The National Housing Cooperation (NHC) and the Dar
es Salaam Stock Exchange (DSE) have inked a USD 1.8 million (3.3bn/-)
partnership contract for a real estate development project in Dar es
salaam.
The three year project is for the development of Morocco square, a 105,000 square meters of envisioned Business Park.
Speaking during the signing ceremony NHC Director General, Nehemiah
Mchechu said; “The project was established to improve the business
environment in Dar es Salaam considering that the city is rapidly
growing and the demand is very high.”
“Once completed, the building will have all important amenities of a
business complex a such as offices, hotels, residential apartments,
parking, banks and shopping malls,” he said.
In his closing remarks, he noted that most Tanzanians are not aware
of the importance of buying share on the bourse and more awareness
initiatives are needed.
“Buying shares diversifies ones income sources and helps the stock
market expand and that way improve the country’s economy,” he said.
DSE Director General Moremi Marwa said moving the DSE offices to
the new complex under construction will help them save funds used to pay
rent.
“We are spending too much money in paying rent so once the building
is completed we shall be in a better position to save more money,” he
said.
He too called on the public to change their attitudes that the DSE
is for foreigners and said investing through share buying helps a person
diversify their revenue sources.
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