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- Sep 4, 2011
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Nimeikuta online: Tanzanian Low Cost Apartments Need funding
Funding Amount Needed : $1,500,000
Hi
My name is Innocent Usangira; I work for Dar es Salaam Stock Exchange In Tanzania, East Africa.I would like to introduce Wazo Investments (T) Limited in which I also a shareholder and director.Wazo Investments (T) Ltd already owns more than 15000square meters of land and is currently looking for Financiers who will be ready to inject US$ 1.5mil to enable us to build up our Low Cost Apartments within Dar es Salaam city. Already we have Business Plan, Designs and Authority Approvals, etc, etcOnce completed, Wazo will have 48 apartments in first phase while targeting to have more than 200 Apartments in 3 phases.Already some money has been committed by us.
The Wazo Low Cost Housing project will be done in Dar es Salaam Tanzania, only 18km from city centre. The project will be 85% funded by external financing means. The Fund seeker; Wazo Investments (T) Limited is a special vehicle to own and run the project. The 100% privately owned and government backed company is determined to build more than 200 unfurnished low cost apartments in its several already owned plots in outskirts of Dar es Salaam. Wazo Investments (T) Limited owns more than 15,000sqm of land within neighbourhoods of Dar es Salaam city.
Wazo Investments (T) Limited seeks to arrange special mortgage financing to make this project a success. The company has already committed into the project more than $200 thousands in kind, cash and future financial obligations. Phase I of the project will rise up 48 unfurnished apartments in 8 modern buildings (each of them will be 6 storeys) in the first implementation phase. Latter on management has provision of furnishing few apartments to target vacation tenants.
The project targets corporate middle class which traditionally prefers living in a modern and well organized neighbourhood right from beginning of their working lives. Following revolution in tertiary education, there has been dramatic growth of Tanzanian middle class while more graduates come out from universities and need of independent housing rather than going back to the villages as most of corporate employments is found in urban areasEach apartment will have 2 bedrooms, lounge, kitchen, bath and toilet.
Other attributes will be full time (24/7) armed response security, guaranteed water supply, a shuttle service to city centre, Private mail box, reserved car park, cash wash bay, DSL-Internet line, shared swimming pool and gymnasium facility.Wazo project intends to exploit range of opportunities available in a very raw, promising and uncontrolled Tanzanian housing market. Due to the common problem of urban migration in most of African countries, the local Housing market is in the boom and is expected to continue with its persistent growth for several decades.
Wazo Investments (T) Limited is seeking for 1.5million USD in terms of loan or private equity to finance the completion of the first phase stage for the project to be operational.The requested amount will enable the company to realize profit in its first year of operation based on the following assumptions:
Loan repayable in 20 years
Exit buyout strategy after 4-5 years
Interest rate 4.0-4.5% per annum
Monthly Repayment schedule for 20 years
Grace period of 15 months to enable completion of buildings while there's close supervision of financier for assurance of proper usage of the finances.
Next Steps
Press the Contact Now button to send and inquiry about the listing
Funding Amount Needed : $1,500,000
| Industry: | Real Estate | Funding Type: | Both Debt and Equity |
| Maturity Stage: | Profitable | Year Established: | 2011 |
| Has Business Plan: | Yes | Revenue: | Not Disclosed |
| Forecasted Revenue: | 300,000 |
Hi
My name is Innocent Usangira; I work for Dar es Salaam Stock Exchange In Tanzania, East Africa.I would like to introduce Wazo Investments (T) Limited in which I also a shareholder and director.Wazo Investments (T) Ltd already owns more than 15000square meters of land and is currently looking for Financiers who will be ready to inject US$ 1.5mil to enable us to build up our Low Cost Apartments within Dar es Salaam city. Already we have Business Plan, Designs and Authority Approvals, etc, etcOnce completed, Wazo will have 48 apartments in first phase while targeting to have more than 200 Apartments in 3 phases.Already some money has been committed by us.
The Wazo Low Cost Housing project will be done in Dar es Salaam Tanzania, only 18km from city centre. The project will be 85% funded by external financing means. The Fund seeker; Wazo Investments (T) Limited is a special vehicle to own and run the project. The 100% privately owned and government backed company is determined to build more than 200 unfurnished low cost apartments in its several already owned plots in outskirts of Dar es Salaam. Wazo Investments (T) Limited owns more than 15,000sqm of land within neighbourhoods of Dar es Salaam city.
Wazo Investments (T) Limited seeks to arrange special mortgage financing to make this project a success. The company has already committed into the project more than $200 thousands in kind, cash and future financial obligations. Phase I of the project will rise up 48 unfurnished apartments in 8 modern buildings (each of them will be 6 storeys) in the first implementation phase. Latter on management has provision of furnishing few apartments to target vacation tenants.
The project targets corporate middle class which traditionally prefers living in a modern and well organized neighbourhood right from beginning of their working lives. Following revolution in tertiary education, there has been dramatic growth of Tanzanian middle class while more graduates come out from universities and need of independent housing rather than going back to the villages as most of corporate employments is found in urban areasEach apartment will have 2 bedrooms, lounge, kitchen, bath and toilet.
Other attributes will be full time (24/7) armed response security, guaranteed water supply, a shuttle service to city centre, Private mail box, reserved car park, cash wash bay, DSL-Internet line, shared swimming pool and gymnasium facility.Wazo project intends to exploit range of opportunities available in a very raw, promising and uncontrolled Tanzanian housing market. Due to the common problem of urban migration in most of African countries, the local Housing market is in the boom and is expected to continue with its persistent growth for several decades.
Wazo Investments (T) Limited is seeking for 1.5million USD in terms of loan or private equity to finance the completion of the first phase stage for the project to be operational.The requested amount will enable the company to realize profit in its first year of operation based on the following assumptions:
Loan repayable in 20 years
Exit buyout strategy after 4-5 years
Interest rate 4.0-4.5% per annum
Monthly Repayment schedule for 20 years
Grace period of 15 months to enable completion of buildings while there's close supervision of financier for assurance of proper usage of the finances.
Next Steps
Press the Contact Now button to send and inquiry about the listing
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