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SUBSIDIARY NAME

BURKA CITY-ARUSHA

COUNTRY

TANZANIA

SECTOR/ INDUSTRY

REAL ESTATE

OWNERSHIP %

70% IIB-DG

ACQUISITION DATE

May 25, 2022

ACQUISITION VALUATION

250 MILLION

TOTAL ASSET VALUATION

2.25 BILLION

REAL ESTATE

BURKA CITY-ARUSHA project by RF REAL ESTATE LIMITED acquired on May 25, 2022. Burka City is a proposed mixed-use developed envisaged to be developed on a 113-acre parcel strategically located in the prime Burka area, approximately 8 kilometers from Arusha CBD and only 10 minutes to the Arusha Airport. Upon completion, the development will comprise residential, retail, commercial, hospitality, medical and recreational facilities; integrated within a secure environment.

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