THE National Housing Corporation (NHC) plans to tap into capital markets with a seven-year bond on the Dar es Salaam Stock Exchange (DSE).

Hamadi Abdallah Hamad, the NHC director general, shared these plans with journalists in Dar es Salaam yesterday, following site visits at key NHC projects, including the Samia Housing Scheme (SHS) at Magomeni, the 711 project in Kinondoni, and the Kawe high rise residential complex, the latter project having remained dormant for eight years.

As part of this innovative approach, NHC seeks to mobilize substantial funds specifically for the timely completion of strategic housing projects nationwide, he said, noting that the successful delivery of projects under the crucial Samia Housing Scheme by 2030 is a priority.

Highlighting the urgency and national importance of the scheme, he said NHC was actively acquiring land at affordable prices, a proactive measure designed to directly support and facilitate the construction of low-cost housing units.

It is further expanding access to decent and affordable shelter for a wider segment of the population, in the wake of its remarkable growth and forward-looking strategies positioning it as a key player in addressing housing needs and contributing to national economic development.

NHC has posted remarkable financial growth over the past five years, with its revenue soaring by 33.1 percent from 125bn/- in 2019 to 189bn/- in 2024, he said, noting NHC’s burgeoning influence and strategic positioning in the country’s dynamic real estate landscape.

“This consistent upward trajectory directly reflects NHC’s astute strategic investments, enhanced property management efficiencies, and its steadfast commitment to expanding access to affordable housing across the country.

‘As a tangible result of this financial health, the dividend paid to the government witnessed a tenfold increase, surging from 550m/- in 2019 to 5.5bn/- in 2024,” he further stated.

A total of 235.4bn/- in revenue was collected over the past five years, an overall revenue increase at 33.1 percent, where the July 2023 to June 2024 period saw NHC collect 36.8bn/- in rent, he said.

It was a remarkable 112.5 percent attainment of its annual target, he said, confident that NHC's target of collecting 10bn/- in the coming financial year is achievable.

NHC’s total asset value has significantly appreciated, rising from 5.08trn/- to 5.6trn/- during the period, reflecting robust growth in asset value, with sustained expansion and investment expected in the coming financial year, he added