Bank offers buyers loan facility over apartments

Exim Bank Tanzania is set to provide mortgage facilities for individual and corporate organisations seeking to acquire apartments in the newly launched ultra modern ‘Uhuru Heights’ Building located in the heart of Dar es Salaam.

Exim’s managing director Anthony Grant told a gathering at an event by Cosmos Group in Dar es Salaam to unleash ‘Uhuru Heights’ at the weekend, that his bank is committed to ensure that Dar es Salaam residents get the necessary finance to buy apartments in the new structure. 

He said his bank has set aside Sh20 billion this year that will be lent to various individuals and corporate companies this year.

“We believe that mortgage financing can be a catalyst in supporting the country’s economic and infrastructure development. Exim Bank, in a bid to make long-term loans more readily available, has become a strategic partnership equity holder in Tanzania Mortgage Refinance Company, a pioneer refinance company in Tanzania,” Mr Grant said.

He said the bank is willing to offer would-be buyers of apartments in the new structure a generous interest rate on mortgage facilities with a 15 -year pay-back period.

The Cosmos Group Chairman Muhammad 0wais Pardesi during the event said the land mark project cost $40 million (Sh64 billion) and would fulfil the huge demand for quality residential and commercial space in Dar es Salaam.

Source: The Citizen, thecitizen.co.tz, reported from Dar es Salaam

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