NHC launches Morocco mega housing project!

NATIONAL Housing Corporation (NHC) has launched its Morocco Square Towers in Kinondoni District, Dar es Salaam, which is the biggest three level square towers in East and Central African region.

The towers whose construction expenses stands at over 150bn/- to its final grounding was launched on Friday evening by the Deputy Minister for Lands, Housing and Human Settlements Development, Ms Angela Kairuki. Speaking during the launching ceremony, the NHC Director General, Mr Nehemia Mchechu, said that the Square Towers offers spaces for multiple and local businesses, residential, Hotels, Cinema Halls and shopping malls.

“The Morocco Square consists of three blocks including a shopping Mall which is bigger than the current Mliman City,” he said, adding that the Shopping Mall at the Morocco Square consists of 20,000 square Metres bigger than Mliman City that occupies 18 square metres.

The shopping mall includes banks, chain of stores, supermarkets and shops, movie theatres, kids grounds and food courts, among others. Apart from the multiple businesses space, the Morocco Square also consist of other two office blocks and one of them is a Stock Exchange Tower that stands to accommodate and upgrade the current Dar es Salaam Stock Exchange (DSE).
According to Mr Mchechu, the tower (Stock Exchange Tower) will enable the management of the Dar es Salaam Stock Exchange to shift to the tower, a move aimed at upgrading the nation stock exchange to international level “The Stock Exchange Tower also stands to attract other business people involved in stock exchange enterprises,” he noted.

He called on business people from in and outside the country ready to invest in the Morocco Square to come out and book their spaces for merry businesses and other services.

In another development, Mr Mchechu said that the Corporation is in discussion with the government to provide a bridge to be at the Morocco Square to enable easy movement of customers, business people, among others, to visit the Square tower easily.

“We have started discussion with the World Bank and we are actually finalising with the government to provide a bridge from the BRT,” he noted. When launching, the Square Tower, Ms Kairuki stressed the need for local business people to come and make use of the facility in the development of their business among other issues towards their economic development and the nations.

“I would like to emphasise the need for Tanzanians to come out and buy the house spaces in the Squares to develop their businesses,” she said, pointing out that the business people willing to rent in the towers, to acquire for loans from the banks in order to enable them acquire accommodations.

Under the Mortgage Financing Act 2008, Ms Kairuki said that over 19 banks among the 50 in the country had agreed to offer loan houses to Tanzanians where among others, 16 signed a contract to offer loans to people willing to buy NHC houses.

On the other hand, the deputy minister pointed out that the government was committed to ensure the loan interests is reduced in order to enable many people be able to acquire loans.

“The government will continue to collaborate and discuss with other stakeholders including the Bank of Tanzania (BoT) in order to see banks offering soft loan houses for many Tanzanians to be able to acquire and own their houses,” she said.

/Daily News.