Watumishi’s Mikocheni apartments 40pc cheaper

DAR ES SALAAM: WATUMISHI Housing Investments (WHI) is set to launch a major housing initiative in Mikocheni, Dar es Salaam, with 101 newly constructed apartments being offered at discounts of up to 40 per cent.

The 12-storey building, funded by the government with an investment of 18.6bn/-, is scheduled for completion in 18 months.

“This construction is part of the implementation of the public servant housing scheme, which is being carried out by Watumishi Housing,” said Dr Fred Msemwa, the WHI Executive Director, during the signing ceremony with the contractor on Tuesday.

Dr Msemwa stated that upon completion, the houses will be sold at a reduced price to public servants.

According to him, the prices will range from 99m/- to 234m/-.

“Apartments size will range from a one-bedroom to three-bedroom,” Dr Msemwa said.

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WHI research found that the price of the apartment will be cheaper by between 10 and 40 per cent compared to the market in Mikocheni.

Additionally, he said the Mikocheni apartments are part of plan to construct 218 houses in Dodoma, Lindi, Mtwara, Singida, Coastal and Ruvuma regions in this fiscal year.

The WHI Director of Consultancy and Innovation, Mr Sephania Solomon, said the self-design building will have 10 single room apartments, two bedrooms are 52 and the three bedrooms are 39.

WHI operates as a fund manager of public servants housing scheme under Real Estate Investment Trust (REIT) and a Collective Investment Scheme (CIS) currently managing Faida Fund.