darproperty august 2014 small

The DarProperty August 2014 1

FreeCopy

The

Issue No 30 | ISSN 1821-7753August 2014

www.darproperty.co.tz

The Ultimate Property Guide

FREE

COPY

The DarProperty August 20142

The DarProperty August 201444 The DarProperty September 2013The DarProperty March - April 20122

AVAILABLE FROM:In Dar Es SalaamSlipwayJ. D. PharmaciesAirport Terminal 2All Shopping MallsVillage SupermarketNHC - Head QuarterScholastica Book ShopsAll Novel Idea Book ShopsPremium Super MarketsBundu Shop - Southern Sun Oysterbay Shopping CenterNakiete Pharmacy - MwengeHome Shopping Center Renowned Hotels & OfficesTanzania Investment Center (TIC) All Major Real Estate Agents

Arusha Points 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 HotelSmart Choice SupermarketsShoprite Supermarket

PublisherDarproperty Tanzania

Editor In ChiefLarson Chumi

[email protected]

Business Development & ProductsAbdallah Mugasa

Designs & LayoutsAlan Peter

Dennis [email protected]

Marketing & SalesMichael Francis

[email protected]

DistributionBoniface Metta

Online Content ManagerMbwana Mbura

Key Accounts ManagerBrenda Ndashuka

Finance & Administration ManagerTheodora Mwangosi

Accounts ExecutivesCharity IsackGrey Mateni

Faraji Senkoro

Classifieds AdvertsGeorge Claus

Office Assistant.Brigita Laurance

Regulatory & Legal AdvisorsABC Attorneys

Mikocheni B - Bima road,P.O. Box 105499 Dar es Salaam

+255 22 2780 517+255 784 238 962,+255 713 751 868

[email protected]

DistributionShould you have problems in obtaining copies of DarProperty

Magazine, please contact+255 713 888 036+255 717 270 791

For Comments, Complains & [email protected]

Royal OvenPizzeriaCasinoCofee ShopU-turn SupermarketNono SupermarketImalaseko SupermarketIsamilo LodgeYunni Minni SupermarketMwanza HotelGold Crest HotelJb Belmount HotelRyan’s Bay HotelTilapia HotelVictoria Palace HotelMalaika Beach ResortFast JetBanks & Offices

In ZanzibarChavda HotelDhow PalaceBeyt al Chai HotelZanzibar Coffee HouseMtoni Marine HotelZanzibar CaféStone Town CaféDiplomatic SupermarketTembo House HotelMaru Maru HotelZanzibar Serena Hotel

Mwanza Points

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 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.

The DarProperty August 201466 The DarProperty August 2014


Tanzanias leading land & property agent

Dar es Salaam

Tanga / Pangani

Contacts

Arusha

Property img

FOR RENTUpanga - studios

USD 1,300 / month

Property img

Dar es Salaam Arusha Tanga / Pangani

Annabel Burdes

Representative Tanga / PanganiTel. +255 784 632 529

[email protected]

Anders Wehtje Raphael Nondi

FounderTel. +255 785 984 467

[email protected]

Manager Dar es SalaamTel. +255 717 032 633

[email protected]

FOR RENTMoshono – 2 b/rUSD 220 / month

FOR SALEPangani – hotel plot

USD 150,000

Property img

Property img Property img Property img

FOR RENTAda Estate – officeUSD 3,500 / month

FOR RENTMasaki – 2 b/r – all incl.

USD 2,500 / month

FOR RENTAda Estate – officeUSD 1,850 / month


FOR RENTNjiro, AGM – 3 b/rUSD 800 / month

FOR RENTBurka – behind ISM - 2 b/r

USD 800 / month


FOR SALEPangani – beach - top class

USD 350,000

FOR SALEPangani – beach cottage

USD 200,000

FOR SALESange – beach – 6 acres

USD 125,000

www.tzagents.com

FOR SALETengeru – 5 b/r

USD 195,000


OTHER PROPERTIES FOR RENT IN MASAKI

SEA PRINCESS APARTMENTS DAYS INN APARTMENTS

SAPPHIRE HEIGHTSNOWRENTING

Sapphire Heights is a newly developed residential building located in prime area of Masaki, conveniently situated on Haile

Selassie.The property offers fully furnished luxurious and spacious 3 bedroom apartments, with amenities including:Parking,

GYM, Swimming pool, Standby Generator, and24 hour security.The propertyislocated within close proximity to colosseum

Gym, Sea Cliff Hotel, Supermarkets and Restaurants.

For rental enquiries please contact:Cell: +255 (0) 689 578 785

Email: [email protected]


HONG XINGR E A L E S T A T E & D E V E L O P M E N T C O M P A N Y L I M I T E D

Hong Xing Real Estate and Development Company Limitedwas founded in September 2013. Under two fully experienced Directorsteamed with qualified and trained staff to obtain the best results that leads people torecognize excellence within competition in the real estate industry.

We are a Professional Agency dealing with all types of Prime LocatedProperties for Sale and Leasing, focused in providing advanced propertyservices and consultation to both Owners and Purchasers of Properties.

Looking for the followingPrime Located Propertiesunder Reasonable Prices

COMMERCIAL / RESIDENTIAL 5 Star Hotel (Masaki/Coco Beach area

4,000SQM to 10,000SQM)Office HQ (Masaki/Coco Beach/Mikocheni

4,000SQM)

0777-666 789 0787-888 786 0773-678 [email protected] / [email protected]

NO AGENTS

Office HQ (Masaki/Coco Beach/Mikocheni4,000SQM)

Office HQ (Kinondoni/Mikocheni/Kawe/Up to Bagamoyo

2,000SQM)

Appartments(Must be close to the Beach

2,000SQM+)

Logistics Godown(Industrial Plot preferably on main road

10,000SQM) x 3

Cement Factory (Not too far out of townNo Size Mentioned)

Appartments(Masaki/Msasani/Upanga

1,000SQM+)

MIKOCHENI / MSASANIMANDELA ROAD / PUGU ROAD

OYSTERBAY / MASAKIBAGAMOYO ROAD

INDUSTRIAL


Golden Rule 1: Risk is equal to yieldAs with any endeavour in life; the higher the risk, the higher the reward. To express this using our newfound understanding of cap (capitalisation) rates, we would say the lower the risk, the lower the cap rate. In other words, for an investment with low risk, the market would capitalise the rental income at a low cap rate (that is, a high factor); the market would apply a high cap rate (low factor) to rental income from a risky property.Consequently, the aim with real estate is not necessarily to seek the property with the highest return, but rather, the property with a good compromise between risk and return that is appropriate (and profitable) in your circumstances.If you can buy a low-risk property (low market cap rates) with a high return, you have found your deal of the decade. Golden Rule 2: Ensure safetyWhat is more important: return on capital or return of capital? What good is a ROI (return on investment) of 25% per annum if the investment goes belly up after two and a half years? Make sure your capital is safe, which includes insuring your properties against earthquakes, fire and other natural disasters. Golden Rule 3: Control your liabilitiesWhile we generally have control over our assets, we have relatively little control over our liabilities. In many parts of the world, it is impossible to fix the interest rate on your mortgage for more than a few years. For commercial property where you can, make sure you fix the interest rate on your bond.One of the big advantages of the real estate market in the United States, relative to many other countries, is that it is possible to obtain mortgages – even 30-year mortgages where the interest rate is fixed. I am astounded at the number of investors who choose not to fix their interest rate. For the sake of perhaps a 0.5% lower initial interest rate, they are willing to risk interest rates going through the roof in the future. It is a folly, committed not only by a legion of otherwise sane investors, but also aided and abetted by armies of mortgage brokers who, no doubt, receive larger

THE 13 GOLDEN RULES OF COMMERCIAL REAL ESTATE

INVESTING


commissions on loans that turn out to be more lucrative for the banks.Furthermore, you should avoid any requirement for a personal guarantee on real estate loans. The reasons are twofold: First, a real estate investment should stand on its own two feet. The risk of having a personal guarantee is that it may be called up, and you would be forced to pay off the principal debt component (or capital) on a loan taken out by an entity with limited liability. Signing a personal guarantee, of course, breaks this liability firewall.Second, when you apply for future loans, banks will often ask for a list of your contingent liabilities – liabilities that may end up on your shoulders. The more items on this list, the more reluctant a bank will be to lend you any more money.Golden Rule 4: Add value to a dealIf you buy a fully leased, commercial property at a fair market price, you are going to have to wait for inflation to increase the value of your rentals – and thus the capital value. Alternatively, if you buy a property with vacant space, with some rentals that are below market, rooftops that are underutilised, storage space that is not leased, and a host of other features that you can do something with, then you can exchange your ideas,

thoughts, energy and enthusiasm for huge chunks of capital value very quickly. In other words, you are an extremely important factor in the real estate you acquire.Another way of expressing this is to say that, when I buy a property, it is a different property from when you bought it. Physically, it is the same property, but with the ideas that I brought to the table, the property itself ends up being different. Whether you like it or not, you end up being part of the equation. That is why the more ideas you have in your head, the more value you add.The most valuable piece of real estate is the six inches, give or take an inch or two, between your right ear and your left ear. What you create in this space determines your ultimate wealth and happiness. Golden Rule 5: A broker or agent must bring something to the dealJust as you become a part of the equation, your broker, or buyer’s agent, must also bring something to the deal. Remember, in most parts of the world, sales commission is paid by the seller. If you choose to enlist the services of a buyer’s agent, make sure they contribute something of value, other than simply an email with present listings. Agents with whom I have worked over time know to bring me not just real estate listings, but also background information, pending zone changes, ideas for alternative uses, and even prospective tenants. Furthermore, they willingly make this extra effort, as they know that doing so will result in more deals being closed, and therefore, more commission for them. Golden Rule 6: Real estate is a long-term investmentOne of the aspects of commercial real estate that I particularly enjoy is that you can buy a property, have some rudimentary management in place, and then all but forget about it. In fact, you could take a six-month cruise and not have to worry on a day-to-day basis whether everything was all right. However, if you need more nail-biting, nerve-racking excitement, then trade stocks, where you generally have to monitor the market by the hour; or trade futures, where you have to monitor the market by the minute; or trade currencies or other derivatives, where you have to monitor the market by the second.Also, take note that you will not find many stock traders over the age of 50, many options traders over the age of 40, many

currency traders over the age of 30, or many futures traders over the age of 25. These nail-biting, glued-to-your-screen professions burn people out. They also require that their practitioners complete another deal to earn another dollar.Meanwhile, back on your cruise boat, you are reading books or mingling with people, knowing that your tenants will pay rent that month, whether you have worked or not. Never sell. When you sell, you lose your income stream from an asset that is rising steadily in value. Golden Rule 7: The number of voting partners is directly proportional to the failure of the projectThis rule is almost self-explanatory. It is a variation of the cliché ‘too many cooks spoil the broth’. The best way to avoid project failures through disagreements is to undertake all projects alone. However, there are always economies of scale and great synergies of ideas when you team up with others. The trick, as with all things in life, is to find a good balance between a free flow of many ideas and impasses through disagreements. Golden Rule 8: You are going to be in a lawsuitWhether you are averse to litigation or not, sooner or later, you will end up being in a lawsuit. Stay in good communication with people and try to think outside the box to come up with a solution that may be beneficial to everyone (and a lot cheaper in the long run). Golden Rule 9: It only takes one deal to go brokeAn accident generally comes about, not because one major thing goes wrong, but rather because a whole series of seemingly unrelated things come together simultaneously to cause the catastrophic event. In the case of real estate, interest rates might increase, tenant demand may go down, your space may become obsolete through new technology, a freeway may bypass your side of town, an airline may drop your local airport as a hub; all of a sudden you are facing a crisis that six months prior you had not envisaged and which any of these changes in isolation would

THE 13 GOLDEN RULES OF COMMERCIAL REAL ESTATE

INVESTING

Investment


not have caused.Never become complacent. Always keep your finger on what is happening in the market. Try to deal with all challenges as they arise and not as they come together to cause a big event. Fix your interest rates, keep your buildings modern by incorporating new technology, and find out how to keep your tenants happy with the premises they lease from you. Golden Rule 10: It only takes one deal to make a million dollarsJust as it takes only one deal to go broke, you can also make a million dollars from a single deal. When it comes to commercial real estate, it is not always a numbers game, where the more properties you buy, the greater the chance you have of becoming financially free. While, in general, two deals are better than one, you would be far better off working on one commercial property and managing it efficiently and properly, rather than taking on five projects and barely being able to keep up with which tenant owes how much rent. Golden Rule 11: The value of a property is limited by the tenant’s ability to pay rentThis rule is just another way of defining the cap rate. If you cannot find a tenant for a building, then your building will not be worth very much, and no banker will lend you money to buy or refinance it. Your ability to acquire a portfolio – and the subsequent value of that portfolio – depends on your ability to secure stable, long-term tenants.More particularly, the value of a building is not just dependent on what you manage

to get one tenant to pay in rent. What if you lost that one high-rent tenant? The value of a building is dependent on what rent you could get any tenant to pay, within a reasonable time span. Therefore, always work on improving the environment for existing tenants – it will make them reluctant to leave. Then, if or when they do leave, it will be that much easier to find replacement tenants. Golden Rule 12: Appreciation and inflation are compounded annuallyWhile appreciation increases the value of your portfolio, inflation erodes the value of money. This is supremely beneficial for real estate investors.Assume you have a portfolio worth R10 million, with a mortgage ofR9 million. Let us also assume that over time – for the sake of this argument it matters not how much time – the portfolio appreciates to R20 million. This does not mean that the R9 million mortgage appreciated to R18 million. The asset may have appreciated, but the loan was expressed in rands and, at worst (interest only), it stayed at R9 million. Furthermore, through inflation, that R9 million will be easier to pay off (as it is effectively worth less than it was before). This is one of the prime reasons to invest in real estate. These factors work, even when you do not. Meanwhile, flippers, traders and speculators have to keep on working to earn their next rand. Golden Rule 13: You cannot give kindness away – it is always returnedYou cannot beat a crook – even if you have a team of great lawyers, real estate agents, accountants, private detectives

and other professionals. If you successfully litigate and you get what you think you are owed, the crooks will have taken something else somewhere else along the way, not to mention all the wasted time, effort and energy that you put into dealing with these people in the first place, as well as cleaning up the mess they precipitated.There is only one solution: Deal with ethical people. You may not make money as fast, but it will last longer and you will feel better about it. One tremendous advantage of dealing with ethical people is that they tend to hang around with other ethical people. Your circle of acquaintances spirals into more and more enlightened levels of fairness, kindness and awareness. Conversely, when you hang with rogues and rascals, your circle of acquaintances tends to spiral into depraved levels of increasingly severe cheating and deception.Remember, you become the company you keep, so choose your friends and associates very carefully. Be firm about your expectations. Most disagreements come about because of a mismatch of expectations between two parties. Therefore, be aware of your own expectations, and equally important, discuss them with your associates. If you discover a chasm between your way of doing things and that of some associates, turn them into former associates. The world is too full of interesting, kind, knowledgeable and energetic people to be wasting time with takers, no matter how fancy the cars they drive or the homes they live in.By Dolf de RoosFrom Real estate investment magazine

Investment


Kunduchi BeachTownHouses

Palad International Limited presents a taste of quality ofInternational standards on the shores of the Indian Ocean, along the road to

Kunduchi Beach Hotels (Only 500meters away) Dar es Salaam Tanzania.

Formal Living Room | Formal Dining RoomGourmet Kitchen complete with cooker, hoover and oven

Master bedroom with ensuite, wardrobes and a private balcony2 spacious secondary bedroom all ensuite with built in wardrobes.

+255 754 827 592 | +255 755 999 [email protected] | [email protected] | www.paladinternational.com

Sophicated Luxury Homes

An Investment in Quality and Style

Swimming Pool

24hr security detail

Ample Parking Space

Cental Power Backup Generator

Private area at the rear of each unit

Water Storage facilities for each unit

Carport

Palad International LimitedReal Estate Developer

Amenities


Diamond Plaza is a newly developed commercial building located in the business hub of Dar es

Salaam, conveniently situated on Mirambo Street intersecting with Samora Avenue. The modern

executive offices and shops have completed ceilings and floors, as well as Central Air-conditioning

system.

Diamond Plaza is the ideal location for your new office, with the best view. It is in close proximity to

Serena Hotel Dar Es Salaam, City Centre, and Government offices. The property offers many

well-known brands including KFC Restaurant, New York donuts, Subway, black tomato as well as a

supermarket and many multi-national offices.

DIAMOND PLAZANOW RENTING




!

!"#$%&'%(&)"*+&!%% ,-+)$%./01%23456% ,-+)$%./07%23456% )8"!9$%2:6%!"#"$%& '('('& )*+*,& +-&./"01"& -,,,,,& 2',,,& 3-+&45#6789"5& :,2;;& '-,,,& -'&<="&>#6"67& *,:;)& :+,,,& (;&!#"#"0%& :*),,& *2',,& 3-,&!%$?@A70%& ;-+:;& ;(,,,& -B*&C"D7& (+',,& (),,,& ((&C%E%6?05"F"& -2(,,& (;,,,& +-B2&!97G%&H7"@A& )(,,& --;,,& (+B)&!

!

!"#$%&'%(&)"*+&!%% ,-+)$%./01%23456% ,-+)$%./07%23456% )8"!9$%2:6%!"#"$%& '())& '*)+& ,-.&/0#1234"0& 5'))& ')56& ,7&89"&:#1"12& 56))& 5'))& 5-(&!#"#";%& 65+*& 67))& <(&=>";?"& 67.7& 65))& 6&!%$@AB2;%& 7755& ,.57& <,6-'&C"D2& 7)'7& 75()& 7)-5&!42E%&F2"AB& ,*+*& ,*)+& <6-6&C%G%1@;0"H"& 5*)& '((& 7)&!

!

!

!

!

!

!

!

!

!

!

!

!

!

!

!

Institution Interest Rate (%)

Mortgage Type

Tenure (Years)

L.T.V Ratio (%)

Azania Bank 15-19 Fixed 15 80

CBA 19 Fixed 15 90

KCB 18-21 Fixed 20 80

B.O.A 18 Fixed 15 90 Stanbic Bank 20 Variable 15 80 N.M.B 19 Fixed 15 80 CRDB 18 Fixed 20 80 Exim Bank 20 Fixed 15 80 Bank of Baroda

16-19 Fixed 15 80


Free land offers to the National Housing Corporation (NHC) by town and municipal councils will only reduce construction costs

borne by the firm by 20percent.Even though this would not assure customers of affordable houses as most of the structures would sell at between 28m/-and 30m/-Speaking to the Guardian in an exclusive interview in Dar es Salaam yesterday, NHC Director of Business Development, David Shambwe explained that the free plots of land will reduce construction cost by 20 percent. “Once we are able to acquire the land from municipal councils we will be able to cut down construction cost by 20 percent… for that matter, prices of the houses are also expected to plummet,’’ he said.According to Shambwe, currently prices of NHC house range between 34m/- and 50m/- which he said could drop to between 28m/- and 30m/-. He said with a positive response from the municipal councils, the Corporation will be able to build affordable house for various groups of people including teachers, health workers and ordinary citizensShambwe explained that buyers are allowed to pay in installments but at first the buyers is required to deposit 10 percent of the total value of the house in one of the banks that works with NHC under the mortgage system while the remaining amount is to be paid over a period of between 15 and 20 years.He further advised municipal authorities

to purchase the houses for their workers.President Jakaya Kikwete made a directive to town and municipal council to allocate plots of land the National Housing Corporation (NHC) under the mortgage system while the remaining amount is to be period of between 15 and 20 years.He further advised municipal authorities to purchase the house for their workers. President Jakaya Kikwete made a directive to town and municipal councils to allocate plots of land for the National Housing Corporation (NHC) to enable the state firm to build affordable houses for Tanzanians during his official visit to Tanga Region last weekMeanwhile, Alphonse Mwakangale, a Dar es salaam resident appealed to NHC to further reduce the price of the houses to enable low income earners to afford them.He said 30m/- is still too expensive, “the least I can afford is to purchase a house sold between 10m/- and 15m/-’’ A primary school teacher, Rehema Mubarak recommended NHC for doing a good job but said the price is too high for ordinary citizens hence very few people can afford the house.“When a house is built by NHC we are sure of its quality and the idea of selling the house to ordinary citizens is great but most of us with low salaries cannot afford them” he said.According to President Kikwete, construction of the affordable houses is expected to give proper settlements to many people and adorn the municipal councils.In October last year, NHC officially launched the sale of its 496 low cost houses under a project dubbed ‘My House-My

House My Life’ in 11 regions.The houses were sold at a cost of between 36m/- and 41m/-(VAT executed) and between 43m/- and 49m/- (VAT included)The houses are in Movomero |(Morogoro), Mkinga (Tanga), Mtanda (Lindi) Mkuzo (Ruvuma), Bombambili (Geita), Mlole (Kigoma), Ilembo (Katavi), Kongwa (Dodoma), Unyankumi (Singida),Mrara (Manyara)and Kibada(Dar es salaam).

Wriiten By:Devotha Mwachang`aThe Guardian

‘FREE LAND OFFERS WON’T MAKE NHC HOUSE

AFFORDABLE TO ALL’


6.5 ACRE LAND in Tabata. Title deed, 8 buildings suitable for warehousing, The

area is 3 km from the airport and 600m from the Tabata main road.

$ 800,000 (negotiable)

PLOT FOR SALE- BAHARI BEACH Size: 4919 m2

Clean Title Deed, Suitable for: Apartment projects, hotel projects or any other commercial

related investment.1km to Silver Sand Hotel.Price USD 350,000 negotiable

23 acres beach plot for sale in Kigamboni Mbutu Village. 22kms from the ferry. It is the area before Amani Protea Hotel and

Ras Katani. With title deed, facing the sandy beach @ $ 40,000 PER ACRE.

CONTACT US:Mobile: +255 755 181 222

Website: www.bryanstonproperties.co.tz Email: [email protected]

Located at: Samaki, Nangela Plaza - Mbezi Beach

Please visit our website for more updated listings uploaded daily (over 200 listings available for your perusal)

4 bedroom house (2 ensuit), garden, 24Hr security, a stone-throw away from the ocean, peaceful South Coast Beach

(Gezaulole, Kigamboni). Rent USD 1200/month.

3340 SQM PLOT with brick wall fence for sale, Mbezi Beach Africana Majumba

Sita with a title deed. Suitable for apartment buildings and residential. $565,000

1 storey, 4 bedroom house in Mikocheni kwa

Mawaziri, all rooms self-contained, A/c with a

beautiful garden, servant quarter, electric fence on

1000 sqm plot : sale @ $ 900,000 ( negotiable).

Rent $ 2300 per-month.

Located few meters away from Kilwa Rd Highway. 8 warehouses ranging from 349m2 inclusive of 24-Hr

Fire Alarm & Security System, Pest Control, Comput-

erized Bar Code Tracking System, Truck Scales. RENT

at $8 per m2. per month., SALE (negotiable)

3 bedroom apartment, all self-contained with a/c,

in Mikocheni “A”.4 units in a compound.200m from

both Mwai Kibaki and garden road Kwa Nyerere.

Generator, 24 hrs security, beautiful gardens, $2000

per month.

30 apartments in one compound, Mbezi Beach Tank Bovu.

1 bedroom -$350, 2 and 3 bedrooms -$650, inclusive of Service charge.

Plots with Title deeds for sale

-BUNJU “A” per m2 - TSH 16,000-Goba Mtambani per m2 - TSH 15,000-Gezaulole kigamboni per m2 - TSH 16,000-Mbezi Beach Tank bovu - 1600 m2 $ 95,000 -Ununio Tegeta - 2400m2 $ 125,000-Mbezi Beach - 4500 m2 facing Bagamoyo Rd, $1m-Mbezi Beach - 2300 m2 second plot from Bagamoyo Rd, with two apartments, $700,000

CALL FOR MORE PLOTS ALL OVER

DAR ES SALAAM.

Apartments for rent in Bahari beach, 8 UNITS in one

compound, 1 bedroom, fully furnished with a/c,

standby generator, 24hrs security, club house, facing

the Tarmac rd, short term

rentals at $ 600 per month.

Plots for sale in Kigamboni Mwasonga, NOT surveyed farms with village land

certifi cates, 35km from Ferry, Near Dar es Salaam Zoo. $3500 PER ACRE (5 and 10

acres AVAILABLE)

1 storey, 4 bedroom house with A/C, 2 self

contained rooms, 2 seating rooms,servant quarter,

garden, Paved blocks, lock-in- garage. Facing the

Tarmac Rd. Mbezi Beach Africana on a 1000 m2 plot.

Sale: $ 420,000, Rent: $ 1200 per month

We are your pathway to Real Estate management:-Selling, Buying, Managing properties, Rentals and Leasing of:

-Residential-Commercial

- Plots and Lands

1762 SQM corner PLOT for sale in Ununio , 200 meters

from the Tarmac Rd, $62,000 with title

( original price $120,000)

2222 sqm plot for sale with brick wall fence in

Salasala IPTL RTD near Tarmac Rd, with title deed.

$120,000

Kunduchi Beach / Kilongawima; near police quarters,

2 plots in one

compound, 2 title deeds, both 1900 sqm, $ 120,000

negotiable; when build 1

storey house you will enjoy the best ocean view.

www.bryanstonproperties.co.tz


Q: Hello. I am a diplomat residing in Tanzania and have recently been faced with a situation that requires your help. Can you please tell me, do diplomats have to pay Stamp duty on transactions involving real estate made whilst on diplomatic missions? JQ A: Hello JQ, well sadly we don’t have much information to give you a more comprehensive answer to your question perhaps once you have read this and inquire more, you will provide us with more to go on. However to answer you basing on the information at hand, the law is that, diplomatic Missions are exempted from paying such duties, this is provided for in the first schedule to the Diplomatic and Consular Immunities and Privileges Act, CAP 356 [RE:2002] which incorporates Articles of the Vienna Convention on Diplomatic Relations under Article 23(1) that reads as follows: “The sending state and the head of the mission shall be exempted from all national, regional or municipal dues and taxes in respect of the premises of the mission, whether owned or leased, other than such as represent payment for specific service rendered”. Furthermore, the second schedule to the Immunities and privileges Order which are made under Section 19 of CAP 356 [RE:2002], paragraph (iv) provides immunity for Stamp duties and land registration fees in respect of transactions relating to his official premises and principal residence. We hope this helps.

Q: My name is Juma, a resident of Dodoma. I had a plot at a very lucrative area but about two years ago I sold it to a friend of mine. However a week ago someone else came to me claiming that I had sold it to them about 7 years ago. They have my name and a signature on the documents that were used for the transfer. They claim to have paid money through a person with a power of attorney to execute the sale. They say that i have fraudulently involved with that other person to defraud them in purchasing the said plot. I have never signed those documents and I don’t know those people. I know that they have forged everything and this amount to fraud, I think. If we go to court will they be entitled to their own fraud?

approval of the land officer was void and the registration of the transfer by the registrar of titles was similarly void. Hence a person cannot be entitled to their own fraud.

Q: I have a Real Estate Management company that was registered in 2010 and I want to make changes to the memorandum and articles of the company. How do I go about it? Is there some sort of a procedure to follow? Thank you PM

Hello PM, well The Companies Act, CAP 212 [RE 2002] provides for modes in which and the extent to which memorandum and articles of association may be altered. However the alteration of the provision of memorandum must be with respect to the objects of the company by passing special resolution. The procedures for alteration of memorandum of the Association of the company are provided for under Section 8 of The Companies Act, CAP 212 [RE 2002] cited above, that: (1) Alteration

Well we are very sorry about your situation sir and the stress you have been going through. Well the Land Act cap 113 [RE 2002] under Section 29 demands that a certificate of occupancy need to be signed and sealed by the commissioner. It goes further to say that the person to whom the certificate of occupancy is issued have to sign at the bottom of the certificate to show the acceptance of terms and condition of that certificate of occupancy. This can be used as proof, the documents purporting to transfer ownership of a right of occupancy must be registered otherwise those document are invalid and ineffectual. Also from the facts of the case it clearly shows that the supporters were doing this to deceive the buyers or in the long term to deceive the court so that the court can enter judgment in their favor to which will not happen. In the case of Othman Kawila Matata .v.Grace Titus Matata TLR [1981] 23 the defendant caused the deceased person who was proved by the medical consultant to be of not the right mind and could not make rational judgment to execute deed of transfer in her favor. The transfer was approved by the registrar of title. In court, the judge was of the view that deed of transfer was acquired by fraud for the reason of state of mind of the deceased person the transfer was void, the

Ask the Expert Real Estate Laws


to be done in general meeting.(2) Proper notice of general meeting for 21 days with agenda item included. Read Regulation 40 of Table A of the companies Act, cap 212 (3)Special resolution must be passed as per section 8 (1) of the Companies Act, Cap 212(4)The company must petition to the High court to confirm alteration 21 days from the day memorandum of association is altered. If the court confirms that alteration, it will then issue Certification of Confirmation.(5)If no application is made in respect of cancellation of the said alteration within 30 days after the date on which the resolution altering company’s memorandum was passed, then within 14 days from the end of the period for making such application, the company will take the certificate of confirmation with altered memorandum to the registrar of the companies for registration. See section 8(2) and 8(9)(a) of the Companies Act, Cap 212.

However, with regards to the alteration of the articles Section 13 of The Companies Act Cap 212 [RE 2002] provides for the alteration of Articles of Association of the Company. The procedures are as follows; (1) Alteration be done in general meeting (2)Proper notice of general meeting for 21 days with agenda of altering company’s articles of association. As per Regulation 40 of Table A of the Companies Act.(3)Special resolution must be passed as per section 13(1) of the Companies Act Cap 212 (4)Submitting to the High court the altered articles and special resolution within 14 days for the High court to satisfy itself on whether proper procedure was followed. If the High court confirms, then it will issue Certificate of Confirmation which then together with altered Articles must be taken to the Registrar of the companies for registration. The procedures for altering memorandum and articles of association of

the company are almost the same. You should however take note that, any alteration whatsoever shall be in the mode and to the extent for which express provision is made under The Companies Act.Please do send us your question to:[email protected]/[email protected] mail it to :ABC ATTORNEYS.IT PLAZA, 8th FLOOR, OHIO STREETP.O.BOX 105722, DAR-ES-SALAAMTANZANIA (EA)Tel: +255222110236/0713055195/0786624901For more information, you can also read other articles online atwww.abcattorneys.co.tz

Ask the Expert Real Estate Laws


www.dayliff.com

22 2112515/6 • 22 2184867

27 2547317/8 • 24 2234660/1 • 28 2541971/2

DAR ES SALAAM: KARIAKOO:

ARUSHA: ZANZIBAR: MWANZA:


Disclaimer• The Darproperty Magazine is only a property guide where real estate owners or their agents and or their real estate brokers place their property’s sale or rent information with or without pictures.

• The Darproperty Magazine does not take any part in selling, buying, or renting transactions.

• All transactions are governed by your local laws. All offers and promotions on this magazine are subject to change without notice.

• The Darproperty Magazine provides you, our readers, a venue for obtaining the information contained in this publication and has no control over the legality of any real estate for sale or rent or other offers made by advertisers, the ability of any of the advertisers to complete the sales in accordance with the offers, or the quality of the real estate offered by the advertisers real estate information for sale and or rent is directly published by the advertisers on this publication and hence The Darproperty Magazine takes no responsibility of any of their information and prices and any mistakes in printing or typing. The Darproperty Magazine has no control over whether Advertisers will honor the offers shown on this publication and does not guarantee the accuracy or completeness of the information contained on this publication.

• The advertised real estates and properties on this publication may or may not be available for sale and or rent. In the event you have a dispute with an Advertiser in any way relating to this publication or the use of information from this magazine, you agree to waive and release The Darproperty Magazine from any and all claims, demands, actions, damages (actual and consequential), losses, costs or expenses of every kind and nature, known and unknown, disclosed and undisclosed relating to that dispute.

REAL ESTATEThe ABCs of REAL ESTATE MARKETTOPOGRAPHY The state of the surface of the land; may be

rolling, rough, flat, etc.

Example: The topography in Oklahoma is mostly flat; in West

Virginia, mountainous; in Ohio rolling.

REDUCTION CERTIFICATE a document in which the MORTGAGEE

(lender) acknowledges the sum due on the MORTGAGE loan.

Used when mortgaged property is sold and the buyer assumes

the debt.

Example: Abel buys Baker’s home and agrees to assume the

existing mortgage. They obtain a reduction certificate from

the mortgage lender stating that the remaining balance is

$34,567.89.

GENERAL WARRANTY DEED a DEED in which the GRANTOR

agrees to protect the GRANTEE against any other claim to TITLE

of the property and provides other promises. See WARRANTY

DEED.

Example: Abel received a general warranty deed for land he

bought from Baker. Five year later a defect is found. MRs Cabel,

whose deceased husband sold the land to Baker, actually owns

one half on the property. Abel can claim restitution from Baker

for the half because the deed warranties against all defects

GIFT DEED a DEED for which CONSIDERATION is love and

affection and no material consideration is involved.

Example: Abel, who is on the brink of BANKRUPTCY, EXECUTES

a gift deed to his wife. Since there is no consideration and the

apparent reason for the transfer was to remove the property

from the reach of Abel’s creditors, the deed might not be valid.

In other situations the gift deed would be upheld.

HOLDER IN DUE COURSE one who acquires a BEARER

INSTRUMENT in GOOD FAITH and is eligible to keep it even

though it may have been stolen.

Example: Abel receives from Baker a $100 bill in payment of

rent on his apartment. Police inform Abel that the bill was stolen

by Baker from Cobb. Since the bill is bearer paper and Abel

accepted it without knowing about the theft, he became a holder

in due course and is allowed to keep it.

MBEZI BEACHMBEZI BEACHMBEZI BEACH

+255 789 55 12 42

500meters from the main road

$1.2m

4 BEDROOMS

3 BATHROOMS

3 LIVING ROOMS

SERVANT QUARTERS

FULL AC

3500 SQM

1 COMP. ROOM

GARAGE - TWO CARS

NEAR ENGEN-PETROL STATION

ForSaleForSale


CLASSIFIEDSmbez

i bea

ch

3 Bedrooms, 2 Bathrooms, Sitting room,Dinning Room, Kitchen, Storeroom,

Ample Parking, Garden.0754 304475

RENT $1,000 Full furnished , 2 Bedrooms, 1 master,

spacious sitting room, public toilet, kitchen , store, two balconies, garden

0658 633808/ 0755 546 305

AREA: 2400 SQM

0754 /0715 - 814780

Furnished Apartment 4 Bedrooms,2 Bathrooms, Sitting room, Generator,Swimming pool, Gym Ample Parking,

0754 /0715 - 814780

5 Bedrooms, 2 Bathrooms, , AC ,DSTV, Kitchen, Ample Parking, Garden.

0787 040 401

1 one acre, Ideal for petrol station0715/0784 281851

mbezi k

wa msuguri

House for sale Size; 3900sqm0759 33 94 95

SALE $50,000 Double storey House for sale

0782 362 218

kijitonyama,

A one flow uncompleted building for commercial or home usage,

28 to 17.5 meters, seven(7) Rooms.0717 545 030 / 0756 446 882

SALE $275,000

mikocheni -

b

Parking, Air condition, Garden24 Hr Security, servant quarters

Tenant paying rent of $3000 per month.0716777999/0777568899

SALE $695,000

mbezi -

kimara

Mbezi, Malamba mawilioff Morogoro road to kinyerezi.

55,000 litres of reserve water tanks0767037735

RENT $1,500

masaki

4 bedroom house , along Chole road2master bedroom, 2other roomsideal for residential / commercial

0713 610922 / 0787 610922

RENT $ -

kigamboni

Kibada, 40M from the main Road,4 Self contained Bedrooms, Study room5000 litre Water reserve, Nice Garden

0713467660

RENT $1,000

mikocheni

300 sqm, 25 meters from Cocacola rd.Opp. East Africa International school

0713294486 / 0766422346

SALE 450m

mikocheni

3-Bedroom apartment in the flats0655575734

RENT $1,800

mbezi b

each

5 Bedroom House,White Sands round about

0754269298

RENT $1,200

gezaulo

le

636SQMGezaulole Temeke Municipality,

0715913814 / 0784913814

SALE 15m

mwenge

3 bedrooms house, servant quarter,garage has aluminium doors andwindows suitable for an office.

0713 228931

RENT

ada estat

e-arush

a

3 bedroom and An auxiliary building,servant quarters

0786259854/0767259854

RENT 150m

goba- dsm

Four bedrooms, next to St . Joseph millennium secondary school

0767264900

RENT $2,200

LIST YOUR PROPERTY HERE FOR ONLYTSHS 30,000/= VAT EXCL.simply call 0767 200 202

[email protected]

RENT $900

mlimani c

ity

teget

a

sale

mlala

kuwa

RENT $2,500

RENT $1150

mbezi b

each

SALE 100m

kibaha mkuyani

sale 550m

bahari bea

ch


Darproperty Mortgage is a mortgage brokerage services offered by DarProperty Tanzania.The service is offered in partership with Local and International mortgage lenders,

to ensure seamless process from the mortgage Loan application to closing.

For Details [email protected]


MY BEACHOld Bagamoyo Rd. opp Yuasa auto impexP.O BOX 105200. Dar es SalaamTel; +255 22 2701710

NIKUZE REAL ESTATE AGENCYMorogoro RoadP.O Box 10032 Dar Es SalaamTel: +255 789/754/715/ 363 800Email: [email protected]

PHOTO & CO.ESTATEKahama Road/Msasani peninsulaP.O BOX 105121 Dar es Salaam.0786 962 444Email; [email protected].

PROPERTY CONSULTANCY & SERVICES LTD2nd Floor Kevin House - Samora AvenueP.O BOX.7152 - Dar Es Salaam+255 22 2120402, +255 713 690 [email protected]

PRESTIGE PROPERTIESPhone: +255-713-764-447/ 0767471293Tel:+255-22-266-4373Email:[email protected]

SKYMARK REALITIES LTDZanaki st. - Alimanga bldgTel: +255 22 2 134422/33

Tanganyika Estate AgentVillage Walk, close to Sea Cliff Hotel+255 717 032 [email protected]

TRELD COMPANY LTDP.O BOX 7656 Dar es SalaamLocation Msasani Peninsular off toure drive+255 732 222 888, +255 716 777 [email protected]

ARUSHA AWESOME HOMES AND PROPERTIES. Shanti House,Plot 58 Block E Sokoine RoadP. O. Box 249 Arusha, [email protected]+255 754 337 899 / +255 786 337 899

HOMES & PROPERTY AGENCIES LTDLand Surveyors & Property ManagersP. O.Box 10079 ArushaBoma Rd. Arusha0787 [email protected]

Tanganyika Estate AgentShoprite Complex,+255 785 984 [email protected]

ZIPO HOMESRivergardens Business Park, Rm 4P.O Box 20 Usa River, Arusha+255 787 474 580/+ 255 754 320 [email protected]

MWANZAESTATEMwanzaestate.com+255 714 245 [email protected]

Zanzibar - properties.comTel: +255 774 44 19 07Hotel Marine - Malindi Zanzibar

ABLA ESTATE DEVELOPERS & AGENCY CO.LTDMikocheni Opposite Shoppers PlazaP.O BOX 3810, Dar es SalaamTel +255 22 2772506E-mail: [email protected]

+255 755 181 222 www.bryanstonproperties.co.tz [email protected]

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

GOLDBERG COMPANY LTDReal Estate & Mining TradeP.O. Box 22159 Dar es SalaamOld Bagamoyo Rd, Mikocheni B,0715 270 517 / 0754 270 [email protected]. goldbergtz.com

HAMPTONS PROPERTIES TZHaidery plaza - 1st floorupanga/kisutu streetP.O.BOX 6547 [email protected],[email protected] 204083/ 0784 323133

NEW DAY PROPERTY AGENCY COMPANYMwinyijuma Road - Kinondoni,Room no.84, UVCC Complex+255 753 645 434, +255 717 035 552+255 767 575 758www.facebook.com/ raymond samson Laizer

KEY REAL ESTATE SOLUTIONSRegent Chwaku North UrsinoTel: +255 22 27016740715 053 803, 0786 053 803,0754 28 46 84mariam@keyrealestatesolutionstz.comwww.keyrealestatesolutionstz.com

Real Estate AgentsDirectory in Tanzania

DAR ES SALAAM ARUSHA

MWANZA

ZANZIBAR

ENHANCE YOUR VISIBILTY & CREDIBILITYGET LISTED HERE WITH YOUR LOGO

Tshs. 48,500/= Monthly / Tshs. 500,000/= Annually+255 784 23 89 62, 0688 75 18 68 | [email protected]


chokoleinvestmentl i m i t e d

T h e U l t i m at e O u t d o o r S o l u t i o n s

Mikocheni, Garden Road, Dar es Salaam, Tanzania.+255 786 924373, +255 658 924 373

Worry Free - Money BackGUAR ANTEE

P R O F E S S I O N A L

Designers & Installers of:

Car Shades, Gazebo

Electrical Gates

& Umbrellas

ARUSHA


ABC ATTORNEY........................................20&21

AFRICAN VILLAGE ESTATE.............................32

AKIBA COMMERCIAL BANK...................18&19

BRAYNSTON.......................................................25

CHOKOLE.............................................................37

DAVIS & SHIRTLIF.................................................29

GEM.......................................................................12

HALIC CONSTRUCTION.......................................2

HONG XING........................................................13

INFINITE................................................................35

JAMII FORUMS...................................................39

JJP INSURANCE..................................................33

KAMA CONSULT................................................29

LAPF.................................................................1,6&7

LIFE MATE................................................................3

MASUMIN.............................................................26

NEVADA COINS............................5, 8,20,21&40

PALAD INTERNATIONAL.....................................17

SPIK N SPAN........................................................33

TANGANYIKA ESTATE MANAGEMENT...........27

TANZANIA BUREAU OF STANDARDS..............10

PATRON PAGE NO

PATRONS

ADVERTISERS

INDEXIf you like what you are reading

Buy from our Advertisers, remember to mention you saw theirAdvert in this magazine

A wise man will make tools of what comes hand

Advertise with US

DAR ES SALAAM022 27805170784 238 962 / 0713 751 [email protected]

MWANZA0714 245 779

ARUSHA0787 805 566


Be informed, Engaged &

Entertained,

www.jamiiforum.com


Renaissance Plaza is an upcoming commercial building located in the prime area of Masaki, conveniently situated on Haile Selaise Road, Masaki. Renaissance Plaza is the ideal location for your new office. It is in close proximity to colosseum Gym, Supermarkets and Restaurants.

The modern executive offices and spacious shops have completed ceilings and floors, as well as Central Air-conditioning system. We offer Space for Rent for Offices, Shops, Restaurants and Supermarkets.

RENAISSANCE PLAZA

+255 (0) 689 578 785 [email protected]

For rental enquiries please contact

Coming Soon

darproperty august 2014 small

Documents

darproperty tanzania

dar es salaamslipwayj

ovenpizzeriacasinocofee

written consent

pharmaciesairport terminal

newspaper act

copies of darpropertymagazine

postmaster general