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Msemwa said yesterday that 50 Gezaulole project units of 18 billion shillings had attracted buyers up to now, but most of the clients changed their plans after their transfer to Dodoma.
"We received about 200 requests for homes, but most potential buyers have asked to receive alternative units to Dodoma after their transfer to the new capital," Dr. Msemwa told the state secretary at the Presidency (Public Service Management and Good Governance), Mr. George Mkuchika. he visited WHC projects in Gezaulole, Kigamboni and Magomeni in the city.
million. Mkuchika congratulated HFC, and advised the company to also focus on areas overseen by newly established local councils.
"Officials in the new administrative regions have difficulty finding decent housing … you should also consider them," he said. Mr. Mkuchika also asked the company to ensure the profitability of his projects, saying the government was closely monitoring its operations.
Dr. Msemwa said that high interest rates on mortgages and the imposition of value added tax "
Despite these difficulties, WHC homes were sold at prices 10 to 30% below their real market value, he adds.
"The company is taking measures to mitigate the effects of VAT and high interest rates, including the design and construction of units at very low cost, and thank the government to have taken steps that have begun to bear fruit. "
Dr. Msemwa cites the lack of water and electricity distribution infrastructure and roads in the project areas are among the factors slowing down the World Heritage Center's projects in WHC-REIT shareholders include the Public Service Pension Fund, the PPF Pension Fund, the National Social Security Fund, the LAPF Pension Fund, the Pension Benefits Fund of the GEPF , the National Housing Corporation and the NHIF
WHC is the real estate developer and approved fund manager of the Watumishi Housing Corporation – Real Estate Investment Trust (WHC-REIT).
WHC-REIT is the principal performer Tanzania's housing scheme for civil servants with the construction of 50,000 housing units in five phases as of the fiscal year 2014/15.
Since its inception in 2014, the company has built 950 units of logemen the value of 60 billion shillings in 19 regions
to officials and other eligible members of the public.
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