The Government of the United Republic of Tanzania, through the Tanzania Investment Centre (TIC), has announced a re-advertisement inviting potential investors to submit concept notes for the development and operation of a commercial building and tourism investment opportunity at Kimandolu in Arusha.
Situated approximately 5 kilometers from Arusha City center, Kimandolu offers prime real estate along the Old Moshi Road, making it an ideal location for tourism and commercial development. With favorable climatic conditions and a growing demand for commercial infrastructure and tourism facilities, Arusha City is poised to meet the increasing need for tourist accommodations, residential apartments, and office spaces in the Northern tourist/commercial circuit.
Under Tanzania's strategic development plan, commercial developers have the opportunity to benefit from complementary investments in infrastructure and the tourism sector by private investors.The land allocation process for the Kimandolu investment site will adhere to the Tanzania Investment Centre's approved land allocation manual. TIC is now inviting concept notes from investors and developers interested in investing in commercial building and tourism ventures at the Kimandolu site.
The available investment site, Plot No. 144/2/1 Block "GG," spans 47,324 square meters and presents a lucrative opportunity for prospective investors.
The preliminary evaluation criteria for concept notes include the quality of the proposed project, alignment with national priorities such as Vision 2025 and the 5-year development plan, value for money in terms of benefits to TIC, the surrounding community, and the government, financial capacity of the investor, track record in similar projects, and project development plan, timelines, and proposed land lease period.
Preferred developers who meet the evaluation criteria will be considered within TIC's land bank allocation procedures and guidelines. Applicants who previously submitted proposals are required to resubmit their applications in line with the new requirements.
The deadline for concept note submission is Thursday, 20th June 2024, at 02:00 PM (EAT). Hard copies of the proposals should be submitted to the Executive Director, Tanzania Investment Centre (Head Office), located at Golden Jubilee Tower, 1st Floor, Ohio Street, P.O. Box 938, Dar es Salaam, Tanzania.