By The Respondent Reporter
The Tanzania Buildings Agency (TBA) has welcomed a delegation from FIT Group, a Nigerian investment company, for their second visit as they explore real estate investment opportunities in Tanzania.
The investors are assessing TBA-owned properties for potential joint development, with their visit including high-level meetings and site inspections.
During discussions with TBA, FIT Group representatives received a detailed presentation on the agency’s urban development strategy and were introduced to prime investment opportunities.
The delegation later toured key real estate sites in Magomeni Kota, Kinondoni Manyanya Kota, and Ilala Mchikichini Kota in Dar es Salaam.
Speaking after the visit, FIT Group’s senior consultant, Godbless Safugha, expressed strong interest in Tanzania’s investment landscape.
“We are exploring investment opportunities across East Africa, but Tanzania has particularly impressed us.
TBA’s strategic locations in Dar es Salaam and Dodoma present excellent potential, especially in the real estate sector,” he noted.
FIT Group plans to inject between $30 million and $40 million into the Tanzanian real estate market, with the investment expected to generate over 10,000 jobs for local youth.
Additionally, Safugha revealed that FIT Group is finalizing a memorandum of understanding with TBA, which will serve as a foundation for future investment agreements and development projects.
TBA’s acting director of property management, Fredy Mangula, emphasized the significance of FIT Group’s visit, reaffirming TBA’s commitment to attracting investors to address the country’s housing shortage.
He invited both local and international investors to explore opportunities across Tanzania’s regions, where the demand for quality housing remains high.
Mangula also highlighted that this initiative aligns with President Samia Suluhu Hassan’s directive issued on March 21, 2022, during the inauguration of 644 housing units in Magomeni Kota, Dar es Salaam.
The directive encouraged strategic partnerships to expand access to modern and affordable housing across the country.
