WHC chief executive officer, Dr Fred Msemwa
In Summary
- Basically, WHC is a property developer and a licensed fund manager for management of the WHC Real Estate.
- WHC-REIT was licensed by the Capital Market and Security Authority (CMSA) in 2015 and became the first fully-fledged REIT to be established in Tanzania and East Africa.
Dar es Salaam. The government-owned
property developer, Watumishi Housing Company (WHC), is now allowing employees
from the private sector to buy its houses.
Basically, WHC is a property developer and a licensed fund manager
for management of the WHC Real Estate.
WHC-REIT was licensed by the Capital Market and Security Authority
(CMSA) in 2015 and became the first fully-fledged REIT to be established in
Tanzania and East Africa.
As a property developer, WHC-REIT is the main implementer of the
Tanzania Public Servant Housing Scheme tasked with building of 50,000 housing
units in five phases commencing from FY 2014/2015.
Houses are being sold under mortgage arrangements to public servants
and other eligible members of the public across Tanzania.
But the WHC chief executive officer, Dr Fred Msemwa said yesterday
that the company was shifting its focus with a view to start selling its houses
to workers employed in the private sector. To qualify however, the worker in
question must be a member of a pension fund including National Social Security
Fund (NSSF), PSPF, LAPF, PPF and GEPF.
“The government aims to improve the lives of its people and
therefore, we have opened doors for both public and private sector workers to
enable them have decent houses,” he said.
The Citizen
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