Foreigners to own property in Tanzania

DarProperty Tz · 2015-11-21T15:17:49+00:00

Tanzania in recent years has witnessed a huge influx of foreigners and being amongst the leading recipients for foreign direct investments, this demonstrate the success of the government?s investment policies and measures to make Tanzania an even more attractive investment destination. Recently during the laying of the foundation stone at one of the NHC projects in Dar es salaam, the NHC Board Chairperson, Ms Zakia Meghji, made a request to the then President of Tanzania, Dr. J.M. Kikwete, seeking amendment of laws to allow foreigners to buy housing units, President Kikwete said a formal request should be forwarded to the government for consideration. Dr Kikwete said not all houses and buildings in developed countries are owned by locals but foreigners who are allowed to buy and are given conditions to follow if they want to construct a building. ?In Dubai, South Africa and other developed countries, this method applies, which is a big catalyst to those countries economy. We should not be our own stumbling block in achieving our goals in development,? he emphasized. The president`s remark received mixed reactions from different stakeholders, including local and foreign investors. One investor mentioned that, ?I think the President is right, we need to welcome more foreign investors and allow them to buy properties in Tanzania that is the only way to make the industry more vibrant and truly making ourselves global citizens.? It was not the same to some individual, Mr. J.Chiwalao, a Tanzanian living in Kigali, Rwanda, Commented, ?The review on fixed asset ownership is a broad thing, perhaps, there few things to be corrected to fit the current demands and needs for the betterment of our community, but, I am against the move taken by the Corporation to categorically seek the review, The corporation`s primary role is to provide or facilitate the provision of houses and other buildings in Tanzania, their focus should be the local market, with a deficit of over 3 million units and 200,000 more units every year their focus should have been tailored to satisfy this ready demand rather than ignoring it.

Thread starter DarProperty Tz
Start date Nov 21, 2015

DarProperty Tz

Senior Member

Nov 21, 2015

Black Sniper

JF-Expert Member

Nov 21, 2015

DarProperty Tz

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Nov 23, 2015

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