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World Bank values Dar’s real estate Sh273bn more than Nairobi

Aerial view of Nairobi (left) and Dar es Salaam: A World Bank report estimates the economic value of Dar’s real estate at Sh1.2 trillion ($12 billion) ahead of Nairobi’s Sh927 billion ($9 billion) – a Sh273 billion gap. PHOTOS | FILE

Tanzanian capital Dar es Salaam’s real estate has been ranked ahead of Nairobi and Addis Ababa in the World Bank’s latest cities report, which cites land fragmentation and weak property rights as the sector’s biggest impediments in Africa.

The report, which was released yesterday, estimates the economic value of Dar’s real estate at Sh1.2 trillion ($12 billion) ahead of Nairobi’s Sh927 billion ($9 billion) – a Sh273 billion gap.

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