Manhattan Gardens to kick off signing of prospective owners
Dar es Salaam.After achieving a milestone in the property industry by stablising prices, Manhattan Gardens will on Saturday, July 15, kick start the signing event which marks the official commitment to buyers who have reserved their apartments and paid the holding deposit.
According to the developers, Coral Property Holdings Ltd, the event serves as a testament to the vibrant economy and stability of the local and regional government.
The developers who are working with renowned general contractors Hainan International, say they have broken records by selling out its entire inventory within 18 days.
“This unprecedented success in off-plan developments in Tanzania showcases the immense demand and investor confidence in the project,” reads a statement.
It adds: The achievement not only reflects the exceptional quality and appeal of Manhattan Gardens but also demonstrates the market's responsiveness to fair pricing coupled with a prime location and top-notch amenities.
James Prevost, the Regional Director of RE/MAX Tanzania, on his part said the overwhelming success of Manhattan Gardens was quite remarkable and a sign of better times.
"The explanation is simple: when you price a property with fair market value, complemented by a great location and amenities, it sells. For years, Masaki in Dar es Salaam has been plagued by inflated prices. With the outstanding success of Manhattan Gardens, we hope that developers and owners will reconsider their price points,” he said.
Mr Provost added: This development marks a new chapter in the Tanzanian property market, where market stability and respect for astute investors and first-time homeowners prevail.
The development offers a range of apartment sizes, starting from one-bedroom units priced at $122,000, two-bedroom units from $179,000, and three-bedroom units from $283,000.
Mr Provost says the extraordinary response underscores the pent-up demand for reasonably priced properties that meet the needs and expectations of discerning buyers.
During the grand signing event, should any buyers who have reserved units fail to attend, the next buyer in the queue will have the opportunity to secure the unit.
Interested buyers are advised to be present until 5:00 PM to ensure their chance to take advantage of this opportunity.
Real Estate analysts just like Mr Provost believe that with the success of Manhattan Gardens, the property market in Masaki is poised to stabilize, providing a more respectful environment for both astute investors and first-time homeowners.
“This development represents a new dawn for the Tanzanian property market, where fair pricing, strategic locations, and desirable amenities create an environment of growth and prosperity,” said one analyst who preferred anonymity.
