darproperty feb 2016

The Darproperty - August 2015 | 1The Darproperty - February 2016 |1

The

Issue No 46 | ISSN 1821-7753East Africa’s Ultimate Property GuideFebruary 2016

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Featuring Properties from Tanzania & Kenya

2 | The Darproperty - February 2016


For most people in Tanzania, it is very difficult to buy a home with own money. Few people can afford to get millions of Tanzania shillings together to put down as lump sum. Therefore a mortgage comes in handy to make the purchase

affordable by spreading the payments towards the house over many years, since the payments towards the home are spread over years, the periodic payments are manageable and affordable.People who buy home through mortgage loan could save USD 18600 a year by purchasing a home rather than renting one.Monthly mortgage repayments on a residential property work out cheaper than renting a property in all areas surrounding Dar es Salaam region, on average the monthly payment for mortgage is USD 950, while rent normally sets people back USD 2500 a month on average for a four bedroom property according to Darproperty, the average mortgage repayment for a home buyer is just USD 950, saving them USD 1550 a month.Rising rents in many areas has made it cheaper to buy a home than rent one. Although the interest rate charged by Mortgage lenders in Tanzania is too high compared to other countries, to rent a home remain too expensive than buying. Currently the average interest rate for several mortgage lenders stand at 18% with the 20% down payment.There are significant disparities in amount of rent for home across the region, although it still cheaper to buy a home than rent in all areas.

People in Oysterbay and Masaki stand to save the most by getting onto the property ranking. Average monthly mortgage repayments in the region are USD 2600 less than rents.They are followed by home buyers in Ada Estate, who are USD 2500 better off a month than renters.At the other end of the scale, first-time buyers save just USD 1248 a month compared with renters in Upanga. And it is only USD 179 a month cheaper to buy a home than to rent one in Kijitonyama.Buying a home with Mortgage loan involves several upfront costs such as Stamp Duty, solicitors’ fees and valuation fees but the most challenging cost for many applicants is down payment. Buyers required to make a deposit of 10% to 20%. Those who buy a property are gradually acquiring an asset and house price benefitting from rises. Buyers could save USD 18600 a year by purchasing a home rather than renting one and this is because, it is cheaper to buy a home than to rent one in all areas of the Dar es Salaam.

HOME OWNERS ARE BETTER OFF THAN RENTERS IN DSM

For most people in Tanzania, it is very difficult to buy a home with own money.Few people can afford to get millions of Tanzania shillings together to put down as lump sum.

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Development of any country always depends on the proper tax collection,

revenue from tax, helps in facilitating other development programs like Infrastructure, schools and hospitals. Individuals must understand and be proud to a role in the development process of their nation by paying their tax dues without evading. Real estate transaction involves several taxes, but there is one type of tax which is not common for many people but it is very important, The Stamp Duty.Stamp duty is the tax placed on legal documents usually in the transfer of assets or property, it is also referred as transfer duty because it is the revenue charged by states on various types of transactions such as transfer and agreements for the sale or rental of real estate, mortgage and insurance. It is customary in the common wealth countries and certain states in the United States.The transfer of documents in locations where this law exists, is only legally enforceable once they are stamped, which shows the amount of tax paid. Historical background indicates

that stamp duty was initiated when the Stamp Act of the Tanzania main land Parliament was passed in 1972, came into operation on July 1972 and revised in 2006.In Tanzania, all authorities have the same levy with stamp duty, but in some countries each region has its own levy stamp duty calculated differently.With house prices rising rapidly more and more homebuyers are having to pay stamp duty, though what amount exact you pay depends on the property’s price. According to the stamp duty Act, any instrument relating to any property or thing performed in Tanzania mainland must be charged either executed in Tanzania mainland or if executed outside Tanzania mainland.Depending on the circumstance, this tax can be paid by the purchasers or the borrower at a flat rate or based on the value of the transaction. In Tanzania, stamp duty fee is 1% for receipt for any money or any other property. The stamp duty act specifies the persons to pay stamp duty where in most cases it is payable by the person drawing, making or executing the instrument.

STAMP DUTY ON REAL ESTATETRANSACTIONS

IN CASE OF

PERSON LIABLE TO PAY

Lease Agreement

Lessee

Mortgage Deed

Mortgagor

Certificate of Sale

Purchaser of the property

Insurance

Person effecting the Insurance

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4 Rooms Air condition Coference hall Strong roomArea-Mwaloni Ideal for Banks

3 Bedrooms 3 Bathrooms Lake view Ample parkingGround store Safety guarateed

Nyerere road 546 square meters Main road located

300sqm eachHigh wall around the placeArea-Igogo/ Near town

3 Bedrooms Near main road/airport Renovations on tenants requests

5 Bedrooms @selfcontainedConference room2 garages Lake view

3 Bedrooms 2 BathroomsLake view

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1493 Sqm Servant quoterPrime location2 Houses, 3 bedrooms each

4 Bedrooms 850 SqmFenced Prime location

3 Bedrooms 2 BathroomsHot water Security guards 24hrs

5 Bedrooms 4 Bathrooms Fully furnished Annual rental only

5 Bedrooms 5 BathroomsHot water laundry roomFurnished Air conditions

3 Bedrooms 3 BathroomsHot water360 Balcony

1 Acres Lake shore plotAccessibleNear Jembe Beach

3 Bedrooms 2 BathroomsNear main raodIdeal for official use

OFFICE FOR RENT OFFICE SPACE FOR RENT FOR RENT - Capri point GODOWN FOR RENT

FOR RENT - Ghana FOR RENT - Capri point FOR RENT - Capri point FOR RENT - Isamilo

FOR SALE - Capri point FOR SALE - Bwiru

PLOT FOR SALE - Luchelele FOR SALE - Isamilo

$2200 $2800 $1000

Tshs. 500,000/-

$400

$3500 $1000 $2000

$1500

Tsh. 290m

$250,000 Tsh.350m

$2500

$1200

FOR RENT - Bwiru FOR RENT - Bwiru Bima

FOR RENT - Bwiru FOR RENT - Ilemela

Tshs. 500,000/- $1000

$1000 $1000

REAL ESTATEThe ABCs of REAL ESTATE MARKET

Utility Easement: Use of another`s property for the purposes of laying gas, electric, water, and sewer lines.Example: A property owner grants a utility easement to the electric power company to extend power lines to the owner`s home.

Vacancy and Collection Allowance:An estimated amount to be deducted from the potential gross income when preparing a budget. The vacancy rate budgeted may be the rate being experienced or forecasted for the market for the coming year, or a higher or lower amount depending on tenant loyalty, rent concessions, or management quality.Example: In a college town, the apartment vacancy and collection allowance expected was a blend of 5% during the 9 month regular college term and 25% during the summer session. Overall, it was 10%.

Subjective Value:An estimate of a property`s worth based on the opinion of the owner.Example: Although the house was worth less than $50,000 on the market, Joan felt its subjective value was much higher because she had grown up in the home and associated many good memories with the place.

Redeemable Rent:In a lease with a purchase option, the rent paid that can be applied toward the purchase price.Example: In a fi ve year lease/purchase with a rent of $10,000 per year, the last year`s rent was redeemable rent; it could be applied in full to the purchase price.

Mortgage Note the document that states the names of the borrower and LENDER, amount borrowed, Interest rate, repayment terms, and other loan provision. The MORTGAGE pledges property as COLLATERAL; the mortgage note provides the amount of dept and repayment.

Potential gross income the amount of income that could be produced by a real property assuming no vacancies or collection losses. Does not include miscellaneous income. Contract with CASH FLOW, NET OPERATING INCOME.Example: An offi ce building have 10,000 square feet of rentable space and rents for an average of $12 per square foot. Potential gross income for the building is $120,000 per year. Concessions on the ground fl oor that contribute $1,000 of annual revenue, and a 5% vacancy and collection allowance are not included in potential gross income.

Strip development or strip shopping centre a form of commercial land use in which each establishment is afforded direct access to a major thoroughfare, generally associated with intensive use of signs to attract passersby. Generally without an ANCHOR TENANT

COMMON PROPERTY property owned equally by all member of a group. Example :The following are example of common property:• Recreation area of cooperative apartment building • Park in municipally


for another term. In 2016, many people are pessimistic after the recently introduction of TSA (Treasury Single Account). What is TSA? Single Treasury Account (TSA) is a public accounting system under which all Government revenue, receipts and income are collected into one single account. The TSA is maintained by the Central Bank of Tanzania.The essence of TSA is to ensure accountability of Government revenue. The maintenance of a Treasury Single Account will help to ensure proper cash management by eliminating idle funds usually left with various commercial banks. All Government Ministries, Departments and Agencies are required to remit their revenue collections to this account through the individual commercial banks who act as collection agents. The cash collected by these banks will have to be remitted to the Consolidated Revenue Accounts with the Bank of Tanzania at the end of each banking day. The Pessimists argue that the commercial banks will be affected immensely because of the huge drop in their deposits and perhaps the interest rates on the deposit will soar and therefore an increase in the interest rates, moreover, they will have to re-strategize their workforce by retrenching

the back office staffs and hire more sales/marketing executive to secure more deposits. My prediction is, there will be a fall in the mortgage lending rates with the introduction of TSA. How? With the TSA the government will stop borrowing some for its own money from the commercial banks through the issuance of Treasury bill/bonds, because of poor government revenue collection, the government was always a desperate borrower therefore borrowed at a high interest rate, these rates become the benchmark for lending in the commercial banks and inter banks’ lending. With good liquidity, the government through the central bank will be the lender of last resort setting a much lower benchmark when lending the commercial banks. The government will also regain its grip on effective realization of its monetary policy therefore lowering the interest rates to ease finance accessibility to the public.

Prediction two: More low cost housing schemes: In the past seven years, the private real estate developers had ignored the low and middle income group by concentrating on the development of luxury housing units for the upper and higher income group. This upper market now seems glutted, for the

DAR ES SALAAMWHAT REAL ESTATE TRENDS TO EXPECT IN 2016.

Welcome 2016, the year 2016 will largely witness many changes in the real estate industry. As we have

just ushered in the fifth government of United Republic of Tanzania. New President, new government, new plans. After a mere 100 days in the office for the new government, the Tanzanians have started to witness a different feel of things around. Dr. John Magufuli the fifth President of the united republic of Tanzania has taken the region by surprise on his austerity measures. His actions have inspired the most famous hashtag in the social media, #WhatWouldMagufuliDo, not only in Tanzania but across the globe. The man declared war against the corrupted and the lazy individuals. My predictions for the trends in the 2016 will so much be influenced by the decision and plans of this new government. The Prediction will focus on seven (7) areas of the industry.

Prediction one. Low interest rates on mortgages. In year 2015 we could not witness a decline in the interest rates due to excessive government spending on things like the new constitution referendum, the general election and the speedy completion of some projects by the government to fulfill their promises to the voters before seeking


year 2016, there will be at least six new low cost housing schemes of around 1200 units in total to be launched in Dar es Salaam between March and December, with the going price of TZS 65 million to TZS 120 million to fill in the available huge demand gap.

Prediction three. Low Occupancy rate. The year 2016 will experience low occupancy rate in both commercial and residential units, but mostly on the commercial side of it. The commercial side seem glutted with too much available spaces chasing a very small effective demand, the situation is worsened by the recent huge fall of oil prices in the world market, forcing oil companies to reduce their budgets significantly, meaning, closing some of their operations, therefore abandoned the rented spaces both commercial and residential spaces for their workforce.

Prediction four. Low prices on commercial spaces. With low occupancy rate as per the prediction three, automatically the prices will be forced to head south. Backed by simple economics law which states that, the increase in supply of quantity demand while other things are held constant will cause a drop of price.

Prediction five. Low prices on residential rental and sell prices. The overly supply of the dwelling units and the decreasing demands especially for the upper market will notice a small price fall in both rental and

selling prices. A small portion of the low end of the market is experiencing the opposite of this, the rental prices have hiked significantly in places such as Mbagala, Temeke and the places around, Example a single room that was rented for TZS.20,000/= per month is now going for TZS. 50,000/= per month, a big thank you for the “Bomoa Bomoa” Victims who are scrambling for the units.

Prediction six. Low tolerance on real estate quacks. For many years, people have been complaining about the ill behaviors of some individuals who pose as estate agents, doing a lot bad and tainting this much needed services. For the year 2016, the government has already done a draft of the bill, the real estate agency Act 2015, to be passed anytime soon. In the proposed Act, there will be a need for real estate agents and land brokers to register themselves with the registrar, have some minimum qualification to practice. Only licensed brokers and estate agents will be allowed to practice. After a long cry by the citizenry the assent of the bill is expected to improve the market environment and the government is expected to be sclerous to all the wrongdoers.

Prediction seven. Low cost on construction material. The buyers of the construction materials might see a good portion of the budget been saved, firstly, the fifth government, in its campaign rallies, before being elected promised voters to lower taxes on the construction materials to improve their housing and their wellbeing in general, therefore it is the show time now let us see it walk the talk, secondly, the increase in supply, the recently inauguration of a cement factory in Mtwara is seeing as positive contributor the consumers, the entrant firm will not only provide variety to consumers but am certain there will be some easiness on prices somehow somewhere, thirdly the oil prices, the recent decrease of oil prices will muchly affect the cost of production for the cement and other construction material manufacturers in their logistics bill therefore perhaps passing the relief to their ultimate consumers.

Written by:Babu [email protected]

CLASSIFIEDS

Plot for sale located at Morogoro CBD - Boma rdsurveyed location Plot size 2977 SQM+255 754 310 583 +255 786 088 600

4 bedroom house800 square meter 1 min from main road

300 yards from the beach.+255 655 323 286

House for rent in Masaki 6 bedrooms,+255 754 526 535

KAWE B

EACH

4 Bedrooms, 3 self-contained,Servants quarters, parking space and security.

0784 630 182 / 0787 555 911

RENT $1500 3 Bedroom apartments

Fully furnished, Swimming pool, Gym,standby generator, security

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MBEZI B

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Big compound with big go-down capable of up to20 containers, 3 phase electricity,

DAWASCO connection, 2 bedroom house fully kitchen,dinning room and 4 bedroom servant quarter

Showrooms & warehouses available along the nyere road new complex

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3 Apartment in one compound2 bedrooms self contain. 2 gates

Easy access to harbour and city center.+255655323286 [email protected]

3 bedroom House for sale at Msisiri, Plot no. 16,Block 26 Kinondoni with 2 Servant quarters.

Price Negotiable0757 714 476/ 0786 658 658

Office space to LetMorogoro and Bibi titi Road.

0789 865 933 / 0788 44 04 66

SALE TSHS 800m

Beach Plot Kigamboni Mbutu (Kichangani)Dar es Salaam Size 3.83 Hectres with title deed.

+255 767 422 258

MIKOCH

ENI A

SALE Tsh 260m

CITY C

ENTR

E

RENT

Shreeji Tower3 bedroom fully furnished

+255 715 000 642

500m behind Shamo park at Goigi Bagamoyo road. Clean title, 900 sqm, main water supply,

three phase power connection. 0715 686 051

LIST YOUR PROPERTY HERE FOR ONLYTSHS 30,000/= VAT EXCL.

simply call 0767 200 [email protected]

SALE 100,000,000/=

MOROG

ORO

A fully furnished 4 bedroom 3 bathroom eco houseelectric fence, garden, parking, 24 Hr Security

0713 856 962

$1,500

MIKOCH

ENI B

Beach plot for sale near Millennium Hotel100 meters from the ocean with

government offer of 35 years0754 310 137 / 0713 451 395

SALE $177,000.

BAGA

MOYO

RENT $6000 Vat Inc.

MASAK

I

SALE $2m

KIGAM

BONI

MBWEN

I

SALE $84,000

SALE TSHS 400m

SINZA

MBEZI B

EACH

SALE 360m

MLANDIZ

I

Plot for rent TangaWell fenced more than 30 acres plot at kasela.

0754 324064 0754 529 829

Plot for sale located at Kimbiji Moris,43 km from ferry,

230m from kimbiji beach, Area 3.3 acres.0787 992 455/ 0714 633 499/ 0715 283 803

RENT

CITY C

ENTER

Property ideal for Restaurant cum Bed andBreakfast, Accessible by Tarmac road

0767 120 250/ 0787 120 250/ 0712 722 502

RENT/Joint Venture

MBEZI S

ALA S

ALA

SALE TSH 55m

KIGAM

BONI

RENT

UPAN

GA

RENT

NYER

ERE R

OAD

RENT

3 Bedroom house Sinza kwa Remmy nearThe Place Fast Food Restaurant

288 SQM (NEGOTIABLE)+255 767 422 258

SANAWARI - MATAA3 Bedrooms

0754 021 962 / 0787 021 962

SANA

WARI -

ARUS

HA

RENT 600,000 /MONTH

KINON

DONI

SALE TSHS 400m

TANGA

CLASSIFIEDS

Plot for joint venture at msasani kimweri street0712 86 39 51

Three Bedroom house for sale at Gobawith electricity and enough space.

0744 089 045

Plot size 1985 SQM+255 766 888 333

+255 716 444 888 +255 766 100 100

Apartment in Mikocheni B, 5 mins from BARAKA PLAZA2 & 3 Bedrooms,Semi furnished, Unfurnished

+255 713 299 929 | +255 758 008 866 |+255 758 188 828

MIKOCH

ENI B

3 bedroom, one master bedroom, inbuilt wardrobes, continuous water supply.

Suitable for both residential and office use0713 228 931

RENT $1,000 House to let opposite Mlimani City(100 meters from UDSM road).

3 bedrooms, 24 Hr Security, electric fence,garden parking, servant quarters

+255 713 690 220

KIBAD

A

Plot for sale at Kibada, 765sqmBlock 15 near main road with the title deed

0713 803 069

Coastal Region, Tanzania, (Mkuranga)4.5 acre plot with 100 metres of beach front,

70 km south of Dar es Salaam [email protected]

3 bedrooms Apartment, 24hrs, parking space, Standby generator, Gym, Fully furnished

+255 652 360 101

2 bedroom house, 1 self-contained Parking space Furniture negotiable High ceilings Private garden

+255 754 781 240

3 bedroom house, 1 self-containedLarge compound Parking space

Furniture negotiable High ceilings Private garden +255 754 781 240

SALE TSH 40m

Tegeta Mivumoni, 1600sqmPlot for sale at Tegeta, Mivumoni. no title deed

0713 803 069

MIKOCH

ENI A

RENT $ 1500

KAWE T

PDF G

ROUN

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RENT $800

For Residential Houses - 20 by 30 square meter plots 3 plots available for sale

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5 bedroom house for rent at Ungindoni Kigamboniwith large compound, servant quarter and garage

0685 215 737 Office Space to Let at Azikiwe Street near NMB Bank.+255 788 440 466 / +255 789 865 933

LIST YOUR PROPERTY HERE FOR ONLYTSHS 30,000/= VAT EXCL.

simply call 0767 200 [email protected]

SALE 60m

NO PHOTO

NO PHOTO

GOBA

Rose Garden Big house with swimming pool,fully furnished, generator, cctv camera,

24 hours security and electric fence 0784 999 245/ 0756 501 137/ 0717 537 737

RENT $6000

MIKOCH

ENI

3 bedroom Apartment located in Mbezi Beach Tangi Bovuswimming pool, ample parking, 24hr security.

0716 777 999

SALE $ 600,000

MBEZI B

EACH

RENT $1200

MIKOCH

ENI B

Joint venture

MSASA

NI

SALE TSH 45m

TEGETA

KINON

DONI

SALE TSHS 120m

CITY C

ENTER

RENT

MLANDIZ

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Bunju B these plots are suitable for development a School, Hotel, Multi-Purpose Hall,

3 Acres +255 786 011 755 / 763 011 755

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Villas in Mikocheni Area,5 mins drive to Kairuki Hospital,

Shoppers Plaza & Milenium Towers.+255 715 180 872 | +255 784 691 414

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Plot for sale at Kigamboni Kibada800 meters from the road, with 3500sqm.

with Tittle Deed. NO AGENTS PLEASE0769 115 502

SALE TSHS 185m

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BONI

RENT $1500

MIKOCH

ENI

House to let opposite Mlimani CityRENT $900

MWENGE

SALE $52,000

MKURA

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SALE TSHS 51,000 /@sqm

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LESSONS FROM KENYA’S FIRST REIT OFFER

Recently, the sale of Kenya’s debut Income Real Estate Investment Trust (I-Reit) ended, paving the way for listing on the Nairobi Securities Exchange (NSE). The sale of Stanlib Investments Fahari

Income-Reit’s shares to the public had to be extended by one week after the firm asked for more time to deal with investor queries.

In a statement last week, Stanlib said pension managers and other institutional investors had asked for additional time to understand the new securities. The firm said being the first in the market meant they had to ensure investors understood how the new investment vehicle works.

“Kenyans in general have a ‘wait-and-see’ attitude towards many financial schemes,” said James Muratha, the regional director of Stanlib Investments. The firm hoped to raise about Sh12.5 billion through sale of shares to the public. Each investor could buy shares worth at least Sh20,000.

The money will be used to buy two commercial properties in Nairobi’s Industrial Area and a retail centre — Greenspan Mall — in Donholm. Investors are expected to gain from the income and capital appreciation of the portfolio of properties the fund is invested in.

Initial reluctance But what lessons can we learn from the sale of the country’s first Reit? Muratha says they were not surprised by investors’ initial hesitation: “We had anticipated this. We had to name it ‘Stanlib’ just to make it more credible because we knew the perception out here.”

The Kenya Revenue Authority wrote a letter to Stanlib, clarifying that investors of Kenya’s first I-Reit would not pay taxes on their earnings.

“After KRA clarified the situation regarding tax, we have seen a spike in participation,” said Muratha speaking on Friday last week. Earlier scheduled to close on November 10, the Capital Markets Authority (CMA) approved an application to extend the Initial Public Offer (IPO), a move seen as an indication that the I-Reit had received little interest from investors. “The extension was sought to give investors more time to acquaint themselves with the new investment vehicle. This is a new thing in the Kenyan market and we have to give people more time to understand how it works, plus Kenyans love the last minute rush,” said Muratha, adding: “A bit more is needed to be done on the information front. Some have caught on faster than others. Our IPO is not like Safaricom’s, since Safaricom was already a known entity. We only had three weeks to educate the public.”

According to Eric Musau, an investment analyst with Standard Investment Bank, the I-Reit received considerable coverage, a factor that helped push the IPO. “For new products in the market, a lot of publicity is needed for people to get correct information. I can say they (Stanlib) have done considerably well on the information front,” he said. Not all felt the same. By Monday morning, some potential investors were scrambling to get the right information. Henry Olale, a freelance business executive in the Central Business District, had called his broker to seek more information. “I have tried to read the paid adverts in the newspapers and watched television adverts, but I am yet to fully understand how Reit works. I feel the information has


not been well disseminated to reach even the guy on the street,” he said. But Stanlib is confident of what the future holds for Reits. “This is a game changer,” said Muratha, “...and it will determine how subsequent Reits will be perceived in this country.”

NSE CEO Geoffrey Odundo agreed, emphasising the importance of Reits in enabling more Kenyans afford real estate investments. “The launch of Reits further enhances financial inclusion in our capital markets as average investors will now be able to invest in large-scale commercial, residential and industrial properties without requiring large sums of money,” said Odundo, during the launch of the Reits segment in the market.

Insiders The skepticism was not restricted to potential investors. Key real estate insiders were also skeptical about the viability of the Fahari I-Reit, waiting to see how it fares on the securities market. Reginald Okumu, a director at Ark Consultants Limited, a Nairobi-based real estate firm, cast aspersions on the viability of the Reits in a write-up that analysed the new investment vehicle based on the property management team that will drive the properties bought, a comparison between the I-Reit yield with yields from alternative investments in the securities market and a forecast on rental income. He further analysed the underlying real estate assets and the lack of portfolio diversification as a way to mitigate unsystematic risk. In his assessment, lessons from struggling listing of real estate entities Home Afrika and Anglo African Property

Holdings Limited have not been learnt. “Reit provides investors at low-cost exposure, to the real estate market. Given its unique nature, investors require special tools to analyse an opportunity presented to help them make an informed decision,” he wrote.

Investors But Muthara said the IPO was open to qualified institutional investors from East Africa, retail investors and foreign investors. “Most foreign investors jumped onto the IPO very quickly because they have experience with Reits from their own countries or other countries they invest in,” he said. “For institutional and retail investors, we have noticed the interest was across the board, although the interest is more from the former for obvious reasons.”

But Okumu argued that given the performance of office real estate sub-market, the state and location of the properties, it is doubtful that the I- Reit will achieve targeted yields. However, Muthara said such criticisms show a clear lack of knowledge of the Reits market: “The properties earmarked for acquisition have undergone financial, civil, engineering and legal due diligence. They have passed the minimum requirement from the relevant authorities and questioning the I-Reit is questioning the mandate of these authorities. They all cannot be so complacent as to approve the acquisition.” He said the Reit had the backing of the Capital Markets Authority, Kenya Revenue Authority, Nairobi Securities Exchange and the Treasury.

This article was written by:Mwaghesha MkalaStandard Media

44 The DarProperty August 2014

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]

TANGANYIKA ESTATE AGENTSVillage 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 AGENTSShoprite Complex,+255 785 984 467 [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]

CHINESE PROPERTY AGENT TRANSLATORMsasani Road, MasakiEnglish Chinese TranslatorDealing with your chinese clientsms 0756 50 11 [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

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

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

Real Estate AgentsDirectory in TanzaniaDAR 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]

+255 756 960 960, +255 714 444 250, +255 752 444 606.

ARUSHA +255 653 005 530, MWANZA +255 653 005 535,

[email protected] TZREALESTATE.CO.TZ


ARUSHA

ENHANCE YOUR VISIBILTY & CREDIBILITYGET LISTED HERE WITH YOUR LOGO

Kshs. 2,500/= Monthly / Kshs. 25,000/= Annually+255 784 23 89 62, +254 720 35 34 37 | [email protected]

AXIS REAL ESTATE 0727 5728360713 908 [email protected] Nairobi Kenya

ARK CONSULTANTS LTDNo. 16 Nas Apartments,Milimani RoadP.O. Box 42093, 00100Tel: +254 20 2726870www.arkconsultantsltd.com

CORAL PROPERTY INTERNATIONAL LTD+254 735 [email protected]

DUNHILL CONSULTING LTDHevea Court, Block A3, No.15,Eldama Ravine Road, WestlandsTel: +254 786 386 445www.dunhillconsulting.com

FINANCIAL AND PROPERTYCONSULTANTS LTDArbor House, Arboretum DriveP.O.Box 14459-00800 NairobiTel: +254 722 524383www.fapl.com

HALIFAX ESTATE AGENCY LTDCrossway Road, WestlandsTel: 3741269/[email protected]

HASS CONSULT LTDABC Place, 1st Floor, P.O. Box 14090, NairobiTel: +254 20 4446914www.hassconsult.co.ke

KARENGATA PROPERTY MANAGERSHead office: No.47 Marula lane, KarenP.O BOX 1552, Karen. 00502,Nairobi.0733613744 / 0735099932

KENYA VALUERS AND ESTATE AGENTS LTD3rd Floor, Museum Hill Centre,P.O. Box 48209, Nairobi Tel: +254 20 3745697/512 www.kenyavaluers.com

KNIGHT FRANKLion place, Waiyaki wayTel +254 20 4239000 / 0733 [email protected]

PENTA KENYA LTDTropical lane off Wood AvenueP.O Box 101493 00101, NairobiTel 0731471872 / 0711 [email protected]

PROLAND REALTORS LTD6th Floor, Maendeleo House,Monrovia StreetP.O Box 29509-00100 NairobiTel: +254 720 353437www.prolandrealtors.co.ke

PROFESSIONAL PROPERTYMANAGEMANT LETTING & SALES0708 8484810733 785698 160662 Nairobi Kenya

SEMA ESTATE AGENTSSpringette Office park, Block H2, Lower Kabete Road.Tel 020 2017940 / 0725 [email protected]

Tel +254 20 4239000 / 0733 603260COMING SOON

RWANDAREAL ESTATE

AGENCYDIRECTORY

Real Estate AgentsDirectory in Kenya

ADAMAS.................................................................5AYUB......................................................................27BARCLAYS.............................................................47BERGER .................................................................12CES.........................................................................31CHOKOLE.............................................................38CRDB BANK............................................................3DAT...........................................................................2DCB BANK............................................................15EASC......................................................................39HOME POINT.......................................................48IVORY TOWER..................................................8&9JAMAL...................................................................21KILI GOLF.............................................................13LONGONOT GATE............................................32MARINA........................................................22&23MASUMIN.............................................................26MWANZA.............................................................28OCEAN LINK........................................................41OLJORO TAN CITY.....................................24&25PROLAND.............................................................33REEF..........................................................................6REMAX..................................................................21SHANGHAI..........................................................16SIMBA CEMENT.....................................................1TANGANYIKA ESTATE AGENT............................7TEMSO..................................................................41UTT...................................................................1&11VITAFOAM...........................................................14

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PublisherDarproperty Tanzania

Editor In ChiefLarson Chumi

[email protected]

Business Development & ProductsAbdallah MugasaYusuph MhandoJaneth Samwel

Designs & Layouts Dennis MaungaMussa Khamis

[email protected]

Marketing & SalesMichael Francis

[email protected]

DistributionBoniface Metta

Online Content ManagerMbwana MburaAloyce Mkude

Finance Administration ManagerIsmail Mutanda

Public Relation OfficerMaria Urassa

Accounts ExecutivesGrey Mateni

Faraji SenkoroMoreen MremaLucynancy John

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]

Country Director - KenyaXavier Nanchengwa

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.

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darproperty feb 2016

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