23 November 2012

Tanzania: Preps for Homes Expo in Full Gear

THE second edition of homes expo is expected to attract thousands of exhibitors and visitors, thanks to the growing mortgage platform that has seen citizens shifting appetite to own home instead of renting.

The three-day event dubbed "Tanzania Homes Expo" is scheduled to take place in the second week of December at Mlimani City where the entire real estate industry would get a chance to interact with the sector stakeholders.

Tanzania Homes Expo Event Director Zenno Ngowi said a number of property developers, banks, decoration companies, insurance companies, alternative energy companies and agents have confirmed to participate. "Judging from the overwhelming bookings that we have received, we expect the second homes expo to be bigger and better than the first," Mr Ngowi said.

The director pegged his projection to the fact that with two weeks to go, a large number of banks, real estate companies, decoration companies and alternative energy companies, have confirmed to take part, which was more than anticipated.

"These exhibitors have enrolled to take part because of the enormous leads that they will acquire and the huge volume of direct sales to be generated - the expo will no doubt provide excellent returns on investment," the event director said.

The country's housing industry is shifting from an era accommodation renting to one in which a growing number of middle class is opting to own homes. On other hand, the growth of mortgage loans from banks is poised to contribute to the growth of the housing sector.

The event serves as a one-stop-shop for the real estate stakeholders presenting new products, innovative services and technology. In the first edition of the expo, the organisers saw a large number of property developers, banks, decoration companies, insurance companies, alternative energy companies and agents taking part.

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