New Authority to Regulate Real Estate Operations in Tanzania
By Florence Mugarula
The Deputy Minister for Lands, Housing and Human Settlement Development, Ms Angelina Mabula, said yesterday that the government is looking forward to establish an authority that will oversee and regulate all operations in the real estate sector.
Ms Mabula said the authority is set to be established after the enactment of the Real Estate Development Act. She also said that the government is in the process of establishing a law that aims at regulating the sector in a fair and professional manner.
The Deputy Minister was speaking during a ceremony to launch Tanzania Real Estate Developers Association (TREDA). She said the body will regulate, supervise and register all construction projects, selling of buildings and maintain good relationship between tenants and landlords. For a long time now, the real estate business has been operating with no proper supervision from the government.