Mara Group signs $300 million investment in Tanzania Real Estate

The Ministry of Home Affairs of Tanzania and Mara Capital, part of the Mara Group, has signed a Pre-Development Agreement for a new landmark project to develop a state of the art, urban, commercial hub of approximately 3.5 million square foot.

The project will include the largest retail mall in East Africa, two internationally branded hotels, a convention centre, a medical tourism hospital, a business park, a residential compound, a police station, and 300 residential units dedicated for the Police in Oysterbay in Dar es Salaam.

The contract was signed as part of an official signing ceremony, at Police Headquarters by the Permanent Secretary of the Ministry of Home Affairs Mr. Mbarak Abdulwakil, the Inspector General of Police, Mr. Saidi Ally Mwema, and the Directors of Mara Group, Mr. Ashish J. Thakkar and Mr. Prashant Manek.

Mr. Manek commented that, “the transformational project will offer Tanzanians a modern environment to ‘live, work and play’ and considerably elevate the profile of Dar Es Salaam and Tanzania to the rest of the world.”

“We are excited to have partnered with Government of Tanzania and look forward to changing the landscape of this beautiful city – Dar es Salaam with this landmark project – Mara World Tanzania. It will be a first of its kind in the region” said Ashish J. Thakkar.

Mara Group is a 15 year-old pan-African multi-sector business conglomerate with current operations covering IT, BPO, real estate development, asset management, infrastructure, hospitality, packaging, and media. The Group has a presence in 18 African countries and employs over 4,000 people.