Real estate opportunities aplenty, says Zanzibar's Mwinyi
Dar es Salaam. Zanzibar President Hussein Ali Mwinyi has urged financial institutions to seize the opportunity and invest in real estate saying that there is huge demand for housing units on the islands.
“I urge investors not to fear because the need for housing in Zanzibar is high,” said the Second Vice President of Zanzibar, Mr Hemed Suileman Abdulla, when reading Dr Mwinyi’s speech during the ‘Zanzibar Home Expo’ exhibition organized by the Ministry of Lands and Housing Development.
This year’s motto reads: “Good land use is an opportunity to grow the economy of Zanzibar”.
The exhibition was attended by various financial institutions including NCBA bank, as well as the Zanzibar Housing Corporation and the Architectural Board. The aim of the exhibition is to bring together stakeholders to share experiences about housing and real estate.
Mr Abdulla further invited investors and companies to invest in Zanzibar assuring them better climate.
According to him, the government is preparing city plan by establishing new cities, to build modern houses in areas like Matamwe, Chumbuni and Kilimani on the Unguja side while Pemba put aside Finya and Mfikiwa areas for those projects.
Lands and Housing Development minister Riziki Pembe Juma informed Mr Abdulla that the exhibition was aimed at supporting the blue economy drive.
According to her, the ministry had come up with a comprehensive plan for better land use by planning and constructing affordable houses.
NCBA relationship manager Mulindwa Tishekwa said they know that housing is the dream of many people in the journey of their lives.
“In this case NCBA has prepared to make people dreams to reality because we have cheap loans which will enable them to build or complete houses and construction of any kind for individuals, firms and organizations,” said Mr Tishekwa.
