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Key Contacts

Africa Valuations

Dar es Salaam | Tanzania

Dar es Salaam is an emerging trade hub for East Africa, and has the second largest port in the region after Mombasa, Kenya.

Market highlights

  • Tanzania is poised to become a major gas producer, following recent discoveries of huge offshore natural gas fields.
  • Trade is expected to benefit from Chinese-backed plans to construct a new US$10 billion port north of the city at Bagamoyo.
  • Increasing demand for office space has helped to maintain stable prime rents, despite new projects coming to the market.
  • Recently completed high-rise buildings in the CBD include the PSPF Towers and the Tanzania Ports Authority HQ.
  • The retail property sector is relatively undersupplied, but new developments are ongoing, particularly in prime residential areas.

 

Property market data

 

Prime rents

Prime yields

Office

US$ 21/ sq m/ month

9%

Retail

US$ 16/ sq m/ month

10%

Industrial

US$ 6/ sq m/ month

10%

Residential
(4 bed exclusive house)

US$ 4,500/ month

6%

 

Market statistics & forecasts

Tanzania population - 53 million

Tanzania population forecast, 2025 - 72 million

Dar es Salaam population - 5.1 million

Dar es Salaam population forecast, 2025 - 8.6 million

Tanzania GDP growth, 2016 - 7.2%

Tanzania GDP growth forecast, 2017 - 7.2%

Tanzania GDP (PPP) per capita, 2016 - US$ 3,097

Tanzania urbanisation rate - 32%