The public entity which is a licensed fund manager for management of the WHC Real Estate Investment Trust (WHC-REIT) has already bought 50 acres and expects to start with 100 houses in the current financial year, according to the company’s chief executive officer Fred Msemwa.
“The WHC board has endorsed the move after we acquired land at Njedengwa near University of Dodoma, which is conducive for the project. The area has tarmacked roads, water supply and electricity.”
He said the houses will be sold to public servants at between Sh35 million and Sh65 million.
WHC-REIT is the main implementor of the Tanzania Public Servant Housing Scheme.
The programme is tasked with building 50,000 housing units in five phases — from the 2014/2015 financial year.
So far, the firm has constructed 700 houses.
The first phase of constructing houses in Dodoma will start this financial year. Other phases will depend on the availability of funds.
He called on public servants to purchase WHC houses which are sold at reasonable prices instead of constructing their own houses which will involve a lot of money.
Meanwhile, WHC sold its units to pension funds through collective investment schemes.