Sunday, August 13, 2017

Govt developer extends housing scheme

WHC chief executive officer, Dr Fred Msemwa

WHC chief executive officer, Dr Fred Msemwa 

By Rosemary Mirondo @mwaikama

Dar es Salaam. The government-owned property developer, Watumishi Housing Company (WHC), is now allowing employees from the private sector to buy its houses.

Basically, WHC is a property developer and a licensed fund manager for management of the WHC Real Estate.

WHC-REIT was licensed by the Capital Market and Security Authority (CMSA) in 2015 and became the first fully-fledged REIT to be established in Tanzania and East Africa.

As a property developer, WHC-REIT is the main implementer of the Tanzania Public Servant Housing Scheme tasked with building of 50,000 housing units in five phases commencing from FY 2014/2015.

Houses are being sold under mortgage arrangements to public servants and other eligible members of the public across Tanzania.

But the WHC chief executive officer, Dr Fred Msemwa said yesterday that the company was shifting its focus with a view to start selling its houses to workers employed in the private sector. To qualify however, the worker in question must be a member of a pension fund including National Social Security Fund (NSSF), PSPF, LAPF, PPF and GEPF.

“The government aims to improve the lives of its people and therefore, we have opened doors for both public and private sector workers to enable them have decent houses,” he said.