Dar bank, Avic International firm partner in housing loans

CBA Bank Tanzania has inked an agreement with Chinese real estate developers, Avic International Real Estate (T) to provide loans at affordable interest rates for buying houses.

Speaking after signing the agreement in Dar es Salaam at the weekend, the CBA Executive Director, Mr Julius Mcharo, said the deal provided the opportunity for Tanzanians to own high quality houses built by Avic in Kigamboni area.

Mr Mcharo said CBA is planning to raise people’s living standards in collaboration with real estate investors by enabling them own homes.

“Our bank is planning to provide low cost loans to citizens wishing to procure a house at affordable rates payable up to 20 years,” he said.

The CBA Corporate Customers Manager, Ms Hyasinta Mwimunzi, said the sizes of the houses range from two rooms and seating room sold at 150,000 US dollars payable up to 20 years at 16 per cent interest.

The Avic International Real Estate Assistant Manager, Mr Liu De Xiang, said he was pleased in entering in such a deal with a big bank like CBA Tanzania and pledged to continue investing on cost effective houses.

“We call upon all citizens to go for the deal in order to benefit from the opportunity in owning homes through loans at affordable rates,” he said.
Source: Daily News, reported from Dar es Salaam, Tanzania
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