel Mega Mall Real estate agent Offices Renowned Restaurants
Accounts Executives Grey Mateni Faraji Senkoro Classifieds Adverts George Claus 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
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The Darproperty is published by Darproperty Tanzania Company. All rights reserved. The contents and opinions expressed herein are not necessarily the representation of publisher’s view. All material published is deemed to originate from the author and will not accept any liability whatsoever in respect that have been sourced from contributors. Users are required to make their own judgement on the details contained in each advertisment. While every caution is taken in compiling the contents of this magazine, the publisher will not accept any liability for the effects arising thereof. No part of this publication will be reproduced with out written consent from Darproperty Tanzania Company.
The DarProperty March 42 The DarProperty September 2013
- April 2012
COMING SOON
Shati House, behind Exim Bank - Clock Tower Plot No. 58, Block E Sokoine road, Arusha +255 754 337 899 +255 786 337 899 info@arushahomes.com
For rent | 200,000 / month
2 Bedroom House - Chama - Tengeru
For rent | $750 / month
4 Bedroom House - Ngulelo
For rent | $350 / month
For rent | 250,000 / month
2 Bedroom House -Tanesco - Njiro
For sale | $ 73,000
Block D - Njiro
For rent | $1250 / month
Plot for sale | $65,000 Negotiable
4 bedroom House - Njiro Block C Fully Furnished All Ensuite
1272 sqm - Njiro Msola
For rent | $1560 per month
2 bedromom House - Themi Hill - NJiro Godown - 520 Sqm - Njiro Industrial Area
For rent | $550 / month
4 bedroom House - Azimio Sakina
For more properties visit: www.arushahomes.com
”Tanz ani a´ sl eadi ngl and& pr oper t ya gent ” www. t z agent s . com DaresSa l a a m
Pr oper t yi mg
Pr oper t yi mg
Pr oper t yi mg
Pr oper t yi mg
FOR RENT Mikocheni - offices USD 15 / sqm / month
FOR RENT Masaki – studios, 1 & 2 b/r Starting at USD 1,400
FOR RENT Bagamoyo Road - offices USD 18 / sqm / month
FOR RENT Masaki 4 b/r USD 5,700 / month
Ar us ha
Pr oper t yi mg
FOR RENT Njiro - commercial USD 2,000 / month
Pr oper t yi mg
Pr oper t yi mg
Pr oper t yi mg
FOR RENT Snow Crest – 5 b/r USD 600 / month
FOR RENT Themi – 4 b/r USD 400 / month
FOR RENT Offices – Nairobi Road USD 9 / sqm / month
Tanga/Pangani
Pr oper t yi mg
FOR SALE Lodge – Ushongo Beach USD 295,000
Pr oper t yi mg
Pr oper t yi mg
Pr oper t yi mg
FOR SALE Pangani – Hotel Plot USD 150,000
FOR SALE Pangani – beach front USD 350,000
FOR SALE Pangani – beach front USD 200,000
Cont a c t s Da re sSa l a a m
Raphael Nondi
Manager Dar es Salaam Tel. +255 717 032 633 raphael.nondi@tzagents.com
Ar us ha
Anders Wehtje
Founder Tel. +255 785 984 467 anders.wehtje@tzagents.com
Tanga/Pangani
Annabel Burdes
Representative Tanga / Pangani Tel. +255 784 632 529 annabel.burdes@tzagents.com
Pr oper t yoft hemont h! LodgePangani-USD995, 000
PHOTO
PHOTO
PHOTO
PHOTO
Thi supma r ke tl ux ur yt e nt e dl odgei si napr i mel oc a t i onont hec oa s tj us tnor t hof Pa nga ni . Pe r c he dona20me t r ehi ghc l i f fov e r l ooki ngMkomaBa y , i tha sas t unni ng Robi ns onCr us oe s t y l ebe a c h–t heonl yf oot pr i nt sy ou´ r el i ke l yt os e ea r ey ourown…. Thel odgec ont a i ns ;s e v e ne l e ga nt l ya ppoi nt e dt e nt sonr a i s e dpl a t f or ms , t wone w s pa c i oust e nt spe r f e c tf orf a mi l i esc onne c t e dbyas t onepa t i o, a na ut he nt i cSwa hi l i s t y l ehous ef orl a r ge rgr oups , s wi mmi ngpoola ndba ra r e a , c onf e r e nc ef a ci l i t i e s , bor e hol ewa t e ra ndge ne r a t orba c kup. The r ei sf ur t he rama na ge r shous ewi t h2 be dr ooms–oneofwhi c hha sas pe c t a c ul a roc e a nv i e w, t wos t a f fhous e s–bot hwi t h t wobe dr oomsa ndt woba t hr oomsa nddr i v e r sa c c ommoda t i on. Lov i ngl yt e ndedand l a nds c a pe ds e t t i ngwi t hnume r ousf e a t ur e sa ndupgr a de s .
SAPPHIRE
NOW RENTING
HEIGHTS
Sapphire Heights is a newly developed residential building located in prime area of Masaki, conveniently situated on Haile Selassie.The property offers fully furnished luxurious and spacious 3 bedroom apartments, with amenities including:Parking, GYM, Swimming pool, Standby Generator, and24 hour security.The propertyislocated within close proximity to colosseum Gym, Sea Cliff Hotel, Supermarkets and Restaurants.
For rental enquiries please contact: Cell: +255 (0) 689 578 785 Email: md@nevadaproperties.co.tz
OTHER PROPERTIES FOR RENT IN MASAKI
SEA PRINCESS APARTMENTS
DAYS INN APARTMENTS
COMMERCIAL/OFFICES SPACE FOR LEASE IN PRIME MIKOCHENI AREA, DAR ES SALAAM Ideal For Corporate, International Organization, Health Center, Bank or for Showroom
- Total Space available upto 1700 sq.mts - Ample Car Parking Space STARTING FROM - 24 Hours Security Service $15/Sq.M - Standby Generator
Construction to be completed by September, 2014 For More Information: Contact Tel: 0658 786426 / 0759 740375
E-mail: huntleysplaza@gmail.com
FEATURES: ! Ocean views ! Private beach* ! Swimming pool ! Modern kitchen appliances ! Fully equipped gym ! Air conditioning ! Standby generator ! Elevator 24hrs ! Ample parking ! DSTv connection ! High-end security & CCTV cameras ! 24 hour Management service LOCATION: Old Bagamoyo Road, Plot 389/1, 389/2 (opposite JKT) Plot 77B/2 (near Msasani Beach Club)
�����������������������
CONTACT: reefaptms@gmail.com oceanwaveaptms@gmail.com *
Ocean Wave Apartments
Sanitary ware. How to tell the good from the not so good.
Pottery, also known as sanitary ware, ceramics, porcelain and ware. The first question I had when I started selling pottery was how do you know which is good and which isn't so good? All the companies say they are the best! Well, like anything you buy, the quality is down to how long you want to use it for, how many times you use it, what you want to pay for it, and how you want it to look. Let me explain
have to apply it a layer at a time and each time fire it in the kiln. This process results in breakages within the kiln.
Quality of the clay. The quality of the clay that is used to make pottery is very important. The reason for this is that the finer the clay the smoother the finish will be on the item being made. If you use a poorer grade of clay it will have more grit in it and the surface will have a more rippled appearance. You may also find that because of the increased There are four basic areas that affect the grit content the pottery is heavier than an item quality of pottery and its expected lifespan: of the same size made with a finer grade of clay. The finer the clay the more tonnes of The depth of the glaze. The glaze is the glass-like surface coating which rough clay you have to use to refine down to make it. It is therefore less expensive to is fired onto the pottery in the kiln when it is made. The glass enables the pot to be water- produce pottery with a coarse grade of clay. proof and protects it from chemicals, such as bleach etc. over its life. The thicker the glaze The overspray (or colour). generally the longer the life. Once this glaze The white colour, or whatever colour it happens goes, wears out, the pot becomes porous, absorbs water and eventually cracks. The more to be, is applied to the pottery before the glaze. Each manufacturer mixes their own you use and clean the pottery the faster the glaze wears out. To make the glaze thicker you colour to try to match it to the colour of the
acrylic bath. The white colour of the acrylic bath is a worldwide standard set by the acrylic manufacturers. You need to be aware of this if you wish to mix and match pottery from different manufacturers. It is usually acceptable to have a toilet and basin from one supplier made to match the bath but if you put a basin from one supplier and a toilet from another and then the bath together it will stand out like a sore thumb. The thicker the colour is applied, the less fading on the edges takes place and the colour is even over the whole item. The colour as with the glaze is applied in layers and then has to be left to set before the next coat can be applied. The fewer coats the quicker the product can be made and the less cost is involved. The design of the item. The more intricate the design the more expensive the mould is to make and the more chance there is that you will not always remove it from the mould without damage. Plainer
shapes are usually less expensive. You should also note that basins, toilets and bidets are made as matched sets. You will often find that the foot of the pedestal on the basin matches the foot of the toilet pan and that the back of the basin matches the toilet cistern lid. One general point to be made is that pottery is often sold in what is known as a four piece set. That is basin, pedestal, pan and cistern. Most buyers see the set as two pieces, the basin and toilet, and believe the term four piece set refers to basin, toilet, bath and bidet. If you are unsure as to what is meant when the term four piece set is used, ask for clarification.
At Kafkas group, we provide free consultation on matters regarding the pottery, we also stock a range of the materials for all budgets. Our company is a proud dealer for the world`s top brands on sanitary ware such as Vitra, Geberit,Artema, Duravit, and Hansgrohe.
Bahadir Baran. General Manager Kafkas Group.
Coming Soon in Dar
Renaissance Plaza is an upcoming commercial building located in the prime area of Masaki, conveniently situated on Haile Selaise Road, Masaki. Renaissance Plaza is the ideal location for your new office. It is in close proximity to colosseum Gym, Supermarkets and Restaurants.
The modern executive offices and spacious shops have completed ceilings and floors, as well as Central Air-conditioning system. We offer Space for Rent for Offices, Shops, Restaurants and Supermarkets.
For rental enquiries please contact +255 (0) 689 578 785
md@nevadaproperties.co.tz
We are your pathway to Real Estate management. Selling, Buying, Managing properties, Rentals and Leasing of: - Residential - Commercial - Plots and Lands
PLOTS FOR SALE -BAHARI BEACH, 4919 SQM, WITH TITLE, $330,000 - KIGAMBONI MWASONGA, NOT SURVEYED, $2,000 / ACRE FOR SALE 5 B/R ALL SELF IN MBEZI BEACH-AFRICANA 1500 SQM, $520,000
VILLAS FOR RENT 3 B/R MBEZI BEACH OLD BAGAMOYO RD. $3,000
FOR SALE 23 ACRES BEACH PLOT IN KIGAMBONI MBUTU $40,000 / ACRE.
-MBEZI BEACH, 2300 SQM, WITH TWO APARTMENTS, WTH TITLE, $700,000
PLOTS FOR SALE -WAZO-TEGETA, 6.5 ACRES, WITH TITLE, $1,000,000 - MBWENI MALINDI, 915 SQM, WITH TITLE, $50,000,000 FOR SALE 6.5 ACRE LAND IN TABATA. 8 BUILDINGS, $800,000
30 APARTMENTS FOR RENT, MBEZI BEACH TANK BOVU. 1 B/R -$400, 2 B/R-$600, 3 B/R -$700,
-MBWENI MALINDI, 870 SQM, WITH TITLE, $45,000,000
PLOTS FOR SALE
PLOTS FOR SALE
-MNARA WA VODA MBEZI BEACH, 3699 SQM, WITH TITLE, $350,000,000
-KUNDUCHI BEACH; 1900 SQM, $120,000 - RUVU, 100 ACRES, WITH TITLE, $250,000
- MBEZI BEACH, 2000 SQM, WITH TITLE, $200,000 -MBEZI BEACH, 2220 SQM, WITH TITLE, $300,000
FOR RENT 3 B/R APARTMENT, MIKOCHENI “A/”. $2000 / MONTH.
FOR SALE, 3340 SQM PLOT MBEZI BEACH AFRICANA $550,000
4 B/R HOUSE MIKOCHENI KWA MAWAZIRI, SALE: $900,000 RENT: $2300 / MONTH.
FOR SALE 17 ACRES IN BUNJU “B” $ 375,000
PLOTS FOR SALE
PLOTS FOR SALE
-BUNJU “A” PER M2 - TSH 16,000
-UNUNIO TEGETA - 2400M2 $ 125,000
-GOBA MTAMBANI PER M2 TSH 15,000
-MBEZI BEACH - 4500 M2 FACING BAGAMOYO RD, $1M
-GEZAULOLE KIGAMBONI PER M2 - TSH 16,000
-REGENT ESTATE - 1900 M2, $1.1M
-MBEZI BEACH TANK BOVU 1600M2 $ 95,000
-MASAKI HAILE SELASSIE 1800 M2, $2.5M
*All properties are negotiable
-CHANG’OMBE, 2467 SQM, WITH TITLE, $800,000
HOUSE FOR RENT, MBEZI BEACH 7B/R, 5 BATHS. $1500 / MONTH
CONTACT US: Mobile: +255 755 181 222 / +255 655 181 222 Website: www.bryanstonproperties.co.tz Email: info@bryanstonproperties.co.tz Located at: Samaki, Nangela Plaza - Mbezi Beach
Please visit our website for more updated listings uploaded daily (over 200 listings available for your perusal)
REAL ESTATE The ABCs of REAL ESTATE MARKET Opinion of title A certificate, generally from an attorney, as to the validity of title to property being sold. Example: Based upon the attorney’s opinion of title, the title insurance company insured title to the property. Market analysis A study of the supply and demand conditions in a specific area for a specific type of property or service. A market analysis report is generally prepared by someone with experience in real estate, economic, or marketing. It serves to help decide what type of project to develop and is also helpful in arranging permanent and construction financing for a proposed development. Example: The developer commissioned a market analysis to evaluate the need for luxury apartments in the Mikocheni suburban market. Copies of the report were supplied to prospective lenders for this type of development Kick-out clause A provision in a sales contract that allows the seller to void the agreement if a better offer is received before the sale is closed. Example: When the Always put their home on the market, they received a lowball offer from the Fenders. Not knowing how well the home would sell, they accepted the offer but retained the right to entertain higher bids that might come in before the sale closed. To formalize the agreement, a kick-out clause was inserted into the contract. Express agency A clear and explicit relationship between an agent and a principal, in the form of either a written contract or an oral understanding, Contract with implied agency. Example: Martha is diligent in explaining her responsibilities and the obligations of her client, as well as disclosing whose interest she represents when signing someone to a listing contract. She wants to make sure the relationship is one of express agency.
DAR ES SALAAM:22 2112515/6 • KARIAKOO:22 2184867 ARUSHA:27 2547317/8 • ZANZIBAR:24 2234660/1 • MWANZA:28 2541971/2
www.dayliff.com
A KENYAN NATIONAL INVESTING IN REAL ESTATE IN TANZANIA Q: Hello guys at ABC Attorneys, my name is Ochieng from Nairobi in Kenya. I have visited Tanzania once or twice and it seems there is a lot of opportunities in this sector. I wish to come and invest, if I decide so as a Kenyan can I own land in Tanzania? BM, Dar es salaam, Tanzania A: Greetings Ochieng, well unfortunately, under the laws of Tanzania, a foreigner cannot own land, unlike in other jurisdictions. The only way a foreigner can own land is by investing. In Tanzania, however such right to the land will be a derivative nature as opposed to a right of occupancy whereas, the Tanzania Investment Centre holds the land in stewardship for the foreigner. In other words a derivative right is a right that arises from a right of occupancy. The right of occupancy creates the derivative right. In order for a foreigner to obtain this derivative right, there are a number of stages that need to be completed by the foreign entity. If the land is registered land, then the foreigner would follow various steps such as on site verification, vendors disclosure, conduct official search, valuation report, sale agreement and many others .However
a foreigner cannot purchase land as an individual, but though an entity which will purchase the land. In terms of the transfer of title, the name will be of the Tanzanian Investment Centre and not that of the foreigner’s entity. But before such transfer is completed the entity should acquire among other things a certificate of incentives from the Tanzania Investment Centre. CONVEYANCING PROCESS TAKING LONGER Q: Hi I want to buy a plot but I can see conveyancing process takes a lot of time and I am afraid that the seller may sell the property to somebody else who has a good offer. What should I do to protect my interest? Asha, Arusha A: A very good question Asha and it is very fortunate that we face such situation almost every day. Well, you can protect your interests by entering into lockout agreements with the seller. Lock out agreements are those agreements between the property seller and a buyer granting the buyer exclusive rights to sale of the property for a certain period of time. Essentially, a lockout agreement is a contract stating that you’ll have a contract
at a later time which is the contract for the actual sale. It is generally used for buyer protection though in some cases, the seller may stand to benefit from such agreements as well. Lock out agreement are usually used by buyers, they gives them a sense of security that no one will be able to buy a property while in the process of conveyance. After all it does prevent the seller from entertaining any more enquiries. This is particularly desirable because the process of conveyancing takes quite a longtime. Thus, the transfer and processing period of up to 3 months is quite a longtime and it creates a market that is ripe for the practice of Gazumping. Gazumping is when the seller suddenly raises the asking price for the property at last possible moment, this means that the buyer has to accept the new price or pullout of the deal). So imagine if within 3 months period, a seller receives a much higher offer from a second buyer while conveyancing is going on and decides to sell to the second instead and it can quite be possible to a 3rd buyer or more. Hence lockouts agreement attempts to provide some degree of surety to the buyer by preventing the seller from entertaining other offers during the period covered in the lockouts agreements.
DISPOSING LAND TO YOURSELF Q: Hello my name is Amyn, I would like to ask if a person can make a disposition to himself and if that disposition is enforceable like any other disposition made to another person? A: Of course yes Amyn, it is possible for a person to make disposition to himself. It is provided under section 65 of the land act cap 113 R.E 2002 that, for the avoidance of doubt it is herby declared that any person may make a disposition to himself and any other person or together with any other person to himself alone and the sale, assignment or disposition made to himself is enforceable in the same manner as a sale, assignment or disposition to another person. LENGTH OF RIGHT OF OCCUPANCY Q: Hello my name Gabriella, I would like to ask if the length of term of a right of occupancy is the same to all holders of right of Occupancy. And is it alright for a holder under the right of occupancy to change land use? A: The length term of a right of occupancy is NOT the same to all holders of right of
occupancy. It is provided under section 32 of the Land Act CAP 113 R.E 2002 that, a right of occupancy may be granted in different length of terms, firstly it may be for a term up to but not exceeding ninety nine years, secondly for a term together with an option for a further term or terms which together with the original term may be up to but not exceeding ninety nine years and thirdly is a term from year to year or for periods of less than a year determinable by the commissioner by one year’s notice or less, whether or not the grants includes an initial fixed term, so long as that initial fixed term does not exceed four years. NOTE; However where the right of occupancy has been granted for a certain term with or without an option for a further tem or terms then no reduction in the length of that certain term shall be made to or introduced into that right of occupancy by the commissioner without the agreement of the occupier. ALSO, An occupier of land under a right of occupancy is allowed to change use of his/ her land as provided under section 35 of Land Act CAP 113 R.E 2002. The occupier should apply to the commissioner for a change or variation to the conditions of the right of occupancy so as to enable him to
undertake development on or a use of that land or a disposal of the whole or a part of that land in connection with a development on or a use of that land which is not permitted by the conditions subject to which the right of occupancy was granted.
Please do send us your question to: abcattorneystz@gmail.com/info@ abcattorneys.co.tz ABC ATTORNEYS. IT PLAZA, 8th FLOOR, OHIO STREET P.O.BOX 105722, DAR-ES-SALAAM - TANZANIA (EA) Tel: +255222110236/0713055195/ 0786624901 For more information, you can also read other articles online at www.abcattorneys.co.tz
HOUSE FOR SALE Njiro, Arusha
Tsh. 500M
5 Bedrooms
Fully furnished
0682 005 395
Electric fence
Darproperty Mortgage is a mortgage brokerage services offered by DarProperty Tanzania. The service is offered in partership with Local and International mortgage lenders, to ensure seamless process from the mortgage Loan application to closing.
For Details Contact finance@darproperty.net
LIST YOUR PROPERTY HERE FOR ONLY TSHS 30,000/= VAT EXCL.
CLASSIFIEDS
RENT $650
RENT 1,000 3 bedrooms house, servant quarter, garage has aluminium doors and windows suitable for an office. 0713 228931
sale 800m
mb we ni
3 bedroom detached house Minutes from Nakumatt Shopping Mall 0783 063005
RENT 800,000/=
3 Bedroom house, 2 Bathrooms, a servant quarter, a simple nice garden. 0783 989 118 ubu ngo kib ang u
kig am bon i
SALE Visiga - Kibaha Has Title Deed No.78310 8,907= SQM 0756 359529/0754 366531 0754 013550/ 0767 010854
mw eng e
gez aul ole
636SQM Gezaulole Temeke Municipality, 0715913814 / 0784913814
SALE
Visiga - Kibaha Has Title Deed No.78280 12,200/= SQM 0756 359529/0754 366531 0754 013550/ 0767 010854
SALE 12,000/=Tsh/m2 Plots for sale at Kigamboni, mwasonga-kichangani, 25km from ferry. (price are negotiable. ada est ate -ar ush a
mik och eni B
kib aha vis iga
Over 14 plots available at Mbagala Charambe
RENT $1,500
4 Bedrooms, 4 Bathrooms, Fully Furnished Flat, Sea Breeze Near White Sands Africana 0787 277130
SALE $50,000 3 Bedrooms , Dinning, Kitchen 3500sqm, 2 km from Morogoro road. 0759 33 94 95 kib aha vis iga
ubu ngo
mb aga la
joint venture
SALE 700m
SALE 15m
0754 /0715 - 814780
SALE 100m
1 one acre, Ideal for petrol station 0715/0784 281851
3 Acres - Ubungo Msewe 0718 568 482/ 0758 325 491
3 Bedrooms, 2 Bathrooms, Garage, Ac, 4000 litres water tank. 0654 062 835/ 0654 062 984
sale AREA: 2400 SQM
aru sha sak ina
kis ara we
mik och eni B
RENT $1000 3 Bedrooms, 3 Bathrooms, , AC , Kitchen, Ample Parking, Garden. 0754 321 712/0766 666 565
mb ezi bea ch
teg eta
RENT $1000
3 Bedrooms, 2 Bathrooms RENT & SALE. Fully furnished, Balcony, Ample Car Parking, Master Bedroom 0653 672 333/028 2500 565
SALE 150,000 3 Bedroom, 2 Bathrooms behind Mzee wa Upako Church 0657 376496
gob a- d sm
RENT $2500
Sea view full furnished Apartments Masaki near sea cliff village Mall. generator, elevator and gym. +255 712 358 042
mbe zi k wa msu gur i
ma sak i
mw anz a
simply call 0767 200 202 classifieds@darproperty.net
RENT 150m 3 bedroom and An auxiliary building, servant quarters 0786259854/0767259854
RENT $2,200 Four bedrooms, next to St . Joseph millennium secondary school 0767264900
c hok ol e
investment limited T h e Ult i m at e O u t d o or S ol u t i on s
Mikocheni, Garden Road, Dar es Salaam, Tanzania. +255 786 924373, +255 658 924 373
PROFESSIONAL Designers & Installers of: Car Shades, Gazebo Electrical Gates & Umbrellas
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G UA R A N T E E
32 The DarProperty August 2014
in
NAIROBI
BOOK YOUR SPACE NOW: NAIROBI +254 728 99 25 31 +254 720 35 34 37
TANZANIA +255 784 23 89 62 +255 688 75 18 68
Kenya’s Housing Finance to open branches in EAC by 2016
NAIROBI Kenya’s mortgage lender Housing Finance Group plans to open more branches in the other East Africa Community (EAC) Member states by end of 2016. The firm’s Managing Director Frank Ireri (Pictured) told Xinhua in Nairobi that the East Africa Community has a huge housing deficit. We are planning on venturing into the other East African nations depending on the opportunities so as help bridge the housing deficit,,” Ireri said when the firm announced
its financial results for the 2013. Currently, the firm only has branches in Kenya. The firm’s profit after tax grew by 33 percent as it jumped from 8.6 million U. S dollars in 2012 to 11.53 million dollars. The group’s profit before tax grew to 17.1 million dollars up from 10.5 million dollar, a 63percent increase. “The key driver of the growth was increased income from our subsidiaries” Ireri said Subsidiaries including the Kenya building Society and the housing finance Insurance agency contributed 18 percent of the profit
in the financial year. This is in sharp contrast to 2012 when they contributed only one percent of income. “The target is that they contributed at least 30 percent of the profit by 2016” he said. Ireri said that the performance in 2013 was affected by the general elections. “The anxiety around the elections affected investments in the first half of 2013,” he said “However the business benefited from the stable interest rates,” he said.
Housing
“We are planning on venturing into the other East African nations depending on the opportunities so as help bridge the housing deficit,,”
The MD noted that Housing finance hopes to achieve business growth through increased footprint and service delivery that will be powered by appropriate channels. He added that the firm will also enter into joint ventures with county development authorities, “we also hope to take advantage of the property opportunities that will be create in the oil, gas and mining sectors,” he said. The firm also plans to accelerate market research in alternative building technology. “This will help in the development of more low income housing units where demand is greatest,” he said According to the 2013 financial results, the group’s borrowed funds increase from 139 million dollars to 166 million dollars primarily due to loans from international firms. “We received 20 million dollars from the
international finance Corporation and 8.3 million dollars from the Ghana International Bank,” Ireri said. The Capital Market Authority also approved a 231 million dollars Medium Term Notes in 2013. We are currently studying the market with a view to determining when to take the bond to market,” he said. Housing Finance has a 30 percent market share on the mortgage market and was responsible for approximately 20 percent of all credit lent to the property sector. Housing Finance Business Operations Director Timothy Gitonga said his firm will continue to focus on new business lines in order to deliver sustained future growth. “The upgrading to a new core banking system is also on track and we expect the system to go live by mid 2014,” he said. Gitonga said that non-performing loan book increased to 26.2 million dollars up
from 18.6 million dollars due to a change of laws particularly those contained in the new Land Act. “It was also caused by the introduction of Central Bank of Kenya’s prudential guidelines regarding multiple mortgage facilities,” he said In the financial year under review total interest income grew to 63 million dollars from 58 million dollars while interest expenses dropped to 33.3 million dollars up from36 million dollars. The director added that the cost of deposition in 2013 were lower as a result of Central Bank’s decision to keep the benchmark interest rate unchanged for more than two years at 8.5 percent. The directors have declared a dividend of two dollars per share up from 1.6 dollars in 2012 The Guardian Tanzania.
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
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 SKYMARK REALITIES LTD Zanaki st. - Alimanga bldg Tel: +255 22 2 134422/33
HAMPTONS PROPERTIES TZ Haidery plaza - 1st floor upanga/kisutu street P.O.BOX 6547 DARESSALAAM hamptonspropertiestz@gmail.com, a_kito@yahoo.com 0654 204083/ 0784 323133
Tanganyika Estate Agents Village Walk, close to Sea Cliff Hotel +255 717 032 633 info@tzagents.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
40 The DarProperty August 2014
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.
+255 755 181 222 www.bryanstonproperties.co.tz info@bryanstonproperties.co.tz
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
TRELD COMPANY LTD P.O BOX 7656 Dar es Salaam Location Msasani Peninsular off toure drive +255 732 222 888, +255 716 777 999 treldestates@yahoo.com www.treld.co.tz
ARUSHA ARUSHA AWESOME HOMES AND PROPERTIES.
Shanti House, Plot 58 Block E Sokoine Road P. O. Box 249 Arusha, Tanzania. info@arushahomes.com www.arushahomes.com +255 754 337 899 / +255 786 337 899 HOMES & PROPERTY AGENCIES LTD Land Surveyors & Property Managers P. O.Box 10079 Arusha Boma Rd. Arusha 0787 805566 hopraltd@gmail.com TANGANYIKA ESTATE AGENTS
Shoprite Complex, +255 785 984 467 info@tzagents.com ZIPO HOMES
Rivergardens Business Park, Rm 4 P.O Box 20 Usa River, Arusha +255 787 474 580/+ 255 754 320 513 info@zipohomes.com www.zipohomes.com
MWANZA MWANZAESTATE Mwanzaestate.com +255 714 245 779 kisolimorris@hotmail.com
ZANZIBAR Zanzibar - properties.com Tel: +255 774 44 19 07 Hotel Marine - Malindi Zanzibar
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
PLOT FOR SALE KAHAMA Size Appr: 8,000.0 sqm
$350,000.
Neighbourhood: Catholic Diocese Pine Ridge Hotel Official Government Residences Police Line Central Government offices (Boma) Local Government (Halmashauri) NSSF Building
An exciting plot for investment is available for sale. (Plot has an existing three bedroom house with running water, electricity and a standby generator set 15KVA. Location: Nyahanga, an exclusive, up-market sub-urban, apprx. 0.5km from town centre.
0689 077 366 / 0718 985 944 francomlebusi @yahoo.com pmlebusi@yahoo.com
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INDEX
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PATRON PAGE NO ABC ATTORNEY...................................26&27 AFRICAN VILLAGE ESTATE...........................17 AKIBA COMMERCIAL BANK.............18,19 3 ARUSHA AWESOME HOMES...................6 ATIK...............................................................7 AXIS REAL ESTATE KENYA.............1,34,35 BOA BANK TANZANIA................1 20 &21
NAIROBI +254 728 992 531
BRAYNSTONE PROPERTIES....................24 CITY HOMES...............................................37 CHOKOLE................................................32 DAVIS & SHIRTLIF..................................25
DAR ES SALAAM 022 2780517 0784 238 962 / 0713 751 868 sales@darproperty.net
DIPLOMAT HOUSE................................13 EXIM BANK TANZANIA.........................1 GALAXY ESTATE MANAGEMENT..........12 HUNTLEY PLAZA.........................................14 JAMII FORUMS.......................................36 LIFEMATE................................................20 MASUMIN......................................22 MAWENI ECO VILLAGE.............................10
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MLEBUSI.......................................................41 NEVADA GOLDEN COINS........1,5,11,21,43 SPIK N SPAN.....................................................29 STANBIC BANK TANZANIA.................................2
MWANZA 0714 245 779
SISORE TRAVEL.........................................27 TANGANYIKA ESTATE AGENTS.....................8,9 TATU CITY..........................................................15 TBS...............................................................16 TEREX.....................................................................25 VISION FURNITURE............................................23 VITRA..............................................................3&44
DIAMOND PLAZA
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Diamond Plaza is a newly developed commercial building located in the business hub of Dar es Salaam, conveniently situated on Mirambo Street intersecting with Samora Avenue. The modern executive offices and shops have completed ceilings and floors, as well as Central Air-conditioning system. Diamond Plaza is the ideal location for your new office, with the best view. It is in close proximity to Serena Hotel Dar Es Salaam, City Centre, and Government offices. The property offers many well-known brands including KFC Restaurant, New York donuts, Subway, black tomato as well as a supermarket and many multi-national offices.
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