This archive report was first published on 16 December 2019.
On December 16, 2019, Tanzania's National Social Security Fund (NSSF) announced plans to sell and rent out its multi-billion-dollar real estate properties in Dar es Salaam to boost revenues.
The fund, which has invested heavily in real estate, including high-rise buildings in Dar es Salaam and other towns in Tanzania, is now looking to capitalize on its property portfolio.
According to NSSF director general William Erio, 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.
Among the properties up for sale or rent are high-rise structures and high-end luxury villas in upmarket parts of the city, including the 32-storey Mzizima Tower building in downtown Dar es Salaam.
The fund has also financed the construction of the 680 metre, $143.5 million Nyerere Bridge that links the Kigamboni satellite city with the rest of Dar es Salaam.
Additionally, NSSF has built over 1,400 residential houses in the Kigamboni satellite city alone, including 161 houses in the Tuangoma area, 820 houses in Mtoni Kijichi, and 439 houses in Dungu.
