Darproperty March 2015 by Darproperty Tanzania

The

March 2015

Featuring Properties from Tanzania & Kenya

www.darproperty.net

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

FREE COPY

Issue No 36 | ISSN 1821-7753

One Year Free of Interest Repayments in Ten (10) years Down payment 1.9%

The Darproperty - March 2015 | 1

”Tanz ani a´ sl eadi ngl and& pr oper t yagent ” www. t z agent s . com DaresSal aam

Pr oper t yi mg

FORSALE Mas akiT our eDr . –3b/ rapt . USD400, 000

FORSALE KunduchiBeach–3b/ r USD200, 000

FORRENT AdaEs t at e–4b/ r USD4, 500/mont h

FORSALE Mbagal a-war ehous e USD400, 000

Ar us ha

Pr oper t yi mg

FORRENT Nj i r oAGM –5b/ r USD850/mont h

FORRENT Cl ockT ower/CBD–4b/ r USD700/mont h

FORRENT Kar at u–Ol dFar m Hous e USD1, 000/mont h

FORRENT Nj i r o–2b/ r–apt . USD350/mont h

Tanga/Pangani

Pr oper t yi mg

FORSALE Tanga–beachf r ont –4acr es USD575, 000

FORSALE St ahabu–3, 4acr es USD85, 000

FORSALE Amboni–4, 5acr es USD135, 000

FORSALE Se v er almor ebeachpl ot s Pr i cesonr eques t

Cont act s DaresSal aam

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

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

Pr oper t yoft hemont h!

Loki s al e–100acr es–USD60, 000

PHOTO

Thi sbe a ut i f ulf a r m( me a s ur i ngat ot a lof1, 513a c r e s )i sl oc a t e di nt heLoki s al ea r eaof Ma s a iLa nd, a ppr ox i ma t e l y2hour sdr i v i ngt i mef r om Ar us ha , i nt hedi r e c t i onoft he na t i ona lpa r ks . Onac l e a rda y , i tha sv i e wsofKi l i ma nj a r o, Me r ua ndt heMondul i mount a i ns . I t ´ sa boutt obede v e l opedi nt oa”wi l dl i f ec ommuni t y ”of f e r i ng8i nv es t or s t heoppor t uni t yt obuy100a c r e se a c h. Ther e ma i ni ng700a c r e swi l lbede v e l opedi nt o ahi ghe ndl odge . Pl a nsf ur t he ri nc l uder oa di nf r a s t r uc t ur e , a na i r s t r i p( t hef l yi ngt i me f r om Ar us hawi l lbe8mi nut e s )a ndwa t e rs our c i ng. Thef a r mc ome swi t hac l e ant i t l e de e dwi t h53y e a r sr e ma i ni ng. 5pl ot sha v ebe e ns ol da l r e a dya nd3a r es t i l lr e mai ni ng. A s ma l lf e ef ors ubdi v i s i onwi l lc omewi t ht hel a ndbuta l lot he rde v e l opme ntwi l lbe t a ke nc a r eofbyt hema i ni nv e s t or . Fors ome onel ooki ngf ort he i rown”wi l dl i f e pa r a di s e ”-pl ea s ec omea ndc he c kt hi sout !

Publisher

Darproperty Tanzania

AVAILABLE FROM: 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

Editor In Chief

Larson Chumi

editor@darproperty.net

Business Development & Products

Abdallah Mugasa Designs & Layouts

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 Public Relation Officer Maria Urassa

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 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 Disclaimer The Darproperty is published by Darproperty Tanzania Company. All rights reserved. The contents and opinions expressed herein are not necessarily the representation of publisher’s view. All material published is deemed to originate from the author and will not accept any liability whatsoever in respect that have been sourced from contributors. Users are required to make their own judgement on the details contained in each advertisment. While every caution is taken in compiling the contents of this magazine, the publisher will not accept any liability for the effects arising thereof. No part of this publication will be reproduced with out written consent from Darproperty Tanzania Company.

This magazine is registered by the government of United Republic of Tanzania under the newspaper Act no. 3 of 1976 and the Postmaster General. Registration No. 00005562

The DarProperty March 62 The DarProperty September 2013

- April 2012

6 | The Darproperty - Feb 2015

Livingstone St.

Adamas Residence

Msimbazi st.

Amani St. Livingstone Hotel

Morogoro Rd.

Lumumba St.

Puma Petrol Station

Livingstone/Amani St. - Kariakoo Adamas Residence 4th Floor. Mobile:

Real Estate

THE PROPERTY HOT SPOTS IN NAIROBI, KENYA (PART 1)

he craze in the property market, especially in Nairobi, Kenya is amazing to say the least. All of a sudden the big boys and the small timers are rushing in to make a kill in the boom, just like the Gold Rush of the 19th Century. Nowadays everyone is a property broker with a small briefcase company to boot. Whether you are an accountant, a doctor, a DJ, hell even a security guard, you always have that brief case with “property agent” written in bold! The few property experts, in addition to weak regulatory institutions, don’t make it any better. I must admit it’s an open field for all, and yes, many Kenya shilling millionaires continue to be made in their thousands. In a nut shell, any fool would bet his life in the Nairobi property business. Nonetheless, in all this madness and chaos, there is usually that one odd guy, who will ask questions; that one lady who will want to know the logic and reason behind any situation; that one kid, who will want to do his homework first before he puts a penny in any investment; that one gentleman, who will want more than mediocre returns at minimal cost; THAT is the person I want to address in this article. So if you are that person, then I know you have already started underlining key words like my pastor does with his favorite verses in the age-old 8 | The Darproperty - March 2015

bible. Now, hear me. The hot spots in Nairobi right now are areas you can do high density developments or comprehensive mixed use developments. I will point you to high-end areas like Lavington, Kilimani and Kileleshwa, where high-rise apartments are allowable and restrictions are up to the 12th floor so long as you put in the good old lift. And yes, I know I will also go ahead to say that some areas east of the Nairobi Central business District have better returns than these so called high-end areas. For the big boys 5 acres is sufficient to do a tight vertical mixed-use development with office, residential, retail and hospitality components. If you are as lucky as Acorn + Britam (before the nasty split, of course), you can find a nice 5 acre at the heart of Kileleshwa to milk your money’s worth. The trick here is to achieve as high of a bulk as possible, with the right mix. A little further from CBD especially on Thika and Mombasa Super Highways you can easily get a good 20 acre plus. Otherwise, the outskirts of Nairobi present opportunities for the comprehensive mixed use on land measuring more than 100 acres. The trick here is “change of user” from agricultural land, where on getting that approval the value of land increases by a

factor of not less than 0.5 even before laying an inch of cement. It may sound absurd, but live examples exist. In part 2 of this article, in next month’s issue, I will be discussing the specific property hotspots in Nairobi, the returns you can get and why you need to put all your money in this basket!!

Morris Omollo Property Consultant Registered & Practicing Valuer and Estate Agent in Kenya morris@darproperty.net

The Darproperty - March 2015 | 9

MODERN APARTMENT

FOR RENT MBWENI MPIJI

Two Bedroom appartment set in a secure estate with modern amenities including accesibility of internet . Tarmac access via Bunju close to the estate. Book now call: 0767 325 170/0686 213 626/0767 297 640

MSASANI BEACH FOR RENT $2700

4 Bedroom Twin Villas Secure gated compound, furnished with swimming pool/ gym,24 hours security, good outdoor space ideal for Dog owners.

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.

12 | The Darproperty - March 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

“ We believe in Quality and deliver the same “Quality Is Not An Act It Is A Habit” Aristotle

Specializing in valuation, advisory, and property management, we provide value-added and risk-averse solutions to a wide range of property decision makers and stakeholders.

Lloyd Jones Limited Viva Towers, second floor, suite 03 Ali Hassani Mwinyi road P.o.Box 10705 Dar es Salaam TEL: 255 22 210 3416 +255 753 333 000

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) Ref. 74

– OFF ISAAC GATHANJU ROAD

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

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.

14 | The Darproperty - March 2015

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

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.

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.

MEDINA PALMS – WATAMU A delightful apartment with beautiful private gardens and beach. This 2 bedroom Penthouse Apartment is one of the best located of its kind in the Medina Palms residential development. Set over two floors with stunning views over the fishing fleet moored in Turtle Bay. Extending to 283 square meters (3,046 square feet), the penthouse includes a large living space combining a reception and dining area with a modern kitchen off to one side. Both bedrooms are spacious, air conditioned with ensuite bathrooms. The master suite opens onto a terrace and has its own dressing room.

PRICE: Kshs. 58 Million.(UNFURNISHED) WISPERS AVENUE

TO LET: Kshs. 350,000/= per month. Ref. 27

RUNDA

TO LET: Kshs. 320,000/= per month. Ref. 41

Located close to the United Nations & Village market, a double storey

A double storey house o ½ acre of garden in this secure residential

Room, 6 Bedrooms, 5 Bedrooms (3 Ensuite), Kitchen & Pantry. 2 Staff Rooms.

Bedrooms, Cloakroom & Kitchen with Breakfast Area. 2 Staff Rooms, Laundry Room, Generator.

MUTHAIGA

TO LET: US $ 12,500.00 per month. Ref. 51

An immaculate contemporary 6 Bedroom house in a secure compound of 2 with beautiful views of the Karura Forest. 10,000 sq ft. Lounge, Dining Room, TV Room, Study, Kitchen, Cloakroom, Laundry Room with laundry chute & Linen Room. Home theatre, Pool Table, Wine Cellar, Garage, 3 Staff Rooms, Generator, WIFI.

RUNDA MUMWE

TO LET: Kshs. 300,000/= per month. Ref. 90

A well built double storey house on ½ acre of garden. Living Room, Dining, 4 Bedrooms, 3 Bathrooms (2 Enusite), Cloakroom & Kitchen. 2 Staff Rooms, Double Carport, Borehole & Well Water.

PEPONI

TO LET: Kshs.260,000/= per month. Ref. 53

FURNISHED & SERVICED Apartments in a secure compound of six with forest views. Living/Dining Room, 3 Bedrooms, 2 Bathrooms, (1

RUNDA EVERGREEN

TO LET: Kshs. 90,000/= per month. Ref. 15

A FURNISHED GUESTHOUSE in a secure compound. Living Room, 2 Bedrooms, 1 Bathroom & Kitchen.

GIGIRI

TO LET: US $ 8000.00 per month. Ref. 6

7000 SQ. FEET OF OFFICE SPACE TO LET A double storey house located close to the Village Market, the UN and Dining Room, Family Room, 5 Ensuite Bedrooms, Kitchen/Store. SWIMMING POOL. AVAILABLE 1ST OCTOBER 2014.

FOURWAYS JUNCTION

TO LET:

Kshs. 155,000/= per month. (inclusive service charge). Ref. 64

A double storey house in a secure development located off Kiambu Road. Living Room, Dining Room, 4 Bedrooms, 2 Bathrooms (3 Ensuite), Cloakroom & Kitchen. 1 Staff Room.

RUNDA

TO LET: Kshs.350,000/= per month. Ref. 102

A spacious and well presented double storey house on 0.5 acre of 6 Bedrooms, 4 Bathrooms (2 Ensuite), Kitchen with Breakfast Area, Extra Bedroom with bathroom. 2 Staff Rooms.

The Darproperty - March 2015 | 15

samsa real estate ltd “Where customer needs are fulfilled”

Make yourself at Home, Samsa Real Estates oﬀers a personally inspected selection of privately owned, furnished accomodations for rent which includes everything quality, heritage stlyed homes to luxury downtown apartments.

FEATURES: Offices Fully furnished 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

CONTACT US: +255 22 2181918. +255 22 2181941, +255 784 440272, sas007tz@yahoo.com Plot No. 84/36G Rashid Kawawa Road Opp. Biafra Play Ground Kinondoni

Tanzania Real Estate Sector Attracts the world`s Top Brand.

s one of the emerging markets, Tanzania has shown a lot of promises not only in the oil and gas and other extractive industries but also in the real estate industry. Our special correspondent made an exclusive interview with Dr. Ovunc Aslan, CoOwner of RE/MAX master franchise for the Tanzania. Following is the interview that took place in Dar es Salaam recently.

DP: Hello Dr. Aslan. Dr. Aslan: Hello. Thank you for visiting us. DP: First and foremost I would to know, Why did choose to invest in the real estate industry, why Tanzania, Why RE/ MAX and why now? Dr. Aslan: First of all real estate business was on my mind for a long time. I was planning to buy a RE/MAX franchise in my country before moving to Tanzania. Real estate brokerage is a very advantageous business because you can make a very high profit with minimum risk. Your only risk is opening an office then you just bring people together and facilitate business and you make money from that. And the money in real estate business is really big even if you are charging a small percentage of commission you make good money because you are selling an expensive product. When I was doing research about RE/MAX I visited many people from different countries, one of them, a RE/MAX broker told me that “I am doing this business for more than twenty years and I am doing it with RE/ MAX for the last fifteen years and I don’t know any other business which I 18 | The Darproperty - March 2015

can make this much money, with this much low risk and startup investment cost. If you know, please tell me and let’s do it together” He was right, I did not know and still don’t know yet. Why RE/MAX? There are a lot of reasons for that. First of all I wanted to benefit from other people’s experiences because you don’t need to reinvent the wheel and I realized that the best way to benefit from other people’s experiences is franchise model. Being a franchisee has a lot of advantages. You are not alone, your franchisor is giving you a well-known brand name and they provide you training. You benefit from their experiences. You don’t need to learn with trial-and-error method. You benefit from group purchase advantages, you benefit from group advertisement. You become a part of a network. Let me give you one more example from my experiences with RE/ MAX associates from other countries. Before buying RE/MAX master franchise for Tanzania we attended RE/MAX”s annual convention at Las Vegas and one of the brokers was from an African country, I told him my intent to buy RE/ MAX master franchise for Tanzania, told him my concerns also and asked his advices to me. He said “I will tell you one of my experiences. A customer from Brazil found me from RE/ MAX website and asked for a big land for commercial scale agriculture. I found the land from RE/MAX network and he came to my country, bought the land for $20.000.000 and we made $2.000.000

commission from that sale. That guy could never find me if I was not in the RE/MAX network, the landlord could never find a customer from Brazil if he did not sell his plot with RE/MAX and I could never sell a plot to a customer in Brazil if I was not in the RE/MAX network. Then he asked me “do you want to ask anything more? “ I said “No thank, you that’s enough for me.” Yes I know that’s not the daily routine of course, RE/MAX is not a magic stick, when I touch you with it you become rich, no, you have to be honest, you have to work hard, you have to be patient, you have to give the best service to your customers but I have listened similar stories from several people from RE/ MAX and RE/MAX can help you to write your own success story. You will not sell a $20.000.000 plot everyday but one big plot, one big hotel, one big mine, one big commercial building, one big beach or one big housing project can be enough to make you rich. RE/MAX is a proven system which has been tested in more than 100 countries and repetitive success cannot be a matter of change. RE/MAX was ranked number one again in 2014 in several serious international economy magazines in real estate and franchise categories and that is a result of a perfect system and hard work. Let’s come to why Tanzania? There are a lot of reasons for that but I can easily count couple of them. Tanzania is a sleeping giant with nearly 50 million very young population, very reach oil and gas and minerals reserve, security, tourism, agriculture, fast growth rate, low urbanization rate etc. Because of all those and many more reasons Tanzania has a great potential on every aspect of real estate. DP: A lot of foreigners and experts are complaining that the real estate market in Tanzania is kind of disorganized and feature a lot of quacks and conmen? To what extent to you agree with such a statement? Dr. Aslan: I cannot say that all people in Tanzanian real estate market are quacks, that’s not true and fare but I have to admit that I have listened a lot of bad stories from complaining customers. The real estate market in Tanzania is disorganized, unregulated. There is no certification, no trainings, there is no professionalism. And that’s why RE/MAX is here. RE/MAX will provide all these international standards and revolutionize the Tanzanian real

estate market like it did in 100 countries. DP: As RE/MAX, how do you operate? Can you explain your business model? Dr. Aslan: RE/MAX is a franchise company that means you need to buy franchise rights from the master franchise owner (RE/MAX Tanzania) to open your own RE/MAX office and benefit from the brand, technology, training, network, group purchase and advertisement and many other things. When you buy a franchise you become a RE/MAX broker. After buying the franchise you need to recruit agents to use your office. I’m not using the word “hire” because in RE/MAX system agents are not employees. They are the bosses of their own business. It’s a 100% commission based system so nobody is an employee. We are team mates. It’s a win-win system. RE/MAX is an agent oriented company which was founded by real estate agents in DenverUSA in 1973. We believe that if our agents are happy and motivated they can be successful thus we have created a system which is targeting to create happy agents. They are not employees so they don’t think that “Why should I work so hard to make my boss richer? “ They think that “That’s my business and if I work hard I can make more money for myself, my family, my future”. This mentality creates motivated agents, motivated agents create quality service to the customers, quality service creates satisfied customers, satisfied customers brings more business, more business brings more money, more money brings more motivation. This is a productive and fertile loop. Since it is a 100% commission based system there is no space for lazy, unsuccessful, ineffective people. They will automatically leave the system because there is no salary even if they are not producing any commission. It’s a very nice business opportunity for brokers because brokers can also sell like an agent personally and also they can recruit many agents, train them, support them, motivate them, retain them and make more money with each extra agent. Think about that if you have 10 or 20 agents in your office. As a result, it is a win-win model and everybody in the system is happy and makes good money, otherwise nearly 100.000 people in the world would not be under this wonderful brand. 100.000 people cannot be mistaken at the same time. Let’s talk a little bit about the advantages of working with RE/MAX as a landlord or buyer/tenant. There are two main expectancies of a landlord from a realtor. To sell/rent the property in the shortest time and with the highest possible price. A RE/ MAX agent is the right person to meet these expectancies. Because a RE/MAX agent is a part of the biggest real estate network in the world and is connected with thousands of RE/MAX agents all

Dr. Ovunc Aslan, Co-Owner of RE/MAX master franchise for the Tanzania.

around the world and a RE/MAX agent lists your property on world’s biggest real estate web site RE/MAX.com and a RE/MAX agent creates a marketing plan for your property and invest on it, does advertisement for it. And all these together make it easy to find the right customer for you in the shortest time. And the price. A RE/MAX agent is very well trained for this also, he knows the market very well, can compare the similar properties, can help you to find the best listing price for your property. Finding the right price is very important and needs experience on the market. If you price your property low that means you lose money, if you price it high you cannot find a customer that means you lose time and indirectly you lose money. For example if you insist to rent your house for $1.000 when the market average for a house like yours is $750 and you wait extra 6 months to find a tenant your annual rental income will be 6x1.000=$6.000. But if you listen to your RE/MAX agent’s advice and reduce the fee to $750 your annual rental income will be 12x750=$9.000.So a RE/MAX agent is the right person to help you sell/rent your property with the right price instead of highest price. Now let’s talk about the advantages of working with a RE/MAX agent for a buyer/ tenant. There are two main expectancies of buyers/tenants from a realtor. To find the right property for their needs and finding it with the lowest possible price. A RE/MAX agent is also the right person to help you

for your expectations. A RE/MAX agent knows his area better than anybody, he is aware of every plot for sale or every house for rent, he knows their prices and advantageous and disadvantageous parts even the neighbors around and can warn you about the bad things (lack of backup generator or a night club next to the house), can help you to meet your expectancies about the property. And last and the best a RE/MAX agent does all those things for you for free because we charge our commissions from the seller/landlord, we don’t charge anything from the buyer/tenant. So there is no reason to look for the property you need yourself instead of getting a professional realtor service from a RE/MAX agent for free. DP: Apart from real estate brokerage services, what else will you be providing? Dr. Aslan: Our main service is brokerage and also we are providing property management to our clients. Finally we are looking for visionary entrepreneurs to join our team and be a part of the best real estate company in the world to build a bright future for their selves. Our doors are open to honest, hardworking people who are willing to own their own business instead of working for somebody else with a fixed income and our head office is located at Ohio Street, IT Plaza, 6th Floor, 38396, Dar es Salaam.

The Darproperty - March 2015 | 19

+255 762 48 48 78 | 782 50 95 31

as little as 0.15%

Protect your House & Valuables

20 | The Darproperty - March 2015

Superior Community for Better Life

Kigamboni

Sports & Entertainment Center Golf training ﬁeld Swimming pool Basketball court Kids' play yard Football ﬁeld Tennis court Gym

Retail stores Shopping center, Bakery, Fruit & vegetable shops, Butcher’s shop, Fish market, Pharmacies, etc.

Services Banks, Bus stops, Liqueﬁed gas station, Laundry, etc. Commercial Center

Food and drink Restaurants, Fast food, Café, Western food, Bars,

Site Sales Oﬃce: AVIC TOWN, Somangira, Kigamboni, Dar es Salaam City Sales Oﬃce: G/F,Sea View Apartment, Near Aga Khan Hospital, Upanga PHONE：+255 766 189999 | +255763 500999 info@avictown.co.tz | www.avictown.co.tz

22 | The Darproperty - March 2015

The Darproperty - March 2015 | 23

24 | The Darproperty - March 2015

25 | The Darproperty - Dec 2014

The Darproperty - March 2015 | 25

House for Rent - Mikocheni B $700 p.m

4 Bedrooms 1 Master Bedroom 2 Living rooms Electric fence Water Availability

20 meters from the main road Ideal for medium family / business Mature & well taken care garden

+255 756 012 987

500 M2 suitable for Casino, Restaurants, Clinics, Supermarkets, available at attractive rates."

Kitchen Cabinet | Home Furnitures | OďŹ&#x192;ce Furnitures | Wardrobes & Cabinets | Interior Design

Luxury Living Visit our showroom at DL Plaza along Pugu rd, near TATA showroom.

Call: +255 768 380 680 | Showroom: +255 222861661 s.donmez@visionfurniture.co.tz | www.visionfurniture.co.tz

Looking for a Mortgage that suits YOU? Weâ&#x20AC;&#x2122;ve Made it Easier & Simpler with US.

Rates as low as 8.5% p.a

+255 756 012 987 | mortgage@darproperty.net The Darproperty - March 2015 | 29

BETTER GET A MORTGAGE IN YOUR 30S.

ongratulations, thirty-something. You made it through your 20s without any big financial missteps, you might have established a career and now you are making enough money to consider buying a home. Maybe you’ve been a proud renter for the past handful of years because of the iffy housing market, student loan payments, changing jobs or cities (or partners) – or because you didn’t want the responsibility of time-suckers like yard work and painting. You could even have invested in a plot or a shamba. Now you feel it’s time to buy for the first time or upgrade. It’s the biggest purchase you’ve ever made. Here are the top five things to consider before you move forward. 1. Become a Mortgage Expert Unless you saved hundreds of thousands of dollars or have a very generous friend or family member willing to sell you a home for dirt-cheap, you’re going to need a loan. That loan is called a mortgage. You might know that already but do you know how they work—as in, you’re kind of an expert? Before going into the process, you need to understand interest rates, amortization 30 | The Darproperty - March 2015

schedules, closing costs, fixed rates, balloons, and ARMs. 2. Be Conservative Without getting all doom and gloom, take a lesson from less than a decade ago. The “ US housing crisis” happened, in part, because people bought more home than they could afford. When the economy went bad, some of those people found themselves jobless and unable to make their mortgage payments. Many filed for bankruptcy and are still unable to qualify for a mortgage. Sure, you spent the latter part of your 20s working hard to get to an income level you could be proud of, but as a thirty-something, you probably aren’t truly financially secure with gobs of money in the bank. Buy less house than your bank or mortgage lender is telling you you can afford. The basic rule of thumb? Your mortgage payment – including principal, interest, taxes, and insurance – should be no more than 28% of your gross monthly income. 3. Put Your Financial House in Order Sure, home ownership makes you feel like you have arrived. Just be sure you first have appropriate insurance for your family

– mainly health, but also life insurance especially if one person is the sole income source. Make sure you have an emergency fund (you’re about to acquire a whole lot of potential new emergencies, such as broken boilers). Decide whether you should first pay off your non-mortgage debt. One factor in the decision: Will owning a home actually save you money on housing? All of these steps will also make it easier to get a mortgage. 4. Have a Retirement Pan You’re still young; retirement feels like it’s 100 years away. In fact, it might be less than 30. Don’t rob your retirement savings to buy a home – among other things, you’ll lose the benefit of compounding as relatively small amounts of money build up over many years. Catching up later is costly. It doesn’t feel like a priority but you’re going to need that money a lot sooner than you think. A house is a purchase for today but retirement is savings for tomorrow. Tomorrow needs just as much attention as today.

Different mortgage lenders offer different lending rates and other fees associated with the loan application. Below is the sample schedule according to one`s income. In a scenario whereby the applicants applies for a 15 years loan at 18.5%.

REAL ESTATE The ABCs of REAL ESTATE MARKET Backup Contract: A contract to buy real estate that becomes effective if a prior contract fails to be consummated:

MAXIMUM DEBT PER MONTH (TSH)

MONTHLY INCOME (TSH)

QUALIFYING LOAN (TSH)

MONTHLY PAYMENT (TSH)

Example: Abel Contracts with Bakari to sell a property contingent on Bakari`s ability to obtain financing within 30 days. In the meantime,

900,000 - 999,999

569,999

34,000,000

559,817

Abel arranges a backup contract to sell to Colman, should Bakari fail

1,000,000 - 1,999,999

899,999

54,000,000

889,122

to obtain financing.

2,000,000 - 2,999,999

1,499,999

90,000,000

1,481,871

3,000,000 - 3,999,999

2,099,999

125,000,000

2,058,154

Salvage Value:

4,000,000 - 4,999,999

2,699,999

160,000,000

2,634,437

The estimated value that an asset will have at the end of its useful life.

5,000,000 - 5,999,999

3,299,999

200,000,000

3,293,046

Example: An appraiser estimates the useful life of a building at

6,000,000 - 6,999,999

3,899,999

230,000,000

3,787,003

7,000,000 - 7,999,999

4,499,999

270,000,000

4,445,613

8,000,000 - 8,999,999

5,099,999

300,000,000

4,939,570

9,000,000 - 9,999,999

5,699,999

340,000,000

5,598,179

10m - 11m

6,300,000

380,000,000

6,256,788

12m - 13m

7,500,000

450,000,000

7,409,355

Prospective Appraisal:

14 - Above

8,400,000+

500,000,000

8,232,616

Professionally derived estimate of value based on some expected

*Disclaimer: The above schedule should not be used as substitute for a prequalification neither preapproval. User is advised to seek a prequalification assessment from his preferred mortgage lender or a professional

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.

future event. Example: A bank wanted to provide a permanent loan on a proposed office building. It requested a prospective appraisal that would be

5. Make Sure You Have Time for a House A house is like a marriage – you can’t ignore it or bad things happen. If you’re working every day of the week and struggling to find enough time for your current responsibilities, do you have time for landscaping, painting, home improvement, emergency repairs, tree trimming, driveway shoveling and that random thing on the roof falling off? If you don’t, do you have enough money saved to pay somebody else to take care of it for you? Some experts say to budget 1% of your home’s value for maintenance, but that doesn’t take into account the time it will take throughout the year. One of the best parts about renting is that number you call when something goes wrong. You head off to work and when you come home, everything is taken care of. Things will change as a homeowner. Put together a plan to address issues like this. An alternative to consider: If you don’t mind some loss of privacy and control, buying a condo might be an alternative that builds equity – and qualifies for a homeowner’s benefits The Bottom Line You’re in your 30s. Now is a great time to buy a home. But before you sign dozens of times on the endless stack of mortgage documents, make sure that owning a home is right for you and your family at this time in your life. Written by Tim Parker & Yusuph Mhando.

based on the market value of the office building when completed according to plans and specifications.

Proxy: A person who represents another, particularly in some meeting. Also, the document giving to another the authority to represent. Example: Abdul could not be at the cooperative apartment association`s annual meeting, so he cast his vote by proxy.

Net Leasable Area: In a building or a project, floor space that may be rented to tenants. The area upon which rental payments are based. Generally excludes common areas and space devoted to heating, cooling and other equipment of a building. Example: A building with 10 floors, each containing 3,000 square feet of space, may have a net leasable area of 25,000 square feet.

Minimum down payment: The smallest cash contribution required to get a loan. Usually expressed as percentage of the loan amount. Example: A minimum down payment of 20% id required to get a conventional loan without mortgage insurance.

NOW AVAILABLE FOR RENT A modern, self-sufficient housing complex in Msasanii, Dar es salaam. Each apartment unit consists of 4 bedrooms ensuite. There is also an extra study/office room which can be used for any purpose. 2 rooms also have a large viewing balcony including access to the rooftop where you can have a view of the ocean.

LUXURY AMENITIES: •24 hours security •Water •Household waste collection •Compound lighting •Gymnasium and swimming pool maintenance •Parking •Data and Intercom hardware maintenance •24 hours CCTV surveillance •Entrance video recognition •Guest Parking •Backup generator and maintenance

AMArate Residence +255 782 786 999/ +255 712 786 999 shaheed@regentpark.co.tz, info@jabergroups.com

OPENING SOON A modern office complex that is expected to be ready soon in the heart of the city. Adjacent to Morogoro Road, along the corner with Msimbazi. Be halfway to everywhere and escape the traffic to both Masaki as well as Nyerere Road.

Al-falah +255 782 786 999/ +255 712 786 999 shaheed@regentpark.co.tz, info@jabergroups.com 34 | The Darproperty - March 2015

BUSINESS CENTER

OCEANFRONT SUITES

NOW AVAILABLE FOR RENT World Class furnished apartments with an amazing view of the Indian Ocean located conveniently in the heart of the business district along Samora Avenue. DETAILS AND AMENITIES: • • • • • • • •

3 and 4 bedroom Fully Furnished apartments Panoramic Ocean view Secure Parking High speed elevators 24 Hours Security Common Area Surveilance Near the Port Standby Generator

+255 782 786 999/ +255 712 786 999 +255 784 202 212/ +255 789 199 511 shaheed@regentpark.co.tz

Experience Luxury In the heart of the Business District

Regent Business Park

NOW AVAILABLE FOR RENT Non Partitioned

Partitioned Rest in Abso

lute Comfort

NEW AVON HOTEL Three delightful Accomodation choices to choose from. Each room includes high speed WiFi and a flat screen TV among other amenities. Choose from a wide selection of delicacies from our room service menu and bask in extreme relaxation at the A1 Spa

Reserve@NewAvonHotel.com GM@NewAvonHotel.com

0768 002866 0688 002866 0658 002866

240 SQ M, 270 SQ M, 120 SQ M and 50 SQ M Available Location: Behind Shoppers Plaza Mikocheni

+255 782 786 999/ +255 712 786 999 email: Shaheed@regentpark.co.tz

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

CLASSIFIEDS

1,000 Acre Farm located between Mount Meru and Mount Kilimanjaro 0786 904 360.

SALE!

sale $1,000,000 Plot for sale in Kawe situated on the main road, 4,000sqm 0786 904 360 mik och eni B

SALE

Visiga - Kibaha Has Title Deed No.78280 12,200/= SQM 0756 359529/0754 366531 0754 013550/ 0767 010854 kig amb oni

kib aha vis iga

FOR

SALE 2 plots of 12.4 acres and 3 acres great north and west views of ngorongoro crater rim and oldeani mountain; fully titled. 0787 133 947

kib aha vis iga

ubu ngo

We st K ilim anj aro

sale $3,000,000

SALE $900,000

20 surveyed contiguos plots (medium density) Kerege Bagamoyo district, 1 kilometer oﬀ Bagamoyo rd. suitable for housing estate 0713 336 387/ 0762 122 328

kaw e

SALE 100m

1 one acre, Ideal for petrol station 0715/0784 281851

SALE 700m

3 Acres - Ubungo Msewe 0718 568 482/ 0758 325 491

SALE $400000 School plot, 26,900SQM, adjacent to National Housing estate Clean Title Deed. 0713 336 387/ 0762 122 328

kar atu

kis ara we

bun ju

price on request Plot for sale at Bunju - few meters oﬀ Bagamoyo road 0754 780 650 0789 331 255

ker ege bag amo yo

RENT $2000

Mikocheni B - Bima road 5 bedrooms, 2 bathrooms, 493sqm 200 Metres from the main tarmac road, +255 786 207 911

RENT $700 4 Bedrooms house, 2 Bathrooms, 2 living rooms, enough water reservior, 20 meters from the main road 1 master bedroom, electric fence 0756 012 987

ubu ngo kib ang u

RENT & SALE $2000 3bedrooms, 2bedrooms, fully furnished, swimming pool, gym, 0765384239/ 0765283750

bun ju

mas aki

kig amb oni

simply call 0767 200 202 classiﬁeds@darproperty.net

KUNDUCHI VILLAS Kunduchi Beach Villas

SALE 15m 636SQM Gezaulole Temeke Municipality, 0715913814 / 0784913814

Rent $600 3 Bedrooms, Kitchen, Dinning, store, Tarmac road

kon gow e

gez aul ole

kib aha vis iga

+255 762 545 866 +255 684 425 142

SALE Visiga - Kibaha Has Title Deed No.78310 8,907= SQM 0756 359529/0754 366531 0754 013550/ 0767 010854

sale 122m 3.05 Acre, Title deed no.78280 0767 010 854 / 0684 010 854

SALE 150,000 3 Bedroom, 2 Bathrooms behind Mzee wa Upako Church 0657 376496

mik och eni

NEWLY BUILT. MOVE IN READY! PREMIUM LOCATION VILLAS

sale 50m 11/4 Acre 1 km from Morogoro rd. 0718 568 482 / 0758 325491

sale $1.5m 6989 sqmeter industrial plot Light Industrial area. +255 789 234041 | +255 713 853369

A MODERN AND SECURE HOME WITH A STUNNING VIEW

CALL US NOW!

+255 762 545 866 +255 684 425 142

��

THE REEF APARTMENTS

NEWLY BUILT APARTMENTS AND VILLAS FOR SALE AND FOR RENT PROPERTY FEATURES:

Ocean views or Private beach, Swimming pool, Modern kitchen appliances, Fully equipped gym, Air conditioning, Standby generator, 24hrs Elevator, High-end Security & CCTV cameras, Electric fence, Ample parking yard, DSTv connection, 24 hour Management service !

OCEAN WAVE APARTMENTS

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)

Email: reefaptms@gmail.com

Email: oceanwaveaptms@gmail.com

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

Worry Free - Money Back

G UA R A N T E E

38 | The Darproperty - March 2015

TANZANIAâ&#x20AC;&#x2122;S BEST REAL ESTATE EXHIBITION

The 2 ND DARPROPERTY EXPO Showcasing Top Brands & Service Providers in the Real Estate Sector Venue: Diamond Jubilee V.I.P Hall Date: 2nd - 5th May 2015

+255 784 23 89 62 / 688 75 18 68 expo@darproperty.net

Gala Dinner: Serena Hotel Date: 9th May 2015

MEDIA PARTNER

To Participate

expo.darproperty.co.tz

SUPPORTER

ORGANIZER

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

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

PHOTO & CO.ESTATE Kahama Road/Msasani peninsula P.O BOX 105121 Dar es Salaam. 0786 962 444 Email; Octavianfocas@yahoo.com.

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

HAMPTONS PROPERTIES TZ Haidery plaza - 1st ďŹ&#x201A;oor 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 40 | The Darproperty - Dec 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

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

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

+255 756 960 960, +255 714 444 250, +255 752 444 606. ARUSHA +255 653 005 530, MWANZA +255 653 005 535,

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

INFO@TZREALESTATE.CO.TZ TZREALESTATE.CO.TZ

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

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

LAND FOR SALE - KARATU

4 PLOTS TOTALLING APPROXIMATELY 600 ACRES OF LAND CLOSE TO KARATU TOWN. VIEWS OF NGORONGORO CRATER RIM AND OLDEANI MOUNTAIN. NEW SUB-TITLES. CLOSE TO KARATU TOWN IDEAL FOR HOTEL / TOURISM, RESIDENTIAL OR INTENSIVE AGRICULTURAL. NO AGENTS PLEASE.

CONTACT 0787 133 947 Karatuland@gmail.com.

“A man`s character is the reliability of himself. His reputation is the opinion others have formed of him. Character is in him; reputation is from other people.” Henry Ward Beecher

PATRONS ADVERTISERS

INDEX

If you like what you are reading Buy from our Advertisers, remember to mention you saw their Advert in this magazine

PATRON PAGE NO

Advertise with US NAIROBI +254 728 992 531 DAR ES SALAAM 022 2780517 0784 238 962 / 0713 751 868 sales@darproperty.net

42 | The Darproperty - Feb 2015

ADAMAS RESIDENCE..........................................7 AFRICA SAFER TANZANIA LTD.................24&25 AMARATE RESIDENCE........................................34 AL- FAH BUSINESS CENTER...............................34 AVIC TOWN...................................................21 AXIS REAL ESTATE.......................................32&33 BABU MASANJA..............................................26 BERGER...................................................................2 BOA BANK.............................................................1 CHOKOLE INVESTMENT LTD............................38 CITY HOMES.............................................1,22&23 DIPLOMAT HOUSE.............................................26 JAMII FORUMS....................................................43 JJP INSURANCE.................................................20 KAFKAS ...........................................................3&44 KARATU ................................................................41 KENYA VALUERS.........................................14&15 LLOYD JONES.....................................................13 LONGONOT GATE............................................28 NEW AVON HOTEL...........................................35 OCEAN FRONT SUITES.....................................35 PRIORITY PROPERTY...........................................11 REEF APARTMENT.................................................37 REGENT BUSINESS PARK..................................35 REMAX...............................................................1&9 SAMSA.................................................................17 SCHANDS LTD.....................................................10 SIMBA CEMENT......................................................1 TANGANYIKA ESTATE AGENTS....................4&5 TATU CITY ............................................................16 TBS.........................................................................12 VISION FURNITURE............................................27 WASHAPAWA.....................................................20