A new luxury residential development in Dar es Salaam’s upscale Masaki neighbourhood is challenging the conventional approach to apartment pricing by allowing buyers to purchase homes on any available floor or with any available view at the same price.
The developer of Divine Serenity, a $30 million (about Sh78 billion) residential project, says the pricing model is intended to give homebuyers and investors greater transparency while responding to the changing dynamics of the city’s fast-evolving property market.
Unlike many high-rise developments where apartments command higher prices based on floor level or sea views, Divine Serenity will initially offer 30 selected residences under a pricing structure that removes such premiums.
According to RE/MAX Tanzania Regional Owner James Prevost, the approach reflects the reality that views cannot always be guaranteed as surrounding areas continue to develop.
“If apartments have the same size, design and specifications, buyers should be able to choose their preferred available floor or view without paying an additional premium,” he said.
He noted that in some developments, apartments with identical layouts can attract premiums of up to 20 percent simply because they are located on higher floors or enjoy sea views.
“As Masaki continues to develop, neighbouring buildings may eventually alter those views. Unless a developer controls all surrounding land, it is difficult to guarantee that a particular outlook will remain unchanged,” he said.
Mr Prevost added that the pricing model could also improve investment returns by allowing buyers to avoid paying additional costs that may not necessarily translate into higher rental income.
“If an investor pays 20 percent more for an apartment but cannot achieve 20 percent more in rent, the additional premium can reduce the rental yield. Controlling the initial purchase price is an important part of protecting an investor’s potential return,” he said.
The 136-unit development, located along Haile Selassie Road in Masaki, has already sold 41 residences ahead of its official launch, representing more than 30 percent of the project.
The development is being undertaken by Divine Steel Ltd Tanzania, part of India’s Nav Durga Group.
Managing Director Shivanshu Chhawchharia said the company remains confident in Tanzania’s property market and the long-term growth of Dar es Salaam.
“Divine Serenity reflects our confidence in Tanzania and in the continued growth of Dar es Salaam. Our objective is to create a distinguished residential destination that combines a prime location, thoughtful architecture, extensive amenities and a purchasing structure that offers genuine value to homeowners and investors,” he said.
The project is also introducing a milestone-based payment plan under which buyers can reserve selected apartments with an initial payment of $5,000 before paying the balance over a period of up to 36 months.
Under the arrangement, scheduled instalments will be linked to completed construction milestones rather than fixed calendar dates, allowing purchasers to track progress before making subsequent payments.
The development will feature rooftop padel courts, an infinity swimming pool, a restaurant, fitness centre, children’s play area, banquet hall, retail outlets and landscaped communal spaces.
The developer says the launch offer, which includes a 15 percent discount on selected residences, will run until August 8, subject to availability.
Masaki remains one of Dar es Salaam’s most sought-after residential neighbourhoods, attracting growing interest from local buyers, expatriates and institutional investors due to its proximity to diplomatic missions, business centres and lifestyle amenities.
