A recent report by the World Bank (WB) titled “Africa’s Cities – Opening Doors to the World” declared that the total economic value of buildings in Dar es Salaam is estimated to be around UDS12 billion. This is estimated at just less than three times the city’s share of GDP and quite more than the estimated values for Nairobi (UDD9 billion) and Kigali (USD2 billion).
The Tanzania Real estate industry sector is in a booming stage unlike any other country in East and Central Africa and many other nations in the world due to a number of factors like the decision of the Tanzania’s President, John Magufuli, to move the Government’s headquarters to Dodoma over the next 5 years, where it is estimated that it will cost over $50-90 billion for both government and private people to move there in the period of 5-10 years.
According to WHC, which is one of the major projects undertaken by Tanzania’s Government to ease the public servants’ housing shortage, only 10,000 out of 650,000 workers are provided with residential accommodation through mortgages or any other house purchase scheme. This is why WHC has signed cooperation agreements with CRDB Bank, Azania Bank, NMB, Bank of Africa, and Exim Bank.
Despite Dodoma, Dar es Salaam, Tanzania’s commercial capital and Africa’s fastest growing city, has a current population of about 4.3 million which is expected to quintuple to about 20 million by 2050. The housing price per square metre averages USD 1,200 in Dar Es Salaam versus USD 1,235 in Nairobi while the rent ofa one-bedroom apartment in the city center is around USD 775.3 a month in Dar es Salaam versus USD 444.5 a month in Nairobi. The current demand for housing in Tanzania is estimated at 200,000 houses annually, and a total housing shortage of 3 million houses.The current price for 3 bedroom apartments ranges between $350,000 to $500,000 inclusive of VAT a good example being PSPF Towers where the price is USD 2200 per square meter.
The Tanzanian real estate industry has ensured a renewed focus on cost saving technologies, innovations and processes to bring about a significant decrease in project costs and eventually the prices subjected to the end consumers. This has significantly increased the need for sharing the globally recognized best practices, technology, processes and knowledge to enable a positive growth for all stake holders in the industry.
This year the DAR International Property Show edition aims to fill this gap for Real estate and Building professionals in the industry. The exhibition and conference brings together key decision makers and industry stalwarts to discuss the policies, implementation of technologies, Building Materials and globally accepted best practices in the Real Estate and Building industry .
The three-day exhibition will be co-located with a conference focused on Infrastructure and Tunnelling projects. Other features will include an engaging mix of B2B & B2G networking platforms, Innovation corner, Start-up pavilions and Product demonstration areas.
The exhibition will be held at Mwl.J.K Nyerere Trade Fair Grounds ”Saba Saba Grounds” in Dar es Salaam from 16th-18th of August 2018
Theme: ” The Future of Tanzania Real Estate Industry”
Pavilions: Tanzania,Kenya,South Africa,Zambia,India,UAE,South Korea,Rwanda,Uganda,Ethiopia,USA, Germany, Italy, Turkey & China
|▪||Tanzania Building Agency|
|▪||Ministry of Land ,Housing and Human Settlement|
As an important member in the Real Estate industry it would be imperative for you and other professionals from your organisation to participate on this platform.
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We look forward to your participation.