Wednesday, January 21, 2009

An economic investment project kicks off in Dar

DIRECT Foreign Investment (DFI) in Tanzania is rapidly expanding with newly commercial centers being constructed in most parts of the country, and Dar es Salaam city is taking the lead in real estate development. For the last five years, a number of buildings within Dar es Salaam city have been constructed for commercial purposes to signify the development of the sector in the country that seems to be booming in the wake of trade liberalization. Within the period under review, the city residents have witnessed the development of the sector which is coming up with more skyline buildings within the city and its environs. But the most fascinating is the establishment of shopping malls, supermarkets etc. An example of such buildings is the largest shopping and entertainment complex, the so-called “Dar es Salaam village commercial retail complex” at Kijitonyama suburb on the outskirts of Dar es Salaam city. The project is currently under its preliminary stage of the intensive construction work which is being carried out by a team of architectural experts from the Dar es Salaam based Archplan International Limited. This is a multi-billion worth of an economic investment complex owned by an International company, a Dar es Salaam based ZEG group International Limited, which on its completion would be the largest shopping and entertainment complex in the city of Dar es Salaam whereby prospective investors would run their businesses and later earns the company with money. The site on which the building is under construction lies on the plot “No. 717/5 that belonged to the former Tanzania Posts & Telecommunications Corporation (TP&TC). The company bought the land for this extensive investment development which was long privatized under the national privatization program.

Workers at work on a proposed site for the so-called “Dar es Salaam Village Complex” which is currently under preliminary stage of intensive construction at Kijitonyama suburb on the outskirts of Dar es Salaam city. Demolition takes place in the background.

The main contractor, the Six group International Ltd keeps abreast with the work in progress in collaboration with other sub-contractors to ensure it finishes the project work at the set time. The project which has up to now consumed a period of three and a half months since it started is moving on in a rapid pace with the main civil works still going on. A spot check at the site recently shows that the demolition exercise of the former TP&TC buildings is still going on and workers were busy with the work.
The main civil works on the stage includes construction of the foundation and the designed underground water tank reservoir capable of preserving over 100,000 liters of water is underway. This has been selected in order to keep water supply intact in the area during water blues, a common situation in the city of Dar es Salaam. According to one site engineer (a Chinese origin) of the construction company who preferred anonymity, the construction is set to be finished by December 2009.
However, an official from ZEG group International who was not in a position to give more details of the company’s project said, the project was established with the objectives to contribute to the acceleration of the growth of Tanzania’s economy and is expected to create several job opportunities for Tanzanians on its completion, and between 2,000 and 3,000 people are expected to be employed. According to him, the area had been selected as the most convenient site for the allocation of the project so as to attract local and international investors to enjoy the benefits and privileges of the shopping activities. The facilities to be found at the site apart from water tanks reservoirs would include, a cafeteria, parking areas and a standby generator of a highly KVA volts, this would cater for the need incase of electricity power blues. All these facilities would be made available.

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