26 March 2014

Tanzania: NHC Earns Sh45 Billion From Sale of 1,000 Houses

THE National Housing Corporation (NHC) has earned 45bn/- from 1,000 houses it has sold so far in its ongoing projects to build houses for sale throughout the country.

This was said in Dar es Salaam by NHC Director of Business Development, Mr David Shambwe, when announcing the sale of 214 houses in Kigamboni area, on the outskirts of the city.

Mr Shambwe noted that the houses, which will be completed within the next 18 months, will bring in between 45.75bn/- and 128.9bn/-.

The project is expected to cost 10bn/-. "We have sold 1000 houses and earned 45bn/-. The public has responded quickly in purchasing our houses and this encourages us to put more efforts in constructing more houses," he said.

NHC targets to build 15,000 houses by 2015 and Mr Shambwe said that the company's management hoped that the target would be surpassed.

He told reporters that the Kigamboni project was located 19.5kms from Kivukoni in Mwongozo area, adding that the houses were located a few metres from the shores of the Indian Ocean and had basic social services such as water, roads, schools and dispensaries.

"The houses are in five categories targeting to address the needs of various people from all walks of life. The houses will cost between 44.75bn/- and 128.9bn/-," he said.

He said the sale would commence on April 16, this year, adding that buyers would be required to initially pay at least 10 per cent of the sale price and finish the remainder later.

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