THE government has said that the newly launched housing projects are set to transformation in the real estate industry in the country.

Dr Upendo Matotola, the Director for Real Estate at the Ministry of Lands, Housing and Human Settlements Development said this in Dar es Salaam over the weekend, when speaking at the launch of the Phoenix Condos housing project.

Dr  Matotola lauded TT Investments for initiating the project and REMAX Coastal Reality who are marketing the development. 

“Our commitment to these principles is unwavering, and we take great pride in fostering an environment where the real estate industry can thrive,” she said.

“The main objective of their unit is to regulate, coordinate, and promote the real estate sector and strive to ensure a stable and transparent real estate market, protect the interests of all players involved, and enhance government revenue," she added.

She further noted that Phoenix Condos is more than just a collection of luxury homes as it symbolizes a new standard of excellence in Dar es Salaam.

“The project's design, location, and amenities all contribute to a superior living experience, reflecting the high standards we promote within the industry,” she said

According to her, the involvement of the REMAX brand in the project has been instrumental in ensuring transparency and integrity in the real estate sector adding that it has provided buyers and investors with a sense of comfort and confidence in their transactions, knowing that they are dealing with a reputable and trustworthy entity.

Yongjun Liu, TT investment director said what makes new housing projects special wasn't just design, but the promise of a better lifestyle. 

 “While they're priced for quality, I believe the project offers the best value as they feature spacious layouts and modern facilities, all designed to the highest standards,” he noted.

Liu said that apart from a new housing project, they also have other developments such as Mwenge Tower, the Tanzanite Tower along Sam Nujoma road on the way to Mlimani City, Tanzanite Park Office building in Victoria, Tanzanite Serviced Apartments, Phoenix City 102 apartments in Oyster Bay, and several upcoming projects.

Happiness Watimanywa, REMAX Coastal Reality managing broker said they were proud to present the new housing and were confident that the development will set a new standard for luxury living in Dar es Salaam.

“Developments of housing projects similar to this are powerful economic engines that drive growth and development,” she said and added that Investment in real estate bolstered the construction and development sectors, igniting ancillary industries and creating a ripple effect that fuels economic expansion.

The event was attended by various dignitaries and stakeholders within the housing sector, underscoring a major commitment to providing high-quality, accessible living solutions and transforming the real estate industry.