NHC, developers sign Sh270 billion deal to change Kariakoo skyline

Media/news company

Mwananchi Communications Limited

What you need to know:

A total of 16 structures that currently house 190 commercial and residential tenants will be demolished to pave the way for the construction of new and modern buildings in Kariakoo

Thirty-nine of the 87 projects are in Dar es Salaam. Kariakoo alone has 24, thanks to its attractiveness to investors. He said that currently, the cost of renting a square metre of space at Kariakoo is higher than in most cities the East and Central Africa. “It is probably only at Kariakoo where a developer gets tenants as soon as he starts putting a building up,” he said, adding that the 21 projects were allowed to proceed with the contract signing after NHC conducted due diligence with the help of other government agencies, including the office of the Attorney General. In his remarks, Mr Silaa said it was the government’s directive to conduct due diligence on the companies that had applied for a partnership deal with the NHC. “After a review of the policy, we do not expect a project to delay for any reason,” he said, hailing the move, which he said will increase the rentable space and asset value.

NHC, developers sign Sh270 billion deal to change Kariakoo skyline

What you need to know:

Latest

Tanzania’s insurance market hits Sh2.55 trillion on rising health premiums

Early detection key to breast cancer treatment

Mali forces, Russian backers kill scores of civilians in drone strikes

Egypt's Sisi says his presidency will end in 2030, outlines plan to prepare future leaders

Africa’s mineral value-add drive attracts investors but faces energy hurdles

Mozambique courts South African investment for new gas project

In the headlines

Tanzania’s insurance market hits Sh2.55 trillion on rising health premiums

Foreign traders change tactics to operate businesses in Kariakoo

Amsons Group now acquires Oryx Tanzania’s oil assets

CRDB Bank secures $111 million financing deals for MSMEs

What you need to know:

NHC brings back joint venture policy

NHC proposes six important measures for real estate sector

Tanzania’s insurance market hits Sh2.55 trillion on rising health premiums

Early detection key to breast cancer treatment

Mali forces, Russian backers kill scores of civilians in drone strikes

Egypt's Sisi says his presidency will end in 2030, outlines plan to prepare future leaders

Africa’s mineral value-add drive attracts investors but faces energy hurdles

Mozambique courts South African investment for new gas project

Tanzania’s insurance market hits Sh2.55 trillion on rising health premiums

Foreign traders change tactics to operate businesses in Kariakoo

Amsons Group now acquires Oryx Tanzania’s oil assets

CRDB Bank secures $111 million financing deals for MSMEs