NHC’s Rise to Glory: Tanzania’s Real Estate Boom!

NHC Tanzania
Share this article

Tanzania’s National Housing Corporation (NHC) is a vanguard of affordable and sustainable housing solutions. Established in 1962, NHC has been a driving force behind developing housing infrastructure, addressing the diverse needs of Tanzania’s growing population. With a rich legacy over six decades, NHC Tanzania has become synonymous with innovation, quality, and social impact.

From sprawling residential complexes to commercial and hospitality ventures, NHC’s diverse portfolio reflects its unwavering commitment to meeting the ever-evolving demands of a dynamic society. It has been at the forefront of pioneering eco-friendly and disaster-resilient housing, keeping sustainability and environmental consciousness at the core of its developments.

Beyond its architectural prowess, NHC fosters social inclusivity by focusing on affordable housing solutions for low and middle-income earners. To reduce the housing deficit and improve the quality of life for Tanzanians, NHC’s projects span the nation, catering to both urban and rural areas.

In recent years, NHC has embarked on strategic partnerships with international investors and development organizations, expanding its horizons and elevating its capabilities. The corporation remains forward-thinking, embracing technology and innovative practices to ensure its products meet the highest standards of excellence.

The National Housing Corporation (NHC) is all set to make history in an unprecedented move! Brace yourselves as they soar to new heights with their first-ever bond listing on the illustrious stock market. Amidst cheers of success, the company reveals staggering figures, leaving everyone in awe.

A Financial Marvel

With a magician’s touch, NHC’s revenue witnessed a jaw-dropping surge, skyrocketing to 257.5bn/- in the financial year 2021/22, a mesmerizing 78.3% surge from the previous year. Not to be outdone, profits danced in joy, leaping to 60.7bn/-, boasting a remarkable 91.5% increase. Numbers that will leave your mind spinning!

Nyumbani Bond: The Enchanting Offer

NHC Director General, Hamad Abdallah, unveils their latest charm – the Nyumbani Bond! This mystical bond will grace the Dar es Salaam Stock Exchange within a year, attracting investors far and wide. The first proposal has already won the hearts of the NHC Board of Directors, and the excitement lingers!

“We will issue the Dar es Salaam Stock Exchange bond within one year. It will be known as Nyumbani Bond,” NHC Director General Hamad Abdallah revealed last Thursday in Dar es Salaam at a meeting with editors from different media houses.

The meeting was a continuation of meetings between public organizations and the editors organized by the Office of the Treasury Registrar to highlight their activities and achievements.

Mr. Abdallah stated that the NHC Tanzania housing bond is now in the preparatory stages within the institution, whereby the first proposal was already presented to the NHC Board of Directors.

Elaborating on the factors for the rising revenue and profit, he said the company managed to collect more payment from its rented houses and through the sale of homes and commercial buildings.

Through the sales of residential and commercial buildings, the company garnered 121.95bn/- in the year 2021/22, up from only 29.3bn/- in 2020/21, which is a quadruple.

Again, the income from the rented buildings went up from 89.9bn/- in 2020/21 to 90.76bn/- in 2021/22.

In the meantime, the company collected 45.98bn/- in 2021/22 from engineering consultancy services, an amount above 25.6bn/- in the previous year.

“In three years consecutively, the corporation has grown 12 percent.

Speaking over the ongoing projects, he explained that they are implementing an ambitious 466bn/- project dubbed ‘Samia Housing Scheme’ through which 5000 units will be erected in Dar es Salaam, Dodoma, and other regions.

Houses and Commercial Buildings: The Magical Ingredients

Were you wondering about the secret behind this magical success? Look no further! With the flick of their wand, NHC conjured a quadruple revenue spell through the sales of residential and commercial buildings, bringing in a staggering 121.95bn/-. Rental income waved its wand, enchanting the coffers with 90.76bn/-. Engineering consultancy services added to the spell, contributing 45.98bn/-, a mesmerizing leap from last year’s 25.6bn/-.

A Journey of Growth

Witness the magic of progress as NHC unveils a series of ambitious projects! The ‘Samia Housing Scheme,’ a 466bn/- extravaganza, will weave 5000 units across Dar es Salaam, Dodoma, and beyond. 85% of houses are already finding their new owners! Another magical project, Morocco Square, stands tall, 97% complete, ready to sprinkle nine bn/- yearly into NHC’s treasure chest.

Samia Suluhu Hassan: The Fairy Godmother

A fairytale would be incomplete without a benevolent ruler, and here she is! President Samia Suluhu Hassan, the enchanting Fairy Godmother, revived stalled projects, breathing life into dreams. The Samia Housing Scheme, a testament to her benevolence, sets new benchmarks for prosperity.

The Samia Housing Scheme is an ambitious and transformative project initiated by NHC Tanzania. Named in honor of President Samia Suluhu Hassan, who played a pivotal role in reviving stalled projects, the scheme addresses the pressing need for affordable housing and urban development in the country.

Scope and Objectives: The Samia Housing Scheme is a massive undertaking, with a total projected investment of 466 billion Tanzanian Shillings. Its primary objective is to construct 5,000 housing units across various regions, including Dar es Salaam and Dodoma, over a designated period. The scheme targets middle and low-income earners, providing them access to quality housing and basic amenities.

Geographical Distribution: The housing units within the Samia Housing Scheme are strategically planned for distribution in different regions to support balanced urban growth. Approximately 50% of the housing units will be built in Dar es Salaam, Tanzania’s largest city and economic hub. An additional 20% will be developed in the capital city, Dodoma, the country’s administrative and political center. The remaining 30% of units will be constructed in other regions, ensuring a broader impact on urban development across Tanzania.

Construction Progress: The project was officially launched recently, and construction activities have already commenced. The scheme follows a phased approach, with different phases focusing on specific regions. As of the latest available information, the Dar es Salaam phase, initiated in September 2022, has seen significant progress, with 560 units under construction. Approximately 85% of these units have already been sold, demonstrating the project’s appeal and relevance to potential homeowners.

Affordability and Inclusivity: One of the key highlights of the Samia Housing Scheme is its emphasis on affordability and inclusivity. NHC aims to make homeownership accessible to Tanzanians from various income levels, mainly middle- and lower-income brackets. By offering attractive financing options and competitive prices, the scheme ensures that more families can realize their dreams of owning a home without facing excessive financial burdens.

Impact on Urban Development: As one of the largest and most comprehensive housing schemes in Tanzania, the Samia Housing Scheme has the potential to impact urban development significantly. By providing modern and sustainable housing solutions, the project addresses the housing deficit and contributes to improving urban infrastructure, transportation, and community facilities.

Dreams Turned Reality

Prepare to witness dreams woven into reality as NHC Tanzania unlocks the magical potential of Dar es Salaam. The bright future shines with projects like Kawe 711 and the Golden Premium Residence joining the enchanting spectacle.

A Grand Finale: The Return on Investment

The curtain falls with a promise of grandeur. NHC’s vision sees a fruitful return on investment within 12 years as Morocco Square unlocks its charms. A monthly collection of 850m/- adds a sprinkle of magic, leading to a mesmerizing nine bn/- each year.

Tanzania’s real estate story unfolds like a magical tapestry. With NHC’s charm casting an enchanting spell, the nation marches toward a prosperous tomorrow. Watch this fairy tale as dreams take flight and the country rejoices in the symphony of progress.

It’s remarkable growth and success of the National Housing Corporation (NHC) in Tanzania’s real estate sector. The creative and engaging plans captivate the citizen’s attention, vividly depicting the company’s achievements and goals.

From a business perspective, the financial figures indicate a significant increase in revenue and profit for NHC Tanzania. The company’s decision to list its bond on the stock market reflects a strategic move to attract more investors and expand its financial base. Additionally, the success of the Samia Housing Scheme and other projects demonstrates NHC’s ability to execute ambitious ventures and contribute to the country’s economic growth.

0 0 votes
Article Rating
Notify of
Inline Feedbacks
View all comments
Leave a comment
scroll to top