National Housing Corporation (NHC)provided land and 9bn/- while a partner topped the deficit raising in 16bn/- investment project that has seen the cooperation’s revenue increase multifold from a low 31m/- to an impressive 151m/- annually, that is more than five times more than they were earning before the joint investment.
Speaking yesterday during the launch of the four-star hotel in Arusha, the Nation’s tourist hub, Lands, Housing and Human Settlements Minister Prof Anna Tibaijuka reaffirmed NHC’s initiative to construct affordable houses in rural areas, sub-urban and emerging urban centers across the country.
She had earlier on the same day also launched the Levolosi residential houses where she pointed out NHC’s biased choice of construction sites. According to her, NHC mainly prioritizes building houses in cities and municipalities neglecting rural and sub-urban communities.
“…our people, irrespective of their location need decent houses … so NHC must come up with a plan to include all communities…” she directed and encouraged commercial banks to extend house loans at affordable rates reminding them that the construction of a house is an expensive venture and few individuals can afford to embark on it all on their own and that is where the banks and other loan institutes come in.
The minister also called on the private sector to chip in and partner with NHC in its planned large real estate investment.
“…public-private partnership Act gives NHC mandate to team-up with the private sector to implement large investments…so, it is time to use this opportunity to invest in the sector…” adviced Prof. Tibaijuka.
NHC Director General, Nehemia Mchechu underscored NHC’s willingness to work with the private sector and used the newly constructed hotel as an example explaining that it was the result of partnership with the private sector.
Executive Chairman of the hotel, Dr. Hans Macha clarified that the hotel construction started back in 2008 and was completed in 2011. It has 97 bedrooms and three conference rooms, it employs a total of 120 employees, most of them Tanzanians.