The government of Tanzania was in the process of tabling a bill in Parliament to regulate the growing real estate industry, a senior official said Thursday.
William Lukuvi, Minister for Lands, Housing and Human Settlements Development, told the National Assembly in the capital Dodoma that the real estate business has grown fast over the past few years.
"A framework to govern the industry is vital or else the government will be losing a lot of its revenue," Lukuvi said.
He said the bill will seek to control exploitation of hopeless tenants by landlords and real estate agents.
He said the government was aimed at supporting and closely monitoring the unregulated fast growing industry.
In February, 2012, members of Parliament from across the political divide endorsed a private member's motion seeking to end rogue real estate agents who exploited the sector.
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