Ivory Tower Ltd, a Chinese real estate
company which invested on the buildings named ‘Palm Village of Dream
Waterfront’ located at Msasani area; said Ms Samia Suluhu Hassan will
officially inaugurate the multi-tower project which is expected to
provide at least 1000 jobs to locals.
Chairman of the company, Mr Janson Huang
said that the project is expected to cost about $70 million (Sh150
billion) until completion of construction work of the project. “The
project is stateof- the-art consisting of one commercial and four
residential towers within one place,” he said.
Among other features, it will have two
floors of retail space along the busy old Bagamoyo road including, among
other things, a supermarket, shops, clinic, bank and restaurant.
Meanwhile, Mr Huang who is also the
chairman of Group Six International Ltd, noted that the company is
expecting to bring into the country around 100 Chinese experts in the
construction sector who will transfer technology to Tanzania by training
at least 2000 Tanzanians in the construction field.
“Each of the experts will train at least
20 Tanzanians through hands-on training during the implementation of
the construction projects in the country,” he said.
Highlighting on achievements of the
company for the past 10 years of its existence in the country, he said
they managed to create 15,000 jobs to Tanzanians, noting that the
company was one of the examples of Chinese investments in the country.
The Tanzanian real estate sector has
been growing sensibly in recent years accompanied by a strong and
sustained economic growth averaging 7 per cent in a fast growing
population of 50 million.
The current demand for housing in
Tanzania is estimated at 200,000 houses annually, and a total housing
shortage of 3 million houses.
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