Tanzanian real estate company Mkuyu Africa has signed a partnership agreement with Dubai-based developer DAMAC Properties to enable residents to purchase residential properties in the United Arab Emirates. The deal creates a channel for businesspeople, employees and other Tanzanians to invest in international real estate without travelling to Dubai during early stages of the buying process.
Mkuyu Africa Chief Executive Officer Juneid Othman said the company would act as an intermediary between Tanzanian buyers and DAMAC Properties, presenting available projects, guiding purchasers through procedures and handling transaction completion. He explained that buyers could start with an initial payment of five per cent of a property's value, with the remainder payable according to agreed schedules until handover with legal ownership documents in Dubai. Othman described the move as reversing the typical pattern, where foreign investors come to Tanzania. 'Through this partnership between Mkuyu Africa and DAMAC, Tanzanians can now also own homes and apartments in Dubai while still in Tanzania,' he said.
Othman said the initiative aimed to broaden Tanzanian participation in international investment, particularly real estate, which he identified as offering wealth creation, property appreciation and additional income potential. To enhance the experience, Mkuyu Africa and DAMAC have arranged buyer trips to Dubai for project visits, property inspections and handover participation in line with purchase agreements.
DAMAC Properties Sales Manager and Investment Adviser Farah Al Hashimy said the developer was among Dubai's leading property developers with a portfolio including Chelsea Residences. She stated the partnership would give Tanzanians greater access to DAMAC project information and services while strengthening ties between the companies. The arrangement is also expected to benefit Dubai investors seeking opportunities in Tanzania through Mkuyu Africa.
The partnership reflects broader efforts to strengthen economic and commercial ties between Tanzania and international markets, aligning with the Government's aim to position the country as an attractive destination for foreign capital and international investment.