By Business Insider Reporter
The National Housing Corporation (NHC) has posted significant achievements over the past five years, positioning itself as a key driver of Tanzania’s urban transformation and housing development agenda.
Under the Sixth Phase Government, the corporation has expanded its footprint through strategic real estate investments, efficient project management, and renewed public-private partnerships.
NHC Directior General, Hamad Abdallah Hamad, told editors in Dar es Salaam today June 16, 2025 that between 2019/20 and 2023/24, NHC’s revenue rose from TSh 125 billion to TSh 189 billion – an impressive 34% growth. Simultaneously, he said, the corporation recorded a cumulative pre-tax profit of TSh 235.4 billion, with TSh 36.8 billion achieved in the most recent financial year alone, according to reports verified by the Controller and Auditor General (CAG).
The value of NHC assets also increased significantly to TSh 5.5 trillion by June 2024, according to Mr Hamad.
The corporation’s contribution to government coffers has equally grown, with TSh 134.4 billion paid in taxes over five years, alongside TSh 9.85 billion in dividends.
For the 2024/25 financial year, NHC paid a record dividend of TSh 5.5 billion, earning it presidential recognition as one of the best-performing state-owned enterprises.
In terms of construction, NHC has built 5,399 housing units worth TSh 659.5 billion for sale and rent.
Of these, Mr. Hamad said, 3,217 units have been completed, while 2,182 are in various stages of development.
Notable projects include the Morocco Square, which was recently completed after years of delay, and the Kawe 711 and Golden Premier Residence projects, both now back in motion thanks to government-backed financing.
Moreover, the corporation has successfully undertaken 67 public works contracts valued at TSh 458.2 billion.
These include strategic national projects such as the Tanzanite International Mineral Market in Mirerani, the JKCI Cardiac Unit in Dar es Salaam and ministry office complexes in Dodoma.
In collaboration with private partners, NHC has also launched 21 joint venture projects worth TSh 351 billion, enhancing the availability of commercial and residential spaces across the country.
NHC’s achievements have not gone unnoticed. The corporation has received numerous local and international accolades, including the Best Public Housing Developer in East Africa and commendations for its financial reporting standards.
With its “Samia Housing Scheme” aimed at delivering 5,000 affordable housing units, and a proposed “Nyumba Bond” to raise capital through public investment, NHC is poised to play an even greater role in meeting Tanzania’s growing housing needs.
NHC is preparing to launch an ambitious capital mobilisation initiative through the establishment of the Nyumba Bond.
This innovative housing bond is intended to raise funds from the public, enabling Tanzanians of all income levels to invest directly in housing development.
According to the NHC Director General, the bond will be a key tool in accelerating affordable housing delivery across the country while offering attractive returns to investors.
The Nyumba Bond will serve as a pioneering model in East Africa, enabling ordinary citizens, pension funds, insurance companies, and institutional investors to contribute to the national housing agenda.
By channelling public investment into large-scale real estate projects, NHC aims to bridge the persistent housing deficit and stimulate inclusive economic growth.
NHC has already initiated consultations with regulatory authorities, financial advisers, and key stakeholders to finalise the bond structure.
Emphasis will be placed on transparency, investor protection, and alignment with Tanzania’s long-term development goals.
The proceeds from the bond are expected to fund projects like the Samia Housing Scheme, satellite city developments, and completion of strategic buildings in urban centres.
Once operational, the Nyumba Bond will not only increase the corporation’s capital base but also enhance public participation in infrastructure development.
“This initiative will transform how we finance housing in Tanzania,” said the Director General. “It is about turning every Tanzanian into a stakeholder in the future of our cities.” After approval of the NHC Board, the launch of the seven years Bond is slated for next year.
