IN a bid to reduce deficit and provide quality housing stock, DongXing International Real Estate Limited that made its way into Tanzania two years ago has come up with the residential project identified as "HUAFU" that will provide dwellers with a larger than life housing experience.
Statistics from the National Housing Corporation (NHC) shows that the country runs a housing deficit estimated at 3 million units while the current annual growth of demand for houses in urban areas is 200,000 units.
The DongXing International Real Estate Limited Deputy Manager Mr Liu Yupeng said in a news conference yesterday in Dar e Salaam that "HUAFU" which is a five star home projects is intended to provide high quality and standard apartments to Tanzanians.
"Our motive is to provide quality and standard homes to be owned by Tanzanians," said Mr Liu, adding that, "the project, would among others contribute immensely to the highly needed tax revenues, as well as creating more jobs to Tanzanians," he said.
Mr Liu hailed the government support to foreign investors as well as its policies on taxes which have been favouring the real estate development. The project is being built facing the Msasani Beach.
Having a total of 98 apartments, the residential project implemented just in front of Msasani Beach will provide luxury housing to local Tanzanians to both upper and middle class.
He said Dongxing International Ltd main focus and vision for the future is to partner with local investors and land developers to work in a joint venture to provide affordable housing facilities.
Mr Liu said further that HUAFU project is committed to support the community in the sectors of education, water and electricity being part of its corporate social responsibility.
Currently, he said DongXing is planning to rehabilitate the 500 meter piece of road near Mikocheni - Tanesco offices, opposite the Engen petrol station leading to their project site.
The area of the project is 7930 square metres; construction area; 20,220 square metres and each storey's height is 3 metres with plenty of parking space.