Capital Properties

Region

East Africa

Country

Tanzania

Sector

Real Estate

Deal type

Office development

Investment date

2005

Exit date

2013

Status date

Realised

Open for business

Dar es Salaam – the business and trade hub of Tanzania – is growing. As multinational corporations establish themselves and local companies expand, the demand for quality office space is rising. This led Capital Properties to build three office blocks on a prime site on one of the main arterial roads running through the city’s business district. Actis acquired the development in 2007.

In 2008, Actis kicked-off a redevelopment project to create an additional 9,700 square metres of office space and 1,000 square metres of retail space. New design features including energy vapour barriers, wall and roof insulation, double-glazing and sun louvres were incorporated to reduce energy consumption. All these features were innovative in the local market.

The new space was fully occupied and is seen as the best quality commercial building in Dar es Salaam. A seven storey car park helped alleviate the parking shortage experienced in the city.

In March 2013, Actis sold Capital Properties to Sanlam. Actis is proud to have created a quality asset with international standards of design, construction, energy consumption and parking, which raised the bar for real estate development in Tanzania.