Tanzania’s National Housing Corporation (NHC) to construct over 500 houses in the next 12 months after the government made the decision to move the administrative capital of the East African nation from Dar es Salaam to Dodoma formally.
NHC has purchased 236 acres of land to build between 300 to 500 houses for the project that is worth 60 billion Tanzanian shillings (Around 27,440,400 US dollars). The money will be collected from property sales and cash collections from chronic debtors.
“As builders, we are targeting both the private and public sectors. We are going to Dodoma to build houses. So far, we have put up 153 structures, some of which have already been sold. We are also constructing 44 houses in Kongwa District and already we have bought 236 acres of land in the peripherals of the University of Dodoma, where we are building satellite projects like the ones at Kawe and Arusha,” said NHC Director General Nehemiah Mchechu, reports The Citizen
The Director further added that apart from selling houses, the organization is following up on 14.5 billion Tanzania Shillings debts from the public and private sector as it assures residents of adequate accommodation in the designated administrative city of Dodoma. Adding,that other possible sources of financing as loans from financial institutions and engagement of local and foreign investors according to Daily News.
“More still, as the country faces a shortage of 3.5 million housing units, with the demand increasing at an average of 200,000 units per annum, we hope the housing projects in Dodoma will help to ease the shortage,” Mr Mchechu noted.