NSSF Tanzania plans to rent and sell its property
Monday December 16 2019
Tanzania's National Social Security Fund (NSSF) financed the construction of the $143.5 million plus Nyerere Bridge. PHOTO | FILE | NATION MEDIA GROUP
Tanzania’s National Social Security Fund (NSSF) is now looking to sell and rent out its multi-billion-dollar real estate properties in Dar es Salaam, in a new bid to boost revenues.
Prominent NSSF buildings up for sale or to let include high-rise structures and high-end luxury villas in upmarket parts of the city.
NSSF director general William Erio said the fund is carrying out a valuation exercise on properties in Dar es Salaam’s Kigamboni satellite city before placing them on the market for buyers or tenants.
Looking to increase its revenues, NSSF some years ago began investing heavily in real estate, including high-rise buildings in Dar es Salaam and other towns in Tanzania.
The 32-storey Mzizima Tower building in downtown Dar es Salaam is approaching its final construction stage.
NSSF also financed the construction of the 680 metre, $143.5 million plus Nyerere Bridge that links the Kigamboni satellite city with the rest of Dar es Salaam.
In the Kigamboni satellite city alone, NSSF built 161 residential houses in the Tuangoma area, 820 houses in Mtoni Kijichi and 439 houses in Dungu.
NSSF is also financing the setting up of pesticides, mills and granary factories plus other agro-based industrial ventures in Tanzania.