Real estate is an immovable property that consists of buildings or natural resources on it and with the passage of time, it has become a business that has evolved in a positive way. This is mainly because the asset does not depreciate and the value keeps increasing with time and added value and so does the demand for investing in real estate. Be it for private purpose or for business purpose, there comes a time in everyone’s life when they want to invest in real estate.
A developing country in the world with growing and emerging real estate markets is one in Eastern Africa known as Tanzania. The real estate sector in Tanzania is a very good idea due to its implausible growth in property prices in the previous decade. This growth is likely to turn out to be very profitable in the future and that is why investors are found purchasing an investment property in Tanzania.
One of the biggest benefits in Tanzania for investors is the diverse culture as well as natural resources found in the country that are a sort of wealth for the country that helps development easier with respect to its resources. Within the country, many say that Tanzania is the ideal market in order to make your investments profit and the reason for this is the fact that the diverse culture helps the country in progressing and making every individual independent with respect to their goals.
The capital city of Tanzania is Dodoma which is landlocked and due to this the commercial capital of the country is Dar Es Salam which is a metropolitan city and is the hub for all commercial and public business activities as it consists of the industries. Also, due to the presence of the Indian Ocean bordering Dar Es Salam, it makes business easier as trade is possible from the main port there.
Bordering the Indian Ocean, Dar Es Salam is the hub of business for Tanzania due to the international seaport, international airport as well as tourist attractions. The availability of resources in Tanzania is what makes the country consist of tremendous investment opportunities which also includes real estate. The company that brought a Real Estate Investment Trust (REIT) for the first time in Tanzania or Eastern Africa was Watumishi Housing Company (WHC) and it was licensed by the Capital Market and Security Authority (CMSA) in 2015. WHC-REIT is the main executing body of the Tanzania Public Servant Housing Scheme which consists of building around 50,000 housing units in five phases that started from the FY15.
Although REIT’s are a new concept in Tanzania but it has brought in a great opportunity for the citizens in order to participate and create personal wealth and help in developing the country more and more. In order to go on with this, WHC-REIT continues to work with national as well as foreign fund managers and stakeholders in order to turn the real estate market profitable for all the parties that are directly or indirectly involved in it.