Property Market in DAR...

[The Truth]

Ndugu the Truth, let me be fair with you and just believe in me the $1.5m houses in Dar are now a common thing! There is an ongoing Bahari Beach Town Development by a private real estate investor, barely off the ground, but already 174 proposed units in one of the 4 adjoining plot have already been fully booked(pre-purchase) and none of these units is less than $220,000; the most expensive is $520,000, and the land lot size is only 320sq.m. In Obay and Masaki you are talking of land lot sizes of over 4,000sq.m and by the way, land values in these areas are anything above $50 per sqm.

True valuers or appraisers/assessors use sales comparison approach in valuing residential properties not just in your USA but also heere in Tz, and we have been astonished at the skyrocketing of property values over the last 3-4 years. A typical swahili house in Kijitonyama fetched hardly Tshs 40m in 2005, today with your Tshs. 100m, you will find it dificult to get a house to buy. I do not thinki this is due to Lukwaza or any EPA money...Tanzania is no longer a producing but a consuming nation, but where do we get the money...maybe laundering...may be too much minerals that are sold our in the illegal market and finally finding its way in real estate! Bongo is Bongo, you can never tell, even the poorest earning person can afford a cell phone, a beer every day and school fees for his kids and will also stay in his own house....mlio nje mlie tu, ni kweli nyumba za bei mbaya zipo mno, hata kama standard hazifikii za huko....ila am not very sure about this. None of the houses in cities like Stockholm, London and Paris can compete against any of the new proeprties being developed and sold in Dar, let us bet...nitawapa mifano kibao

Njilembera,

You have brought up an interesting perspective to this issue. I can tell you from my personal experience (so please don't take it as a general rule), even those Swahili houses are now a target of affluent investors/business people. The investor will normally demolish the existing house and develop a commercial property of some sort to re-coup his or her investment or even develop a more modern residential property. The people who own such houses understand this and they realize the market for such houses. They raise their prices due to high demand of such houses. The residents of Dar are competing for an ever increasingly scarce real estate/land. The population is growing in Dar which makes the situation even worse. But it doesn't have to be this way. There is still vast undeveloped land out there that if people could easily access, will start building. This is where the government should play its part. Develop the necessary infrastructure, make it easier for someone to live in outskirt of Dar to go back and forth into the city. That's how you will alleviate this problem otherwise if you don't do anything about the supply, and just try to regulate the prices or the way the real estate market works you will only make the situation worse.

 

[Zakumi]

You have nailed it

Watu hapa wanalinganisha Osterbay na Manhattan ku-justify price increase. Wakati Osterbay ni residential area na Manhattan in major commercial, financial, and cultural center of the United States and to some extent the world.

Kuna mtu ametoa data nzuri tu hapa kuwa bei imeanza kufumuka miaka minne iliyopita. Miaka minne iliyopita watanzania mlianza kusamehewa madeni na kuanza kupokea Millennium. Sasa hivi mko kwenye spending spree. Hivyo wanaotaka ku-speculate kwa money endeleni lakini sio lazima price iendelee kupanda kwani kuna uwezekano mkubwa wa price kuvutwa shati.

Je mnakumbuka matumizi ya serikali kujenga viwnda Pugu Road na Ubungo. Yale yalikuwa mapesa ya WB na mashirika ya kimataifa. Na walipoacha tuli-burst.

Kama serikali inaweza ku-burst, mtu wa kawaida ni kitu kidogo tu.

 

[mpingo]

Fedha chafu (rushwa, ufisadi, Ugaidi/itikadi za kidini, Madawa ya kulevya, ) katika eneo dogo (Tz) ndio sababu ya bei za vitu vingi hapa Tz kuwa juu. Ukisafisha uchafu huo, mfumo utasimama sawasawa. Kila kitu kitaenda ktk uhalisia wake.

Yote kwa yote in Viongozi wetu..........Dira...upeo....uzalendo....hamu ya kuwakomboa watanzania waliowachagua...........vyote hivyo Zero!

They can fool some people sometime.....but they can not fool all the people all the time...............sijui lini lakini siku yao inakuja.

 

[Katikomile]

Ndugu the Truth, let me be fair with you and just believe in me the $1.5m houses in Dar are now a common thing! There is an ongoing Bahari Beach Town Development by a private real estate investor, barely off the ground, but already 174 proposed units in one of the 4 adjoining plot have already been fully booked(pre-purchase) and none of these units is less than $220,000; the most expensive is $520,000, and the land lot size is only 320sq.m. In Obay and Masaki you are talking of land lot sizes of over 4,000sq.m and by the way, land values in these areas are anything above $50 per sqm.

True valuers or appraisers/assessors use sales comparison approach in valuing residential properties not just in your USA but also heere in Tz, and we have been astonished at the skyrocketing of property values over the last 3-4 years. A typical swahili house in Kijitonyama fetched hardly Tshs 40m in 2005, today with your Tshs. 100m, you will find it dificult to get a house to buy. I do not thinki this is due to Lukwaza or any EPA money...Tanzania is no longer a producing but a consuming nation, but where do we get the money...maybe laundering...may be too much minerals that are sold our in the illegal market and finally finding its way in real estate! Bongo is Bongo, you can never tell, even the poorest earning person can afford a cell phone, a beer every day and school fees for his kids and will also stay in his own house....mlio nje mlie tu, ni kweli nyumba za bei mbaya zipo mno, hata kama standard hazifikii za huko....ila am not very sure about this. None of the houses in cities like Stockholm, London and Paris can compete against any of the new proeprties being developed and sold in Dar, let us bet...nitawapa mifano kibao

UTAFITI WANGU KUHUSU MRADI WA BAHARI BEACH TOWN NI HUU HAPA:-
The company is Integrated Property Investments (T) Ltd (IPITL). IPITL is a property Development and Investments Company Registered in Tanzania, associated with its namesake in the UK, Integrated Property Investments Limited, (IPIL) through common ownership. However, the two organizations do not form a group.

Up to now, IPITL has acquired about 200acres land in the Bahari Beach area of Ununio in Dar es Salaam for developments of Self sustained, independent state of the Art satelite City comprising of Villas, Town houses, apartments, retail units, community centre and all amenities required in a self sustaining town, thus the deserved naming.

Website yao hawajai-update kwa vitu vingi kuna mabadiliko mengi especially after acquiring more additional lands. The phases of construction have also changed to some extent as oppossed to what is seen in their website. Nafikiri watabadilisha soon as ujenzi ndo umeanza rasmi.

There will therefore be state of the art shopping mall, offices, a hospital, international standard hotel, restaurants, schools and police station, not to mention the modern recreational centres and a ferry service that will link the rich, sandy Bahari beach to the main Dar es Salaam port on the one hand and the exotic Zanzibar islands on the other.

Bahari Beach Town is designed to become a self-contained satellite city providing family-friendly environment for a potential resident population of 6’000 people, while its commercial units could serve additional 500’000 people within easy commuting area.

BAHARI BEACH PHASE 1
The phase one project on plots 2, 3 and 5 on 50 acre land has started with construction of show homes villa and town house now on foundation stages. This phase will have 71 units of executive villas and 43 units of town house, making the total units in phase one to be 114 as shown in the attached layout plan. The land has also been filled up at a required level and roads in the estate are being graded for tarmac roads construction.

TOWN HOUSES
This immaculately double storey home set in a tranquil location will have one bedroom, a kitchen, dining room, a big living room as well as a common toilet on the ground floor. On the upper floor, there will be three bedrooms including an en-suite master bedroom with a balcony. There will also be a shared bathroom for the two bedrooms next to the master en suite.

Perfectly positioned for superior lifestyle and pleasure! At Bahari Beach, you will be treated to the therapeutic and soothing views of beautiful gardens, whispering palms, and lush greeenery.
The way I see it, it is the first in Dar es Salaam in terms of the magnitude of a gated community complex providing a safe, classy, lock-up and go environment. People will enjoy the spectacular view of the indian ocean from your luxurious residence.


VILLAS
Each typical villa will consist of a large living room, a guest room, a personal refrigerator, a dining room, a kitchen yard, a common bathroom as well as a terrace and an upper lounge. There will also be a carport. The upper floor will consist of three bedrooms including an en-suite master bedroom having a balcony. Each bedroom has an independent bathtub and toilet.
The villas are of executive type and will have sufficient space to provide comfort and accommodation benefiting a well to do family.
The phase one project is expected to be completed within 20 months if everything is in place especially timely supply of construction materials by the Client.

Kuhusu data zako za lot (plot) size si 320sqm! Each executive villa is standing on a medium/low density plot measuring between 1000sqm to 1500. Na kwa town house moja lot size ni 440sqm. Total built up areas for each villa is btwn 436sqm to 440sqm while town house ni 328sqm.

Bei kwa wateja wa mwanzo ni USD 450,000 per each executive villa na 330,000 per each town houses. these are subject to change without prior notice.

Kuhusu methods of valuation (na si Evaluation as most of people pronounse it) there are more than one method, it can be comparison approach by comparing the recent sales in the neighbourhood, income (investment) approach for income generating properties, cost approach basing on cost of construction, and residual method for a bare land (undeveloped land)

Kwa properties ambazo kodi zake ziko juu japo ni residential still we can use income approach like the peninsula properties in Dar.

 

[Njilembera]

Thanks for very informative response! Yes there is a difference between Valuation and Evaluation( I bet you are a valuer). Our diaspora should pick up a leaf on your story. Over the last (again four years0 there has been a steady increase in demand for large tracts of land by prospective real estate investors. Already in Kigamboni we have Mutual Estate Developers(slgihtly comparing with IPI Ltd), of course Ladwa along Old Bagamoyo Road estates and those other estates in Kinondoni Mwadu Lane(as you drive past the cemetery towards Salander bridge. Yes, what we are trying is simply painting the picture of what is happening.

I share the views that perhaps this is the boom ad the burst is round the corner. But we need to reflet back. In 1990s( and I can be more specific 1994) office space in DAR was letting at betwen $25-30per sqm, the highest in Africa( including Cape Town) and in several major cities around the globe, this was attributed to high demand. The current high prices for quality housing( I mean rent levels) are also reflecting shortages( sellers markt). Some of contributors to this forum have castigated those charging high values/prices, but these ar the truths and better grasp the opportunity while you can ( vunja mfupa ungali na meno). In Mikocheni plus all the dirt and flooed streets, house lease in the ups of $3,000 pm and ashamedly big guys part with up to $5,000!

But the idea of limiting the size of the city by infilling rather than extending horizotally to as far as Bunju is not a new idea. But dare you raise it with the Ministry of Lands, they will slice your throat. Three Professors had rough time with the Ministry on this some 5 years back. The standard plot sizes in Tanzania are probably the highest worldwide. The smallest is 220sq.m and that was in Sinza and no longer being planed for. But you know the plot sizes in KARIAKOO and the type of structures that are possible o those plots. Too many things happening, but msikae tu mnatupa lawama, ukiwa na uchungu wa nchi yako, take the lead and if you can take up the land, it will remain owned by Tzanians, and not foreigners - wachina are buying left and right and I just do not know how they are able to manoevre the system and register the acquired lands in their names,

 

[Zakumi]

Thanks for very informative response! Yes there is a difference between Valuation and Evaluation( I bet you are a valuer). Our diaspora should pick up a leaf on your story. Over the last (again four years0 there has been a steady increase in demand for large tracts of land by prospective real estate investors. Already in Kigamboni we have Mutual Estate Developers(slgihtly comparing with IPI Ltd), of course Ladwa along Old Bagamoyo Road estates and those other estates in Kinondoni Mwadu Lane(as you drive past the cemetery towards Salander bridge. Yes, what we are trying is simply painting the picture of what is happening.

I share the views that perhaps this is the boom ad the burst is round the corner. But we need to reflet back. In 1990s( and I can be more specific 1994) office space in DAR was letting at betwen $25-30per sqm, the highest in Africa( including Cape Town) and in several major cities around the globe, this was attributed to high demand. The current high prices for quality housing( I mean rent levels) are also reflecting shortages( sellers markt). Some of contributors to this forum have castigated those charging high values/prices, but these ar the truths and better grasp the opportunity while you can ( vunja mfupa ungali na meno). In Mikocheni plus all the dirt and flooed streets, house lease in the ups of $3,000 pm and ashamedly big guys part with up to $5,000!

But the idea of limiting the size of the city by infilling rather than extending horizotally to as far as Bunju is not a new idea. But dare you raise it with the Ministry of Lands, they will slice your throat. Three Professors had rough time with the Ministry on this some 5 years back. The standard plot sizes in Tanzania are probably the highest worldwide. The smallest is 220sq.m and that was in Sinza and no longer being planed for. But you know the plot sizes in KARIAKOO and the type of structures that are possible o those plots. Too many things happening, but msikae tu mnatupa lawama, ukiwa na uchungu wa nchi yako, take the lead and if you can take up the land, it will remain owned by Tzanians, and not foreigners - wachina are buying left and right and I just do not know how they are able to manoevre the system and register the acquired lands in their names,

Njilembera:

Kuna report iliyopotolewa na professor wa chuo cha ardhi inayosema kuwa Nairobi ina skwata kubwa lakini Skwata yake ni 5% ya jiji hilo.

Kwa upande mwingine DSM ina viskwata vidogo vidogo lakini viskwata hivyo ni zaidi ya 70%.

Uwezekano mkubwa ni kuwa watanzania imeendekeza skwata. Na sehemu nzuri ni chache na zenye bei. Hiyo Phenomena ya kupanda kwa bei unatokana vichwa vilivyojaa maji.

Hivyo mkiona ofisi za mashirika au mabalozi zinahamia Nairobi kwanini tunapiga kelele? Watu hawaji DSM kukaa, hivyo zinapoongezeka cost za nyumba ambazo ni kubwa katika cost za matumizi watu wanaanza.

 

[Game Theory]

hivi mnajua the most expensive area in TANZANIA?

very simple...KARIAKOO ambako nyumba zinauzwa at 1 BILLION SHILLINGS na yes wapemba wananunua na wanateremsha migorofa kama mnavyoiona...bila kusahau kuwa rent ya milango pale ni 1 million per month

 

[Game Theory]

UTAFITI WANGU KUHUSU MRADI WA BAHARI BEACH TOWN NI HUU HAPA:-
The company is Integrated Property Investments (T) Ltd (IPITL). IPITL is a property Development and Investments Company Registered in Tanzania, associated with its namesake in the UK, Integrated Property Investments Limited, (IPIL) through common ownership. However, the two organizations do not form a group.

Up to now, IPITL has acquired about 200acres land in the Bahari Beach area of Ununio in Dar es Salaam for developments of Self sustained, independent state of the Art satelite City comprising of Villas, Town houses, apartments, retail units, community centre and all amenities required in a self sustaining town, thus the deserved naming.

Website yao hawajai-update kwa vitu vingi kuna mabadiliko mengi especially after acquiring more additional lands. The phases of construction have also changed to some extent as oppossed to what is seen in their website. Nafikiri watabadilisha soon as ujenzi ndo umeanza rasmi.

There will therefore be state of the art shopping mall, offices, a hospital, international standard hotel, restaurants, schools and police station, not to mention the modern recreational centres and a ferry service that will link the rich, sandy Bahari beach to the main Dar es Salaam port on the one hand and the exotic Zanzibar islands on the other.

Bahari Beach Town is designed to become a self-contained satellite city providing family-friendly environment for a potential resident population of 6’000 people, while its commercial units could serve additional 500’000 people within easy commuting area.

BAHARI BEACH PHASE 1
The phase one project on plots 2, 3 and 5 on 50 acre land has started with construction of show homes villa and town house now on foundation stages. This phase will have 71 units of executive villas and 43 units of town house, making the total units in phase one to be 114 as shown in the attached layout plan. The land has also been filled up at a required level and roads in the estate are being graded for tarmac roads construction.

TOWN HOUSES
This immaculately double storey home set in a tranquil location will have one bedroom, a kitchen, dining room, a big living room as well as a common toilet on the ground floor. On the upper floor, there will be three bedrooms including an en-suite master bedroom with a balcony. There will also be a shared bathroom for the two bedrooms next to the master en suite.

Perfectly positioned for superior lifestyle and pleasure! At Bahari Beach, you will be treated to the therapeutic and soothing views of beautiful gardens, whispering palms, and lush greeenery.
The way I see it, it is the first in Dar es Salaam in terms of the magnitude of a gated community complex providing a safe, classy, lock-up and go environment. People will enjoy the spectacular view of the indian ocean from your luxurious residence.


VILLAS
Each typical villa will consist of a large living room, a guest room, a personal refrigerator, a dining room, a kitchen yard, a common bathroom as well as a terrace and an upper lounge. There will also be a carport. The upper floor will consist of three bedrooms including an en-suite master bedroom having a balcony. Each bedroom has an independent bathtub and toilet.
The villas are of executive type and will have sufficient space to provide comfort and accommodation benefiting a well to do family.
The phase one project is expected to be completed within 20 months if everything is in place especially timely supply of construction materials by the Client.

Kuhusu data zako za lot (plot) size si 320sqm! Each executive villa is standing on a medium/low density plot measuring between 1000sqm to 1500. Na kwa town house moja lot size ni 440sqm. Total built up areas for each villa is btwn 436sqm to 440sqm while town house ni 328sqm.

Bei kwa wateja wa mwanzo ni USD 450,000 per each executive villa na 330,000 per each town houses. these are subject to change without prior notice.

Kuhusu methods of valuation (na si Evaluation as most of people pronounse it) there are more than one method, it can be comparison approach by comparing the recent sales in the neighbourhood, income (investment) approach for income generating properties, cost approach basing on cost of construction, and residual method for a bare land (undeveloped land)

Kwa properties ambazo kodi zake ziko juu japo ni residential still we can use income approach like the peninsula properties in Dar.

Quite right lakini nimeona bora nikupe updates zingine

Hii project imegota kwa sababu bosi wa MRADIyaani yule Msomali na wale private investors alioingia nao kwenye mkataba wamekumbwa na pepo ya GLOBAL DOWNTURN na najua jamaa wa BARCLAYS na CITY walikuwa tayari kuingiza pesa kwenye hii project lakini wameamua kunyuti kidogo....yaani kama ambavyo EMAAR walivyochemsha kule DUBAI

 

[Katikomile]

Quite right lakini nimeona bora nikupe updates zingine

Hii project imegota kwa sababu bosi wa MRADIyaani yule Msomali na wale private investors alioingia nao kwenye mkataba wamekumbwa na pepo ya GLOBAL DOWNTURN na najua jamaa wa BARCLAYS na CITY walikuwa tayari kuingiza pesa kwenye hii project lakini wameamua kunyuti kidogo....yaani kama ambavyo EMAAR walivyochemsha kule DUBAI

GT,
Si kweli kwamba GLOBAL DOWNTURN imemuathiri every Investor as people have been generalising it.

Integrated Property Investment (T) is mainly financed by IPI, UK na ujenzi unaendelea kwa kasi ya ajabu ukisimamiwa na WEBB URONU kama Project managers, COWI Consulting Engineer kama Prject Engineers na Inhouse Project Consultants kama Projects Architects. Contractors ni MCC Hainan toka China, na wachina wamepiga kambi site kwani wameamishia makazi yao hapo.

Nyumba zinanunuliwa kwa kasi ya ajabu, and since they are doing pre-sale, this is also part of financing ther project.

Katika benki walizoziapproach kwa financing, Barclays na City hazipo mkuu, ni Stanbic, ABC na CBA na bado wana-negotiate.

About two weeks ago the company shareholders had their annual meeting and none of the shareholder kajitoa.

Usijaribu kupotosha umma GT, these people have money and they have invested a lot in the UK and they are now shifting theirr fund to TZ.

Tusipende kuandikia mate na wino upo, umetembelea hiyo site yao kule Ununio Bahari Beach hivi karibuni??

 

[Ether]

GT,
Si kweli kwamba GLOBAL DOWNTURN imemuathiri every Investor as people have been generalising it.

Integrated Property Investment (T) is mainly financed by IPI, UK na ujenzi unaendelea kwa kasi ya ajabu ukisimamiwa na WEBB URONU kama Project managers, COWI Consulting Engineer kama Prject Engineers na Inhouse Project Consultants kama Projects Architects. Contractors ni MCC Hainan toka China, na wachina wamepiga kambi site kwani wameamishia makazi yao hapo.

Nyumba zinanunuliwa kwa kasi ya ajabu, and since they are doing pre-sale, this is also part of financing ther project.

Katika benki walizoziapproach kwa financing, Barclays na City hazipo mkuu, ni Stanbic, ABC na CBA na bado wana-negotiate.

About two weeks ago the company shareholders had their annual meeting and none of the shareholder kajitoa.

Usijaribu kupotosha umma GT, these people have money and they have invested a lot in the UK and they are now shifting theirr fund to TZ.

Tusipende kuandikia mate na wino upo, umetembelea hiyo site yao kule Ununio Bahari Beach hivi karibuni??

mjasiriamalishupavu......... naomba unisaidie with these few questions:
- what other projects have IPI done so far? where can i see the said projects manake sijaona any of the examples in their website?
- since when have yu seen or heard an investor invest his/her own money in the project. FYI, the rule of the real estate investment is using other people's money to invest in ur own project. so do IPI invest their own money in all of their international real estate projects?
- what projects that yu know of in UK that have been funded and build by IPI?
- unasema nyumba zinanunuliwa kwa kasi..... je where can i get the info substanciatin this claim? usually this info is supposed to be open to the public. how many units have been pre-sold already?

 

[Katikomile]

mjasiriamalishupavu......... naomba unisaidie with these few questions:
- what other projects have IPI done so far? where can i see the said projects manake sijaona any of the examples in their website?- since when have yu seen or heard an investor invest his/her own money in the project. FYI, the rule of the real estate investment is using other people's money to invest in ur own project. so do IPI invest their own money in all of their international real estate projects?
- what projects that yu know of in UK that have been funded and build by IPI?- unasema nyumba zinanunuliwa kwa kasi..... je where can i get the info substanciatin this claim? usually this info is supposed to be open to the public. how many units have been pre-sold already?

Ether,

Which website did you visit anyway? Please visit here IPI Ltd : Property Investments

Real estate investment financing can be Joint venture (JV), Build Operate and Transfer (BOT), Pre Sale Financing by buyers 100% or partly, Mortgage financing, Developers financing e.t.c

After interviewing these people nikagundua kwamba si kweli kwamba they use people's money to build the houses, you can even wait when the house is completed, but je utaikuta hiyo nyumba??? People do not want to loose the house that's why even IPI are doing pre-sale sa it has been done in Dubai, Kenya, UK e.t.c. Hujaona Kariakoo unajenga ghorofa na watu wanalipia kodi ya mwaka fasta, ukichelewa unabaki kusema HAD I KNOWN, I WOULD HAVE........and NO SOONER HAVE YOU REALISED THAN THE HOUSE IS TAKEN.

You may say they are using people's money by doing pre-sale, but these people are putting up a five star hotel, shopping mall, ferry terminal, recreational centre, school, hospital, police station and gas station/petrol station in the compound. Will all these be pre-financed by home buyers??? Just be realistic ETHER!!!!


Nevertheless, there are a lot of acquisition costs involved in construction including purchase of land, transfer costs, site clearance, reclaming the land, professional fees and other associated cost before actually commencing the sales. Now, are all these pre-financed by those would be home buyers.

You said where you can get IPI in Tanzania, they are at Integrated Property Investment (T) Limited, Bahari Beach Area, Plot No. 27,P.oBox 33007 Tel +255 2650705/6 Fax: +255 2650707, Email info@ipitz.com, Dar es Salaam, Tanzania

 

[PanguPakavu Amy]

Mjasiriamali..,

hawa jamaa wamekutuma?!

never mind..,i have been touched by your ability to take their beatings all the time.

that lead to my old time curosity..,who are these guys anyway?!
here is what i found.

Name & Registered Office:
INTEGRATED PROPERTY INVESTMENTS LTD.
BARNARDS INN
86 FETTER LANE
LONDON
EC4A 1AD
Company No. 04521565


Status: Active
Date of Incorporation: 29/08/2002

Country of Origin: United Kingdom
Company Type: Private Limited Company
Nature of Business (SIC(03)):
7011 - Development & sell real estate
7032 - Manage real estate, fee or contract
Accounting Reference Date: 31/12
Last Accounts Made Up To: 31/12/2007 (SMALL)
Next Accounts Due: 31/10/2009
Last Return Made Up To: 29/08/2008
Next Return Due: 26/09/2009
Last Members List: 29/08/2008
Previous Names:
Date of change Previous Name
20/07/2005 BEACON (IPIL) LTD.
31/10/2002 DUALEH & COMPANY LIMITED

that is from a UK bot,that takes care of registered companies information.

"here is a few things i got from the information:-
1.their physical address on their website(under-contact us section) is different from the one registered.i hope this is just a mistype rather than a scam in the making.
2.the company had changed it's name twice from dualeh & co to beacon to the current name,looking deep in those two previous company names,one can find almost nothing of their effective existence in UK.why?
later i will post information of those companies and they were ALL very ambiguous companies!!
3.they don't happen to have VAT associated with them,and their tax record is almost untraceable!!
4.their website indicate that the Managing director is Mr. Suleiman A. Dualeh,Dualeh happens to be the name of one of the former names of the current company.
5.UNLESS it was a HUGE mistake!that company so called MCC Hainan does not exist in CHINA!is it a fake company?!if so,how ill it insure the quality of the properties?!how was it allowed to operate in Tanzania?!
6.the said Mr.Dualeh and Chairman Mr.Omari are self proclaiming financier and accountants with lots of experience.i have looked into their CV's on their own website and it is rather pathetic.
-Fonts are all different every two paragraphs like a twelve year old essay homework!
-there are so many unanswered questions surrounding them,especially about their finances,and the nature of their Business.Most properties they claim to own,do not have clear backing data for that.

i think it is important these people start to post their credit information and balance sheets,because that will help prevent scams. or ponzi schemes of some kinds.

 

[PanguPakavu Amy]

here are informations of this company under the old name
Beacon (IPIL) LTD

Name & Registered Office:
BEACON (IPIL) LTD.
BARNARDS INN
86 FETTER LANE
LONDON
EC4A 1AD
Company No. 04486223


Status: Active
Date of Incorporation: 15/07/2002

Country of Origin: United Kingdom
Company Type: Private Limited Company
Nature of Business (SIC(03)):
7032 - Manage real estate, fee or contract
Accounting Reference Date: 31/12
Last Accounts Made Up To: 31/12/2007 (SMALL)
Next Accounts Due: 31/10/2009
Last Return Made Up To: 15/07/2008
Next Return Due: 12/08/2009
Last Members List: 15/07/2008
Previous Names:
Date of change Previous Name
24/07/2002 PEACON PROPERTIES LIMITED
20/07/2005 INTEGRATED PROPERTY INVESTMENTS LTD.
Branch Details
There are no branches associated with this company.
Oversea Company Info
There are no Oversea Details associated with this company.

same old story

 

[Kapinga]

Bahari Beach Project Main Page

 

[Kapinga]

wengine tunaplan kurudi nyumbani real soon lakini embu oneni hizi properties ..clearly they are not aimed at the average tanzanian..
WHITEKNIGHTS

 

[Zakumi]

wengine tunaplan kurudi nyumbani real soon lakini embu oneni hizi properties ..clearly they are not aimed at the average tanzanian..
WHITEKNIGHTS

Average Tanzania anakufa akiwa na wastani wa miaka 45. Kwanini apoteza pesa hizo wakati maisha yake ni mafupi?

 

[Ether]

Ether,

Which website did you visit anyway? Please visit here IPI Ltd : Property Investments

mazee naona we ndo spokeman wa hawa wasomali au? Ok lets get back to haya malumbano. from the said website ulioionyesha hapo juu none of those projects were developed by IPI Ltd. please do show me which of the said projects are/were developed by IPI Ltd.

Real estate investment financing can be Joint venture (JV), Build Operate and Transfer (BOT), Pre Sale Financing by buyers 100% or partly, Mortgage financing, Developers financing e.t.c

i know how these deals are structured. so how is IPI Ltd deal structured? is it joint venture if so with who?

After interviewing these people nikagundua kwamba si kweli kwamba they use people's money to build the houses, you can even wait when the house is completed, but je utaikuta hiyo nyumba??? People do not want to loose the house that's why even IPI are doing pre-sale sa it has been done in Dubai, Kenya, UK e.t.c. Hujaona Kariakoo unajenga ghorofa na watu wanalipia kodi ya mwaka fasta, ukichelewa unabaki kusema HAD I KNOWN, I WOULD HAVE........and NO SOONER HAVE YOU REALISED THAN THE HOUSE IS TAKEN.

on your interview with them (as an investor i hope) did yu happen to ask em for the financial reports to prove what yu are sayin above? did they provide yu with the pre-development, financial analysis or investment summary of the said project?

You may say they are using people's money by doing pre-sale, but these people are putting up a five star hotel, shopping mall, ferry terminal, recreational centre, school, hospital, police station and gas station/petrol station in the compound. Will all these be pre-financed by home buyers??? Just be realistic ETHER!!!!

please where did yu get this info from? please since yu are the said spokesman wao provide us with their comparable projects they have done b4 of this magnitude?

Nevertheless, there are a lot of acquisition costs involved in construction including purchase of land, transfer costs, site clearance, reclaming the land, professional fees and other associated cost before actually commencing the sales. Now, are all these pre-financed by those would be home buyers.

in short what yu have mentioned above is called Pre- Development Costs. what bank is financing the project?

 

[Kapinga]

wanajf wenye know how in real estate naona hii thread isife...its more useful than most of you think!! some of us are desperately looking for properties to rent within the 200-400usd per month range..but zisiwe uswazi!!

 

[Katikomile]

mazee naona we ndo spokeman wa hawa wasomali au? Ok lets get back to haya malumbano. from the said website ulioionyesha hapo juu none of those projects were developed by IPI Ltd. please do show me which of the said projects are/were developed by IPI Ltd.

Nimekuonyesha link uone properties developed by IPI in the UK, still you insist me to show you???????? marvelous!!!!!!!!!!!

 

[Katikomile]

please where did yu get this info from? [/COLOR]please since yu are the said spokesman wao provide us with their comparable projects they have done b4 of this magnitude?[/SIZE][/FONT]



In their bronchure mzee and also in their site layout plan.