NHC receives 66 joint venture applications from investors

MASSIVE transformation is envisaged in the real estate sector as the National Housing Corporation (NHC) received about 66 applications from local companies after the launch of the Joint Venture Policy in November last year.

The reviewed joint venture policy aims 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.

Minister for Lands, Housing and Human Settlements Development,Dr Angelina Mabula said on Tuesday that the development comes a few months after Prime Minister Kassim Majaliwa launched the Joint Venture policy on November 16th last year.

She said so far NHC has received 66 applications of investors who have shown their interest to cooperate with the state-owned corporation to set up housing projects.

“The launch of the Joint Venture policy is going to open the doors of investment in the housing sector and indeed we support the vision and directives of President Dr Samia Suluhu Hassan to attract investment in the country by allowing the private sector, which is the engine of building a strong economy of our nation,” the minister underscored.

In particular, Dr Mabula urged competent companies to come forward to invest with the corporation through the launched joint ventures, while emphasising that the doors are open for investment.

“I would like to assure the private sector that the Head of State has opened doors for the government to collaborate with the private sector, I ask the companies that have the ability to invest in joint ventures with the government, to come and grab the opportunities available. We need to work together to build our nation especially by considering that the land sector is an enabling sector that everyone depends on,” she said.

Minister Mabula said that in the year 2023, the corporation has planned to continue implementing various projects including completing the Morocco Square project so that it can be officially opened in March 2023.

The minister also said that the NHC planned to continue with the implementation of the Samia Housing Scheme (SHS) project in the Medeli area of ​​Dodoma, where 250 houses of the first phase will be built for sale.

In a related development, Dr Mabula directed the executives of the land sector to work diligently and efficiently as well as comply with existing laws, regulations, procedures and guidelines.

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