NHC, Dar bourse ink office accommodation deal

The National Housing Corporation (NHC) and the Dar es Salaam Stock exchange (DSE) on Wednesday signed a contract under which the bourse will buy office space at Morocco Square, a new project by the public housing firm in Dar es Salaam’s Kinondoni District.

The over 3bn/- contract allows the buyer to pay for the houses in four phases within three years. Speaking shortly after the signing ceremony, NHC Managing Director, Mr Nehemia Mchechu, said Morroco Square was the first modern project covering about 105,000 square metres and was expected to be accomplished in the next three years.

He said the buildings were designed to cover all necessary needs as it will be composed of offices, hotels, shopping malls, residential apartments and parking lots for motor vehicles and helipads for helicopters as a way to curb heavy traffic jams in the city.

“The project is expected to improve the business infrastructure in Dar es Salaam as it has been located almost in the city centre and is surrounded by people’s residences and various offices,” he said.

He added that the project was aimed at benefiting the general public and nearby surrounding communities including Mikocheni, Oysterbay, Masaki, Kawe, Sinza and Mwenge.

The NHC and DSE deal provides an opportunity for other reliable institutions to channel their investment into the project and hence contribute to speeding up the national infrastructure.

The NHC chief said the building would be equipped with an elaborate security system including CCTV cameras. “Everyone is invited to purchase or lease anything of interest as we have internationalised the project,” he added.

For his part, DSE’s Chief Executive Officer, Mr Moreni Marwa apart from commending NHC’s efforts in improving the housing and business infrastructure all over the country, he was happy with the signed deal as it would highlight the firm’s profile.

“Through the Morocco Square project, the DSE will have permanent offices that will be visible and reachable by everyone at any time,” he said.
Source: Daily News, reported by Deogratius Kamagi, from Dar es Salaam, Tanzania
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