NSSF puts up Dege Eco Village for sale

Dar es Salaam. The National Social Security Fund NSSF has announced the sale of the Dege Eco Village project which is estimated to be worth $653 million (more than Sh1.3 trillion).

In a notice dated October 21, the pensions fund said it intends to dispose the entire Dege Eco Village Project in its current state and that the prospective buyer would not shall have no further liability after the sale.

The tender shall be conducted through the International Disposal by tender procedures specified in the public procurement regulations with interested buyers being invited to inspect the property on November 3.

 According to NSSF, tenders should submitted by November 14 with the potential buyers or tenders accompanying their bid with a tender security of 25 percent (in US dollars) of bid price.

The project was being developed jointly between the National Social Security Fund (NSSF) and Azimio Estate Housing Limited, and it is not clear why the pensions fund has decided to put it up for sale.

The Dege Eco Village project which is located in Kigamaboni was in 2021 flagged by the Parliamentary Accounts Committee as a risk after it had stalled since 2016 something that PAC said the project was risking to get into as depreciation phase. 

Construction of the Dege Eco Village kicked off in January 2014 and was supposed to be implemented into three phases and phase one was meant to be completed 2015, whereas phases two and three were set to be completed in 2016 and in 2017 respectively.

At its inception, the project was mainly meant for the middle and higher income earners, raising eyebrows given the need for a project for lower income earners.