NHC, developers sign Sh270 billion deal to change Kariakoo skyline

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Mwananchi Communications Limited

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A total of 16 structures that currently house 190 commercial and residential tenants will be demolished to pave the way for the construction of new and modern buildings in Kariakoo

Thirty-nine of the 87 projects are in Dar es Salaam. Kariakoo alone has 24, thanks to its attractiveness to investors. He said that currently, the cost of renting a square metre of space at Kariakoo is higher than in most cities the East and Central Africa. “It is probably only at Kariakoo where a developer gets tenants as soon as he starts putting a building up,” he said, adding that the 21 projects were allowed to proceed with the contract signing after NHC conducted due diligence with the help of other government agencies, including the office of the Attorney General. In his remarks, Mr Silaa said it was the government’s directive to conduct due diligence on the companies that had applied for a partnership deal with the NHC. “After a review of the policy, we do not expect a project to delay for any reason,” he said, hailing the move, which he said will increase the rentable space and asset value.

NHC, developers sign Sh270 billion deal to change Kariakoo skyline

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