NHC joint venture policy launch rescheduled for next month
NATIONAL Housing Corporation (NHC) Joint Venture Policy that among other things intends for massive transformation in the country’s real estate sector will be launched on November 14th, this year.
Director of Business Development at NHC, Mr William Genya told reporters that the reviewed Joint Venture (JV) Policy was earlier scheduled to be launched on Thursday but it has been pushed forward to give room for investors who have pledged for extension to effectively take part in the launch.
The review’s joint venture policy aims at providing opportunities for private investors both local and foreign to invest their capital in state owned corporation, which is charged with the responsibility of providing and facilitating the provision of houses and other buildings.
“We have received many requests from the diaspora, big real estate companies both local and foreign to attend the joint venture policy launch, thus we have decided to set it for November 14th this year in Dar es Salaam,” said Mr Genya
The development comes after NHC announced its 11 priorities in July this year, which are going to be implemented in the financial year 2022/23, including projects to be undertaken through the Public-Private Partnerships (PPPs).
He added that the first version of the JV policy was approved by NHC Board of Directors on June 11, 1993 and underwent several reviews depending on the timely needs.
Mr Genya said that since the start of this procedure in 1993, a total of 111 projects have been implemented countrywide worth 300bn/-.
He said out of those projects, a total of 81 projects worth 240bn/- have been completed, while 30 projects worth 60bn/- are expected to be completed soon.
He underlined that those projects have contributed to the availability of employment, improving the outlook of several cities, increasing the corporation’s income, increasing the scope of government taxes and increasing areas for business and housing.
In a related development, he unveiled that during the launch, they expected about 1,000 participants from various private and government institutions, associations and boards of professionals as well as private investors both local and foreign who have been invited.
The theme for the launch of this joint venture policy is ‘We are building our nation through a partnership with the private sector’ which encourages participation of the private sector in developing prime plots in various areas, including city centres that have more valuable plots than the existing buildings, to increase the income of the Corporation.
He said the corporation is committed to redeveloping prime plots hosting condemned buildings in partnership with potential real estate investors.
