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The DarProperty August 2014. The Ultimate Property Guide.TRANSCRIPT
The DarProperty August 2014 1
FreeCopy
The
Issue No 30 | ISSN 1821-7753August 2014
www.darproperty.co.tz
The Ultimate Property Guide
FREE
COPY
The DarProperty August 20142
The DarProperty August 2014 3
The DarProperty August 201444 The DarProperty September 2013The DarProperty March - April 20122
AVAILABLE FROM:In Dar Es SalaamSlipwayJ. D. PharmaciesAirport Terminal 2All Shopping MallsVillage SupermarketNHC - Head QuarterScholastica Book ShopsAll Novel Idea Book ShopsPremium Super MarketsBundu Shop - Southern Sun Oysterbay Shopping CenterNakiete Pharmacy - MwengeHome Shopping Center Renowned Hotels & OfficesTanzania Investment Center (TIC) All Major Real Estate Agents
Arusha Points Mt Meru Hotel Ngurdoto Hotel Kibo Palace Hotel Impala Hotel Naura Spring Hotel Themi Suites Njiro Complex TFA Complex New Arusha Hotel Naazi Hotel Barista Cafe All Major Banks Woolworth Stores JJ black Stores Snow Crest HotelSmart Choice SupermarketsShoprite Supermarket
PublisherDarproperty Tanzania
Editor In ChiefLarson Chumi
Business Development & ProductsAbdallah Mugasa
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Dennis [email protected]
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DistributionBoniface Metta
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Royal OvenPizzeriaCasinoCofee ShopU-turn SupermarketNono SupermarketImalaseko SupermarketIsamilo LodgeYunni Minni SupermarketMwanza HotelGold Crest HotelJb Belmount HotelRyan’s Bay HotelTilapia HotelVictoria Palace HotelMalaika Beach ResortFast JetBanks & Offices
In ZanzibarChavda HotelDhow PalaceBeyt al Chai HotelZanzibar Coffee HouseMtoni Marine HotelZanzibar CaféStone Town CaféDiplomatic SupermarketTembo House HotelMaru Maru HotelZanzibar Serena Hotel
Mwanza Points
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The Darproperty is published by Darproperty Tanzania Company. All rights reserved.The contents and opinions expressed herein are not necessarily the representation of publisher’s view. All material published is deemed to originate from the author and will not accept any liability whatsoever in respect that have been sourced from contributors. Users are required to make their own judgement on the details contained in each advertisment. While every caution is taken in compiling the contents of this magazine, the publisher will not accept any liability for the effects arising thereof. No part of this publication will be reproduced with out written consent from Darproperty Tanzania Company.
The DarProperty August 2014 5
The DarProperty August 201466 The DarProperty August 2014
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The DarProperty August 20148
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Tanzanias leading land & property agent
Dar es Salaam
Tanga / Pangani
Contacts
Arusha
Property img
FOR RENTUpanga - studios
USD 1,300 / month
Property img
Dar es Salaam Arusha Tanga / Pangani
Annabel Burdes
Representative Tanga / PanganiTel. +255 784 632 529
Anders Wehtje Raphael Nondi
FounderTel. +255 785 984 467
Manager Dar es SalaamTel. +255 717 032 633
FOR RENTMoshono – 2 b/rUSD 220 / month
FOR SALEPangani – hotel plot
USD 150,000
Property img
Property img Property img Property img
FOR RENTAda Estate – officeUSD 3,500 / month
FOR RENTMasaki – 2 b/r – all incl.
USD 2,500 / month
FOR RENTAda Estate – officeUSD 1,850 / month
Property img Property img Property img
FOR RENTNjiro, AGM – 3 b/rUSD 800 / month
FOR RENTBurka – behind ISM - 2 b/r
USD 800 / month
Property img Property img Property img
FOR SALEPangani – beach - top class
USD 350,000
FOR SALEPangani – beach cottage
USD 200,000
FOR SALESange – beach – 6 acres
USD 125,000
www.tzagents.com
FOR SALETengeru – 5 b/r
USD 195,000
The DarProperty August 201410
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OTHER PROPERTIES FOR RENT IN MASAKI
SEA PRINCESS APARTMENTS DAYS INN APARTMENTS
SAPPHIRE HEIGHTSNOWRENTING
Sapphire Heights is a newly developed residential building located in prime area of Masaki, conveniently situated on Haile
Selassie.The property offers fully furnished luxurious and spacious 3 bedroom apartments, with amenities including:Parking,
GYM, Swimming pool, Standby Generator, and24 hour security.The propertyislocated within close proximity to colosseum
Gym, Sea Cliff Hotel, Supermarkets and Restaurants.
For rental enquiries please contact:Cell: +255 (0) 689 578 785
Email: [email protected]
The DarProperty August 201412
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HONG XINGR E A L E S T A T E & D E V E L O P M E N T C O M P A N Y L I M I T E D
Hong Xing Real Estate and Development Company Limitedwas founded in September 2013. Under two fully experienced Directorsteamed with qualified and trained staff to obtain the best results that leads people torecognize excellence within competition in the real estate industry.
We are a Professional Agency dealing with all types of Prime LocatedProperties for Sale and Leasing, focused in providing advanced propertyservices and consultation to both Owners and Purchasers of Properties.
Looking for the followingPrime Located Propertiesunder Reasonable Prices
COMMERCIAL / RESIDENTIAL 5 Star Hotel (Masaki/Coco Beach area
4,000SQM to 10,000SQM)Office HQ (Masaki/Coco Beach/Mikocheni
4,000SQM)
0777-666 789 0787-888 786 0773-678 [email protected] / [email protected]
NO AGENTS
Office HQ (Masaki/Coco Beach/Mikocheni4,000SQM)
Office HQ (Kinondoni/Mikocheni/Kawe/Up to Bagamoyo
2,000SQM)
Appartments(Must be close to the Beach
2,000SQM+)
Logistics Godown(Industrial Plot preferably on main road
10,000SQM) x 3
Cement Factory (Not too far out of townNo Size Mentioned)
Appartments(Masaki/Msasani/Upanga
1,000SQM+)
MIKOCHENI / MSASANIMANDELA ROAD / PUGU ROAD
OYSTERBAY / MASAKIBAGAMOYO ROAD
INDUSTRIAL
The DarProperty August 20141414 The DarProperty August 2014
Golden Rule 1: Risk is equal to yieldAs with any endeavour in life; the higher the risk, the higher the reward. To express this using our newfound understanding of cap (capitalisation) rates, we would say the lower the risk, the lower the cap rate. In other words, for an investment with low risk, the market would capitalise the rental income at a low cap rate (that is, a high factor); the market would apply a high cap rate (low factor) to rental income from a risky property.Consequently, the aim with real estate is not necessarily to seek the property with the highest return, but rather, the property with a good compromise between risk and return that is appropriate (and profitable) in your circumstances.If you can buy a low-risk property (low market cap rates) with a high return, you have found your deal of the decade. Golden Rule 2: Ensure safetyWhat is more important: return on capital or return of capital? What good is a ROI (return on investment) of 25% per annum if the investment goes belly up after two and a half years? Make sure your capital is safe, which includes insuring your properties against earthquakes, fire and other natural disasters. Golden Rule 3: Control your liabilitiesWhile we generally have control over our assets, we have relatively little control over our liabilities. In many parts of the world, it is impossible to fix the interest rate on your mortgage for more than a few years. For commercial property where you can, make sure you fix the interest rate on your bond.One of the big advantages of the real estate market in the United States, relative to many other countries, is that it is possible to obtain mortgages – even 30-year mortgages where the interest rate is fixed. I am astounded at the number of investors who choose not to fix their interest rate. For the sake of perhaps a 0.5% lower initial interest rate, they are willing to risk interest rates going through the roof in the future. It is a folly, committed not only by a legion of otherwise sane investors, but also aided and abetted by armies of mortgage brokers who, no doubt, receive larger
THE 13 GOLDEN RULES OF COMMERCIAL REAL ESTATE
INVESTING
The DarProperty August 2014 15
commissions on loans that turn out to be more lucrative for the banks.Furthermore, you should avoid any requirement for a personal guarantee on real estate loans. The reasons are twofold: First, a real estate investment should stand on its own two feet. The risk of having a personal guarantee is that it may be called up, and you would be forced to pay off the principal debt component (or capital) on a loan taken out by an entity with limited liability. Signing a personal guarantee, of course, breaks this liability firewall.Second, when you apply for future loans, banks will often ask for a list of your contingent liabilities – liabilities that may end up on your shoulders. The more items on this list, the more reluctant a bank will be to lend you any more money.Golden Rule 4: Add value to a dealIf you buy a fully leased, commercial property at a fair market price, you are going to have to wait for inflation to increase the value of your rentals – and thus the capital value. Alternatively, if you buy a property with vacant space, with some rentals that are below market, rooftops that are underutilised, storage space that is not leased, and a host of other features that you can do something with, then you can exchange your ideas,
thoughts, energy and enthusiasm for huge chunks of capital value very quickly. In other words, you are an extremely important factor in the real estate you acquire.Another way of expressing this is to say that, when I buy a property, it is a different property from when you bought it. Physically, it is the same property, but with the ideas that I brought to the table, the property itself ends up being different. Whether you like it or not, you end up being part of the equation. That is why the more ideas you have in your head, the more value you add.The most valuable piece of real estate is the six inches, give or take an inch or two, between your right ear and your left ear. What you create in this space determines your ultimate wealth and happiness. Golden Rule 5: A broker or agent must bring something to the dealJust as you become a part of the equation, your broker, or buyer’s agent, must also bring something to the deal. Remember, in most parts of the world, sales commission is paid by the seller. If you choose to enlist the services of a buyer’s agent, make sure they contribute something of value, other than simply an email with present listings. Agents with whom I have worked over time know to bring me not just real estate listings, but also background information, pending zone changes, ideas for alternative uses, and even prospective tenants. Furthermore, they willingly make this extra effort, as they know that doing so will result in more deals being closed, and therefore, more commission for them. Golden Rule 6: Real estate is a long-term investmentOne of the aspects of commercial real estate that I particularly enjoy is that you can buy a property, have some rudimentary management in place, and then all but forget about it. In fact, you could take a six-month cruise and not have to worry on a day-to-day basis whether everything was all right. However, if you need more nail-biting, nerve-racking excitement, then trade stocks, where you generally have to monitor the market by the hour; or trade futures, where you have to monitor the market by the minute; or trade currencies or other derivatives, where you have to monitor the market by the second.Also, take note that you will not find many stock traders over the age of 50, many options traders over the age of 40, many
currency traders over the age of 30, or many futures traders over the age of 25. These nail-biting, glued-to-your-screen professions burn people out. They also require that their practitioners complete another deal to earn another dollar.Meanwhile, back on your cruise boat, you are reading books or mingling with people, knowing that your tenants will pay rent that month, whether you have worked or not. Never sell. When you sell, you lose your income stream from an asset that is rising steadily in value. Golden Rule 7: The number of voting partners is directly proportional to the failure of the projectThis rule is almost self-explanatory. It is a variation of the cliché ‘too many cooks spoil the broth’. The best way to avoid project failures through disagreements is to undertake all projects alone. However, there are always economies of scale and great synergies of ideas when you team up with others. The trick, as with all things in life, is to find a good balance between a free flow of many ideas and impasses through disagreements. Golden Rule 8: You are going to be in a lawsuitWhether you are averse to litigation or not, sooner or later, you will end up being in a lawsuit. Stay in good communication with people and try to think outside the box to come up with a solution that may be beneficial to everyone (and a lot cheaper in the long run). Golden Rule 9: It only takes one deal to go brokeAn accident generally comes about, not because one major thing goes wrong, but rather because a whole series of seemingly unrelated things come together simultaneously to cause the catastrophic event. In the case of real estate, interest rates might increase, tenant demand may go down, your space may become obsolete through new technology, a freeway may bypass your side of town, an airline may drop your local airport as a hub; all of a sudden you are facing a crisis that six months prior you had not envisaged and which any of these changes in isolation would
THE 13 GOLDEN RULES OF COMMERCIAL REAL ESTATE
INVESTING
Investment
The DarProperty August 201416
not have caused.Never become complacent. Always keep your finger on what is happening in the market. Try to deal with all challenges as they arise and not as they come together to cause a big event. Fix your interest rates, keep your buildings modern by incorporating new technology, and find out how to keep your tenants happy with the premises they lease from you. Golden Rule 10: It only takes one deal to make a million dollarsJust as it takes only one deal to go broke, you can also make a million dollars from a single deal. When it comes to commercial real estate, it is not always a numbers game, where the more properties you buy, the greater the chance you have of becoming financially free. While, in general, two deals are better than one, you would be far better off working on one commercial property and managing it efficiently and properly, rather than taking on five projects and barely being able to keep up with which tenant owes how much rent. Golden Rule 11: The value of a property is limited by the tenant’s ability to pay rentThis rule is just another way of defining the cap rate. If you cannot find a tenant for a building, then your building will not be worth very much, and no banker will lend you money to buy or refinance it. Your ability to acquire a portfolio – and the subsequent value of that portfolio – depends on your ability to secure stable, long-term tenants.More particularly, the value of a building is not just dependent on what you manage
to get one tenant to pay in rent. What if you lost that one high-rent tenant? The value of a building is dependent on what rent you could get any tenant to pay, within a reasonable time span. Therefore, always work on improving the environment for existing tenants – it will make them reluctant to leave. Then, if or when they do leave, it will be that much easier to find replacement tenants. Golden Rule 12: Appreciation and inflation are compounded annuallyWhile appreciation increases the value of your portfolio, inflation erodes the value of money. This is supremely beneficial for real estate investors.Assume you have a portfolio worth R10 million, with a mortgage ofR9 million. Let us also assume that over time – for the sake of this argument it matters not how much time – the portfolio appreciates to R20 million. This does not mean that the R9 million mortgage appreciated to R18 million. The asset may have appreciated, but the loan was expressed in rands and, at worst (interest only), it stayed at R9 million. Furthermore, through inflation, that R9 million will be easier to pay off (as it is effectively worth less than it was before). This is one of the prime reasons to invest in real estate. These factors work, even when you do not. Meanwhile, flippers, traders and speculators have to keep on working to earn their next rand. Golden Rule 13: You cannot give kindness away – it is always returnedYou cannot beat a crook – even if you have a team of great lawyers, real estate agents, accountants, private detectives
and other professionals. If you successfully litigate and you get what you think you are owed, the crooks will have taken something else somewhere else along the way, not to mention all the wasted time, effort and energy that you put into dealing with these people in the first place, as well as cleaning up the mess they precipitated.There is only one solution: Deal with ethical people. You may not make money as fast, but it will last longer and you will feel better about it. One tremendous advantage of dealing with ethical people is that they tend to hang around with other ethical people. Your circle of acquaintances spirals into more and more enlightened levels of fairness, kindness and awareness. Conversely, when you hang with rogues and rascals, your circle of acquaintances tends to spiral into depraved levels of increasingly severe cheating and deception.Remember, you become the company you keep, so choose your friends and associates very carefully. Be firm about your expectations. Most disagreements come about because of a mismatch of expectations between two parties. Therefore, be aware of your own expectations, and equally important, discuss them with your associates. If you discover a chasm between your way of doing things and that of some associates, turn them into former associates. The world is too full of interesting, kind, knowledgeable and energetic people to be wasting time with takers, no matter how fancy the cars they drive or the homes they live in.By Dolf de RoosFrom Real estate investment magazine
Investment
The DarProperty August 2014 17
Kunduchi BeachTownHouses
Palad International Limited presents a taste of quality ofInternational standards on the shores of the Indian Ocean, along the road to
Kunduchi Beach Hotels (Only 500meters away) Dar es Salaam Tanzania.
Formal Living Room | Formal Dining RoomGourmet Kitchen complete with cooker, hoover and oven
Master bedroom with ensuite, wardrobes and a private balcony2 spacious secondary bedroom all ensuite with built in wardrobes.
+255 754 827 592 | +255 755 999 [email protected] | [email protected] | www.paladinternational.com
Sophicated Luxury Homes
An Investment in Quality and Style
Swimming Pool
24hr security detail
Ample Parking Space
Cental Power Backup Generator
Private area at the rear of each unit
Water Storage facilities for each unit
Carport
Palad International LimitedReal Estate Developer
Amenities
The DarProperty August 201418
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The DarProperty August 201420
Diamond Plaza is a newly developed commercial building located in the business hub of Dar es
Salaam, conveniently situated on Mirambo Street intersecting with Samora Avenue. The modern
executive offices and shops have completed ceilings and floors, as well as Central Air-conditioning
system.
Diamond Plaza is the ideal location for your new office, with the best view. It is in close proximity to
Serena Hotel Dar Es Salaam, City Centre, and Government offices. The property offers many
well-known brands including KFC Restaurant, New York donuts, Subway, black tomato as well as a
supermarket and many multi-national offices.
DIAMOND PLAZANOW RENTING
For rental enquiries please contact:Cell: +255 (0) 689 578 785
Email: [email protected]
The DarProperty August 2014 21
Diamond Plaza is a newly developed commercial building located in the business hub of Dar es
Salaam, conveniently situated on Mirambo Street intersecting with Samora Avenue. The modern
executive offices and shops have completed ceilings and floors, as well as Central Air-conditioning
system.
Diamond Plaza is the ideal location for your new office, with the best view. It is in close proximity to
Serena Hotel Dar Es Salaam, City Centre, and Government offices. The property offers many
well-known brands including KFC Restaurant, New York donuts, Subway, black tomato as well as a
supermarket and many multi-national offices.
DIAMOND PLAZANOW RENTING
For rental enquiries please contact:Cell: +255 (0) 689 578 785
Email: [email protected]
The DarProperty August 201422
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Institution Interest Rate (%)
Mortgage Type
Tenure (Years)
L.T.V Ratio (%)
Azania Bank 15-19 Fixed 15 80
CBA 19 Fixed 15 90
KCB 18-21 Fixed 20 80
B.O.A 18 Fixed 15 90 Stanbic Bank 20 Variable 15 80 N.M.B 19 Fixed 15 80 CRDB 18 Fixed 20 80 Exim Bank 20 Fixed 15 80 Bank of Baroda
16-19 Fixed 15 80
The DarProperty August 2014 23
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Institution Interest Rate (%)
Mortgage Type
Tenure (Years)
L.T.V Ratio (%)
Azania Bank 15-19 Fixed 15 80
CBA 19 Fixed 15 90
KCB 18-21 Fixed 20 80
B.O.A 18 Fixed 15 90 Stanbic Bank 20 Variable 15 80 N.M.B 19 Fixed 15 80 CRDB 18 Fixed 20 80 Exim Bank 20 Fixed 15 80 Bank of Baroda
16-19 Fixed 15 80
The DarProperty August 201424
Free land offers to the National Housing Corporation (NHC) by town and municipal councils will only reduce construction costs
borne by the firm by 20percent.Even though this would not assure customers of affordable houses as most of the structures would sell at between 28m/-and 30m/-Speaking to the Guardian in an exclusive interview in Dar es Salaam yesterday, NHC Director of Business Development, David Shambwe explained that the free plots of land will reduce construction cost by 20 percent. “Once we are able to acquire the land from municipal councils we will be able to cut down construction cost by 20 percent… for that matter, prices of the houses are also expected to plummet,’’ he said.According to Shambwe, currently prices of NHC house range between 34m/- and 50m/- which he said could drop to between 28m/- and 30m/-. He said with a positive response from the municipal councils, the Corporation will be able to build affordable house for various groups of people including teachers, health workers and ordinary citizensShambwe explained that buyers are allowed to pay in installments but at first the buyers is required to deposit 10 percent of the total value of the house in one of the banks that works with NHC under the mortgage system while the remaining amount is to be paid over a period of between 15 and 20 years.He further advised municipal authorities
to purchase the houses for their workers.President Jakaya Kikwete made a directive to town and municipal council to allocate plots of land the National Housing Corporation (NHC) under the mortgage system while the remaining amount is to be period of between 15 and 20 years.He further advised municipal authorities to purchase the house for their workers. President Jakaya Kikwete made a directive to town and municipal councils to allocate plots of land for the National Housing Corporation (NHC) to enable the state firm to build affordable houses for Tanzanians during his official visit to Tanga Region last weekMeanwhile, Alphonse Mwakangale, a Dar es salaam resident appealed to NHC to further reduce the price of the houses to enable low income earners to afford them.He said 30m/- is still too expensive, “the least I can afford is to purchase a house sold between 10m/- and 15m/-’’ A primary school teacher, Rehema Mubarak recommended NHC for doing a good job but said the price is too high for ordinary citizens hence very few people can afford the house.“When a house is built by NHC we are sure of its quality and the idea of selling the house to ordinary citizens is great but most of us with low salaries cannot afford them” he said.According to President Kikwete, construction of the affordable houses is expected to give proper settlements to many people and adorn the municipal councils.In October last year, NHC officially launched the sale of its 496 low cost houses under a project dubbed ‘My House-My
House My Life’ in 11 regions.The houses were sold at a cost of between 36m/- and 41m/-(VAT executed) and between 43m/- and 49m/- (VAT included)The houses are in Movomero |(Morogoro), Mkinga (Tanga), Mtanda (Lindi) Mkuzo (Ruvuma), Bombambili (Geita), Mlole (Kigoma), Ilembo (Katavi), Kongwa (Dodoma), Unyankumi (Singida),Mrara (Manyara)and Kibada(Dar es salaam).
Wriiten By:Devotha Mwachang`aThe Guardian
‘FREE LAND OFFERS WON’T MAKE NHC HOUSE
AFFORDABLE TO ALL’
The DarProperty August 2014 25
6.5 ACRE LAND in Tabata. Title deed, 8 buildings suitable for warehousing, The
area is 3 km from the airport and 600m from the Tabata main road.
$ 800,000 (negotiable)
PLOT FOR SALE- BAHARI BEACH Size: 4919 m2
Clean Title Deed, Suitable for: Apartment projects, hotel projects or any other commercial
related investment.1km to Silver Sand Hotel.Price USD 350,000 negotiable
23 acres beach plot for sale in Kigamboni Mbutu Village. 22kms from the ferry. It is the area before Amani Protea Hotel and
Ras Katani. With title deed, facing the sandy beach @ $ 40,000 PER ACRE.
CONTACT US:Mobile: +255 755 181 222
Website: www.bryanstonproperties.co.tz Email: [email protected]
Located at: Samaki, Nangela Plaza - Mbezi Beach
Please visit our website for more updated listings uploaded daily (over 200 listings available for your perusal)
4 bedroom house (2 ensuit), garden, 24Hr security, a stone-throw away from the ocean, peaceful South Coast Beach
(Gezaulole, Kigamboni). Rent USD 1200/month.
3340 SQM PLOT with brick wall fence for sale, Mbezi Beach Africana Majumba
Sita with a title deed. Suitable for apartment buildings and residential. $565,000
1 storey, 4 bedroom house in Mikocheni kwa
Mawaziri, all rooms self-contained, A/c with a
beautiful garden, servant quarter, electric fence on
1000 sqm plot : sale @ $ 900,000 ( negotiable).
Rent $ 2300 per-month.
Located few meters away from Kilwa Rd Highway. 8 warehouses ranging from 349m2 inclusive of 24-Hr
Fire Alarm & Security System, Pest Control, Comput-
erized Bar Code Tracking System, Truck Scales. RENT
at $8 per m2. per month., SALE (negotiable)
3 bedroom apartment, all self-contained with a/c,
in Mikocheni “A”.4 units in a compound.200m from
both Mwai Kibaki and garden road Kwa Nyerere.
Generator, 24 hrs security, beautiful gardens, $2000
per month.
30 apartments in one compound, Mbezi Beach Tank Bovu.
1 bedroom -$350, 2 and 3 bedrooms -$650, inclusive of Service charge.
Plots with Title deeds for sale
-BUNJU “A” per m2 - TSH 16,000-Goba Mtambani per m2 - TSH 15,000-Gezaulole kigamboni per m2 - TSH 16,000-Mbezi Beach Tank bovu - 1600 m2 $ 95,000 -Ununio Tegeta - 2400m2 $ 125,000-Mbezi Beach - 4500 m2 facing Bagamoyo Rd, $1m-Mbezi Beach - 2300 m2 second plot from Bagamoyo Rd, with two apartments, $700,000
CALL FOR MORE PLOTS ALL OVER
DAR ES SALAAM.
Apartments for rent in Bahari beach, 8 UNITS in one
compound, 1 bedroom, fully furnished with a/c,
standby generator, 24hrs security, club house, facing
the Tarmac rd, short term
rentals at $ 600 per month.
Plots for sale in Kigamboni Mwasonga, NOT surveyed farms with village land
certifi cates, 35km from Ferry, Near Dar es Salaam Zoo. $3500 PER ACRE (5 and 10
acres AVAILABLE)
1 storey, 4 bedroom house with A/C, 2 self
contained rooms, 2 seating rooms,servant quarter,
garden, Paved blocks, lock-in- garage. Facing the
Tarmac Rd. Mbezi Beach Africana on a 1000 m2 plot.
Sale: $ 420,000, Rent: $ 1200 per month
We are your pathway to Real Estate management:-Selling, Buying, Managing properties, Rentals and Leasing of:
-Residential-Commercial
- Plots and Lands
1762 SQM corner PLOT for sale in Ununio , 200 meters
from the Tarmac Rd, $62,000 with title
( original price $120,000)
2222 sqm plot for sale with brick wall fence in
Salasala IPTL RTD near Tarmac Rd, with title deed.
$120,000
Kunduchi Beach / Kilongawima; near police quarters,
2 plots in one
compound, 2 title deeds, both 1900 sqm, $ 120,000
negotiable; when build 1
storey house you will enjoy the best ocean view.
www.bryanstonproperties.co.tz
The DarProperty August 20142626
Q: Hello. I am a diplomat residing in Tanzania and have recently been faced with a situation that requires your help. Can you please tell me, do diplomats have to pay Stamp duty on transactions involving real estate made whilst on diplomatic missions? JQ A: Hello JQ, well sadly we don’t have much information to give you a more comprehensive answer to your question perhaps once you have read this and inquire more, you will provide us with more to go on. However to answer you basing on the information at hand, the law is that, diplomatic Missions are exempted from paying such duties, this is provided for in the first schedule to the Diplomatic and Consular Immunities and Privileges Act, CAP 356 [RE:2002] which incorporates Articles of the Vienna Convention on Diplomatic Relations under Article 23(1) that reads as follows: “The sending state and the head of the mission shall be exempted from all national, regional or municipal dues and taxes in respect of the premises of the mission, whether owned or leased, other than such as represent payment for specific service rendered”. Furthermore, the second schedule to the Immunities and privileges Order which are made under Section 19 of CAP 356 [RE:2002], paragraph (iv) provides immunity for Stamp duties and land registration fees in respect of transactions relating to his official premises and principal residence. We hope this helps.
Q: My name is Juma, a resident of Dodoma. I had a plot at a very lucrative area but about two years ago I sold it to a friend of mine. However a week ago someone else came to me claiming that I had sold it to them about 7 years ago. They have my name and a signature on the documents that were used for the transfer. They claim to have paid money through a person with a power of attorney to execute the sale. They say that i have fraudulently involved with that other person to defraud them in purchasing the said plot. I have never signed those documents and I don’t know those people. I know that they have forged everything and this amount to fraud, I think. If we go to court will they be entitled to their own fraud?
approval of the land officer was void and the registration of the transfer by the registrar of titles was similarly void. Hence a person cannot be entitled to their own fraud.
Q: I have a Real Estate Management company that was registered in 2010 and I want to make changes to the memorandum and articles of the company. How do I go about it? Is there some sort of a procedure to follow? Thank you PM
Hello PM, well The Companies Act, CAP 212 [RE 2002] provides for modes in which and the extent to which memorandum and articles of association may be altered. However the alteration of the provision of memorandum must be with respect to the objects of the company by passing special resolution. The procedures for alteration of memorandum of the Association of the company are provided for under Section 8 of The Companies Act, CAP 212 [RE 2002] cited above, that: (1) Alteration
Well we are very sorry about your situation sir and the stress you have been going through. Well the Land Act cap 113 [RE 2002] under Section 29 demands that a certificate of occupancy need to be signed and sealed by the commissioner. It goes further to say that the person to whom the certificate of occupancy is issued have to sign at the bottom of the certificate to show the acceptance of terms and condition of that certificate of occupancy. This can be used as proof, the documents purporting to transfer ownership of a right of occupancy must be registered otherwise those document are invalid and ineffectual. Also from the facts of the case it clearly shows that the supporters were doing this to deceive the buyers or in the long term to deceive the court so that the court can enter judgment in their favor to which will not happen. In the case of Othman Kawila Matata .v.Grace Titus Matata TLR [1981] 23 the defendant caused the deceased person who was proved by the medical consultant to be of not the right mind and could not make rational judgment to execute deed of transfer in her favor. The transfer was approved by the registrar of title. In court, the judge was of the view that deed of transfer was acquired by fraud for the reason of state of mind of the deceased person the transfer was void, the
Ask the Expert Real Estate Laws
The DarProperty August 2014 27
to be done in general meeting.(2) Proper notice of general meeting for 21 days with agenda item included. Read Regulation 40 of Table A of the companies Act, cap 212 (3)Special resolution must be passed as per section 8 (1) of the Companies Act, Cap 212(4)The company must petition to the High court to confirm alteration 21 days from the day memorandum of association is altered. If the court confirms that alteration, it will then issue Certification of Confirmation.(5)If no application is made in respect of cancellation of the said alteration within 30 days after the date on which the resolution altering company’s memorandum was passed, then within 14 days from the end of the period for making such application, the company will take the certificate of confirmation with altered memorandum to the registrar of the companies for registration. See section 8(2) and 8(9)(a) of the Companies Act, Cap 212.
However, with regards to the alteration of the articles Section 13 of The Companies Act Cap 212 [RE 2002] provides for the alteration of Articles of Association of the Company. The procedures are as follows; (1) Alteration be done in general meeting (2)Proper notice of general meeting for 21 days with agenda of altering company’s articles of association. As per Regulation 40 of Table A of the Companies Act.(3)Special resolution must be passed as per section 13(1) of the Companies Act Cap 212 (4)Submitting to the High court the altered articles and special resolution within 14 days for the High court to satisfy itself on whether proper procedure was followed. If the High court confirms, then it will issue Certificate of Confirmation which then together with altered Articles must be taken to the Registrar of the companies for registration. The procedures for altering memorandum and articles of association of
the company are almost the same. You should however take note that, any alteration whatsoever shall be in the mode and to the extent for which express provision is made under The Companies Act.Please do send us your question to:[email protected]/[email protected] mail it to :ABC ATTORNEYS.IT PLAZA, 8th FLOOR, OHIO STREETP.O.BOX 105722, DAR-ES-SALAAMTANZANIA (EA)Tel: +255222110236/0713055195/0786624901For more information, you can also read other articles online atwww.abcattorneys.co.tz
Ask the Expert Real Estate Laws
The DarProperty August 201428
The DarProperty August 2014 29
www.dayliff.com
22 2112515/6 • 22 2184867
27 2547317/8 • 24 2234660/1 • 28 2541971/2
DAR ES SALAAM: KARIAKOO:
ARUSHA: ZANZIBAR: MWANZA:
The DarProperty August 201430
Disclaimer• The Darproperty Magazine is only a property guide where real estate owners or their agents and or their real estate brokers place their property’s sale or rent information with or without pictures.
• The Darproperty Magazine does not take any part in selling, buying, or renting transactions.
• All transactions are governed by your local laws. All offers and promotions on this magazine are subject to change without notice.
• The Darproperty Magazine provides you, our readers, a venue for obtaining the information contained in this publication and has no control over the legality of any real estate for sale or rent or other offers made by advertisers, the ability of any of the advertisers to complete the sales in accordance with the offers, or the quality of the real estate offered by the advertisers real estate information for sale and or rent is directly published by the advertisers on this publication and hence The Darproperty Magazine takes no responsibility of any of their information and prices and any mistakes in printing or typing. The Darproperty Magazine has no control over whether Advertisers will honor the offers shown on this publication and does not guarantee the accuracy or completeness of the information contained on this publication.
• The advertised real estates and properties on this publication may or may not be available for sale and or rent. In the event you have a dispute with an Advertiser in any way relating to this publication or the use of information from this magazine, you agree to waive and release The Darproperty Magazine from any and all claims, demands, actions, damages (actual and consequential), losses, costs or expenses of every kind and nature, known and unknown, disclosed and undisclosed relating to that dispute.
REAL ESTATEThe ABCs of REAL ESTATE MARKETTOPOGRAPHY The state of the surface of the land; may be
rolling, rough, flat, etc.
Example: The topography in Oklahoma is mostly flat; in West
Virginia, mountainous; in Ohio rolling.
REDUCTION CERTIFICATE a document in which the MORTGAGEE
(lender) acknowledges the sum due on the MORTGAGE loan.
Used when mortgaged property is sold and the buyer assumes
the debt.
Example: Abel buys Baker’s home and agrees to assume the
existing mortgage. They obtain a reduction certificate from
the mortgage lender stating that the remaining balance is
$34,567.89.
GENERAL WARRANTY DEED a DEED in which the GRANTOR
agrees to protect the GRANTEE against any other claim to TITLE
of the property and provides other promises. See WARRANTY
DEED.
Example: Abel received a general warranty deed for land he
bought from Baker. Five year later a defect is found. MRs Cabel,
whose deceased husband sold the land to Baker, actually owns
one half on the property. Abel can claim restitution from Baker
for the half because the deed warranties against all defects
GIFT DEED a DEED for which CONSIDERATION is love and
affection and no material consideration is involved.
Example: Abel, who is on the brink of BANKRUPTCY, EXECUTES
a gift deed to his wife. Since there is no consideration and the
apparent reason for the transfer was to remove the property
from the reach of Abel’s creditors, the deed might not be valid.
In other situations the gift deed would be upheld.
HOLDER IN DUE COURSE one who acquires a BEARER
INSTRUMENT in GOOD FAITH and is eligible to keep it even
though it may have been stolen.
Example: Abel receives from Baker a $100 bill in payment of
rent on his apartment. Police inform Abel that the bill was stolen
by Baker from Cobb. Since the bill is bearer paper and Abel
accepted it without knowing about the theft, he became a holder
in due course and is allowed to keep it.
MBEZI BEACHMBEZI BEACHMBEZI BEACH
+255 789 55 12 42
500meters from the main road
$1.2m
4 BEDROOMS
3 BATHROOMS
3 LIVING ROOMS
SERVANT QUARTERS
FULL AC
3500 SQM
1 COMP. ROOM
GARAGE - TWO CARS
NEAR ENGEN-PETROL STATION
ForSaleForSale
The DarProperty August 2014 31
CLASSIFIEDSmbez
i bea
ch
3 Bedrooms, 2 Bathrooms, Sitting room,Dinning Room, Kitchen, Storeroom,
Ample Parking, Garden.0754 304475
RENT $1,000 Full furnished , 2 Bedrooms, 1 master,
spacious sitting room, public toilet, kitchen , store, two balconies, garden
0658 633808/ 0755 546 305
AREA: 2400 SQM
0754 /0715 - 814780
Furnished Apartment 4 Bedrooms,2 Bathrooms, Sitting room, Generator,Swimming pool, Gym Ample Parking,
0754 /0715 - 814780
5 Bedrooms, 2 Bathrooms, , AC ,DSTV, Kitchen, Ample Parking, Garden.
0787 040 401
1 one acre, Ideal for petrol station0715/0784 281851
mbezi k
wa msuguri
House for sale Size; 3900sqm0759 33 94 95
SALE $50,000 Double storey House for sale
0782 362 218
kijitonyama,
A one flow uncompleted building for commercial or home usage,
28 to 17.5 meters, seven(7) Rooms.0717 545 030 / 0756 446 882
SALE $275,000
mikocheni -
b
Parking, Air condition, Garden24 Hr Security, servant quarters
Tenant paying rent of $3000 per month.0716777999/0777568899
SALE $695,000
mbezi -
kimara
Mbezi, Malamba mawilioff Morogoro road to kinyerezi.
55,000 litres of reserve water tanks0767037735
RENT $1,500
masaki
4 bedroom house , along Chole road2master bedroom, 2other roomsideal for residential / commercial
0713 610922 / 0787 610922
RENT $ -
kigamboni
Kibada, 40M from the main Road,4 Self contained Bedrooms, Study room5000 litre Water reserve, Nice Garden
0713467660
RENT $1,000
mikocheni
300 sqm, 25 meters from Cocacola rd.Opp. East Africa International school
0713294486 / 0766422346
SALE 450m
mikocheni
3-Bedroom apartment in the flats0655575734
RENT $1,800
mbezi b
each
5 Bedroom House,White Sands round about
0754269298
RENT $1,200
gezaulo
le
636SQMGezaulole Temeke Municipality,
0715913814 / 0784913814
SALE 15m
mwenge
3 bedrooms house, servant quarter,garage has aluminium doors andwindows suitable for an office.
0713 228931
RENT
ada estat
e-arush
a
3 bedroom and An auxiliary building,servant quarters
0786259854/0767259854
RENT 150m
goba- dsm
Four bedrooms, next to St . Joseph millennium secondary school
0767264900
RENT $2,200
LIST YOUR PROPERTY HERE FOR ONLYTSHS 30,000/= VAT EXCL.simply call 0767 200 202
RENT $900
mlimani c
ity
teget
a
sale
mlala
kuwa
RENT $2,500
RENT $1150
mbezi b
each
SALE 100m
kibaha mkuyani
sale 550m
bahari bea
ch
The DarProperty August 20143232 The DarProperty August 2014
The DarProperty August 2014 33
The DarProperty August 20143434 The DarProperty August 2014
Darproperty Mortgage is a mortgage brokerage services offered by DarProperty Tanzania.The service is offered in partership with Local and International mortgage lenders,
to ensure seamless process from the mortgage Loan application to closing.
For Details [email protected]
The DarProperty August 2014 35
Darproperty Mortgage is a mortgage brokerage services offered by DarProperty Tanzania.The service is offered in partership with Local and International mortgage lenders,
to ensure seamless process from the mortgage Loan application to closing.
For Details [email protected]
The DarProperty August 201436
MY BEACHOld Bagamoyo Rd. opp Yuasa auto impexP.O BOX 105200. Dar es SalaamTel; +255 22 2701710
NIKUZE REAL ESTATE AGENCYMorogoro RoadP.O Box 10032 Dar Es SalaamTel: +255 789/754/715/ 363 800Email: [email protected]
PHOTO & CO.ESTATEKahama Road/Msasani peninsulaP.O BOX 105121 Dar es Salaam.0786 962 444Email; [email protected].
PROPERTY CONSULTANCY & SERVICES LTD2nd Floor Kevin House - Samora AvenueP.O BOX.7152 - Dar Es Salaam+255 22 2120402, +255 713 690 [email protected]
PRESTIGE PROPERTIESPhone: +255-713-764-447/ 0767471293Tel:+255-22-266-4373Email:[email protected]
SKYMARK REALITIES LTDZanaki st. - Alimanga bldgTel: +255 22 2 134422/33
Tanganyika Estate AgentVillage Walk, close to Sea Cliff Hotel+255 717 032 [email protected]
TRELD COMPANY LTDP.O BOX 7656 Dar es SalaamLocation Msasani Peninsular off toure drive+255 732 222 888, +255 716 777 [email protected]
ARUSHA AWESOME HOMES AND PROPERTIES. Shanti House,Plot 58 Block E Sokoine RoadP. O. Box 249 Arusha, [email protected]+255 754 337 899 / +255 786 337 899
HOMES & PROPERTY AGENCIES LTDLand Surveyors & Property ManagersP. O.Box 10079 ArushaBoma Rd. Arusha0787 [email protected]
Tanganyika Estate AgentShoprite Complex,+255 785 984 [email protected]
ZIPO HOMESRivergardens Business Park, Rm 4P.O Box 20 Usa River, Arusha+255 787 474 580/+ 255 754 320 [email protected]
MWANZAESTATEMwanzaestate.com+255 714 245 [email protected]
Zanzibar - properties.comTel: +255 774 44 19 07Hotel Marine - Malindi Zanzibar
ABLA ESTATE DEVELOPERS & AGENCY CO.LTDMikocheni Opposite Shoppers PlazaP.O BOX 3810, Dar es SalaamTel +255 22 2772506E-mail: [email protected]
+255 755 181 222 www.bryanstonproperties.co.tz [email protected]
GIMCO ESTATE AGENCY LTDSamora Ave, NIC Investment Hse,P.O BOX 8382 Dar es salaam Tel +255 22 2120988Mob +255-784 900041
GOLDBERG COMPANY LTDReal Estate & Mining TradeP.O. Box 22159 Dar es SalaamOld Bagamoyo Rd, Mikocheni B,0715 270 517 / 0754 270 [email protected]. goldbergtz.com
HAMPTONS PROPERTIES TZHaidery plaza - 1st floorupanga/kisutu streetP.O.BOX 6547 [email protected],[email protected] 204083/ 0784 323133
NEW DAY PROPERTY AGENCY COMPANYMwinyijuma Road - Kinondoni,Room no.84, UVCC Complex+255 753 645 434, +255 717 035 552+255 767 575 758www.facebook.com/ raymond samson Laizer
KEY REAL ESTATE SOLUTIONSRegent Chwaku North UrsinoTel: +255 22 27016740715 053 803, 0786 053 803,0754 28 46 84mariam@keyrealestatesolutionstz.comwww.keyrealestatesolutionstz.com
Real Estate AgentsDirectory in Tanzania
DAR ES SALAAM ARUSHA
MWANZA
ZANZIBAR
ENHANCE YOUR VISIBILTY & CREDIBILITYGET LISTED HERE WITH YOUR LOGO
Tshs. 48,500/= Monthly / Tshs. 500,000/= Annually+255 784 23 89 62, 0688 75 18 68 | [email protected]
The DarProperty August 2014 37
chokoleinvestmentl i m i t e d
T h e U l t i m at e O u t d o o r S o l u t i o n s
Mikocheni, Garden Road, Dar es Salaam, Tanzania.+255 786 924373, +255 658 924 373
Worry Free - Money BackGUAR ANTEE
P R O F E S S I O N A L
Designers & Installers of:
Car Shades, Gazebo
Electrical Gates
& Umbrellas
ARUSHA
The DarProperty August 201438
ABC ATTORNEY........................................20&21
AFRICAN VILLAGE ESTATE.............................32
AKIBA COMMERCIAL BANK...................18&19
BRAYNSTON.......................................................25
CHOKOLE.............................................................37
DAVIS & SHIRTLIF.................................................29
GEM.......................................................................12
HALIC CONSTRUCTION.......................................2
HONG XING........................................................13
INFINITE................................................................35
JAMII FORUMS...................................................39
JJP INSURANCE..................................................33
KAMA CONSULT................................................29
LAPF.................................................................1,6&7
LIFE MATE................................................................3
MASUMIN.............................................................26
NEVADA COINS............................5, 8,20,21&40
PALAD INTERNATIONAL.....................................17
SPIK N SPAN........................................................33
TANGANYIKA ESTATE MANAGEMENT...........27
TANZANIA BUREAU OF STANDARDS..............10
PATRON PAGE NO
PATRONS
ADVERTISERS
INDEXIf you like what you are reading
Buy from our Advertisers, remember to mention you saw theirAdvert in this magazine
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DAR ES SALAAM022 27805170784 238 962 / 0713 751 [email protected]
MWANZA0714 245 779
ARUSHA0787 805 566
The DarProperty August 2014 39
Be informed, Engaged &
Entertained,
www.jamiiforum.com
The DarProperty August 201440
Renaissance Plaza is an upcoming commercial building located in the prime area of Masaki, conveniently situated on Haile Selaise Road, Masaki. Renaissance Plaza is the ideal location for your new office. It is in close proximity to colosseum Gym, Supermarkets and Restaurants.
The modern executive offices and spacious shops have completed ceilings and floors, as well as Central Air-conditioning system. We offer Space for Rent for Offices, Shops, Restaurants and Supermarkets.
RENAISSANCE PLAZA
+255 (0) 689 578 785 [email protected]
For rental enquiries please contact
Coming Soon