NHC plan to modernize Kariakoo on top gear
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DAR ES SALAAM: THE execution of the Joint Venture (JV) policy by the National Housing Corporation has begun to pay off following the start of the construction of new 16 structures in Kariakoo area.
Speaking at the NHC pavilion during the ongoing 48th Dar es Salaam International Trade Fair (DITF), The NHC Director General Mr Hamad Abdallah said the process of demolishing old buildings has already started in the busy business streets of Kariakoo to pave the way for the construction of new commercial and residential modern buildings.
According to a state real estate developer, the construction would potentially transform Kariakoo skyline.
In December 2022, NHC launched a reviewed joint venture policy that aimed at providing opportunities for private investors; both local and foreign to invest their capital in state-owned corporation that is responsible for providing and facilitating the provision of houses and other buildings.
Mr Abdallah said the project will boost NHC’s turnover because, upon completion, the number of tenants will increase to 2,011, contrary to previous whereby the old buildings accommodated only 200 tenants.
Similarly, the developers will set up 500 warehouses at Kariakoo.
“The construction of new commercial and residential structures will boost the country’s economy and social well-being,” NHC boss asserted.
He added: “The implementation of these projects shows the commitment of the corporation in improving the standard of living and well-being of Tanzanians,” he said.”