NHC Joint Venture Policy set for launch next week
THE National Housing Corporation (NHC) has rescheduled the launch of its reviewed Joint Venture (JV) Policy to mid this month, where more than 1,000 participants are expected to attend the event.
Earlier, the launch that was expected to take place on October 21 this year but it was rescheduled to provide more opportunities for investors to participate.
The review joint venture policy aims at providing opportunities for private investors for both local and foreign to invest their capital in a state-owned corporation, which is responsible for providing and facilitating the provision of houses and other buildings.
The development comes after, NHC announced its 11 priorities of the corporations in July this year, which are going to be implemented in the financial year 2022/23, including projects to be undertaken through Public Private Partnerships (PPPs).
In a course, the first version of the JV Policy was approved by the NHC Board of Directors on June 11, 1993 and underwent several reviews depending on the timely needs
Addressing the media yesterday in Dar es Salaam, the NHC’s Public Affairs and Information Manager, Mr Muungano Saguya unveiled that so far various government and private institutions; associations and boards of professionals, as well as private investors both local and foreign, have confirmed their participation in the launch where Prime Minister Kassim Majaliwa will grace the event.
“Previous we set aside approximately 60 plots in prime areas that need to be developed and amog them 40 plots are located in Dar es Salaam and the remaining in other regions including Arusha and Mwanza…due to great readiness among investors we have decided to add more areas so that they can be developed,” Mr Saguya said
He further added that, NHC is preparing two special books that explain in details the JV policy and available areas for investment.
In a related development, he underlined that there is no need for investors to have a middleman to find the opportunity to partner with the corporation while adding that the policy is clear and terms and conditions must to be adhered.
Mr Saguya 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 worth 240bn/- have been completed, while 30 projects worth 60bn/- are expected to be completed soon.
