Arusha — THE PPF Pensions Fund intends to erect a massive 10-storey commercial complex in the so-called "Corridor Area" section of the city, opposite the Kibo Palace Hotel and just a stone throw away from another sky-scrapper being constructed by NSSF.
That was revealed in Arusha during the closing of this year's PPF Members' Conference that wounded up over the weekend during the delegations' trip to Ngorongoro Crater.
The Regional Commissioner, Mr Magessa Mulongo, who officially closed the 23rd PPF Annual Members Meeting here, lauded the scheme's investments plans for Arusha pointing out that, previous real-estate enterprising done by the fund helped the city to effectively host all international organizations based here.
"The PPF housing units in Njiro (Themi Hills) and Ilboru (Kaloleni) has helped to create high standard residential apartment and single housing units that are being occupied by a number of employees and officials of international organizations based here," stated Mr Mulongo, adding that even the high-class "East African All Suites Hotel" was also constructed by the scheme.
The 35 years of PPF have not been in vain, because according to the Deputy Chairman of the Board of Trustees, Dr Aggrey Mlimuka, the scheme has 224 193 members whose total contributions are expected to reach 282 billion/- this year. The fund, on the other hand, is currently valued at nearly 1.3 trillion/- as of June 2013.