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Gambia's property boom: how Mustapha Njie is helping to 'house the nation
The last decade has seen a transformation in Gambia's property market. Government investment and the work of leading entrepreneurs has resulted in more and more properties becoming available to the local population.
By: Fatou Njie
Over the last ten years, the Gambian government has been committed to making The Gambia a safe haven for investment by encouraging private sector growth. The country has a stable economy, with property laws based on the UK legal system and significant investment in infrastructure such as roads, schools and hospitals. As a result of the government's policies, and the hard work of successful businesses such as Taf Gambian Property (www.tafgambianproperty.com)
Operation House the Nation: how it began
In 2000,Taf Gambian Property ventured into large-scale housing development. Taf Gambian Property is part of Taf Holding Company Ltd, owned by Mr Mustapha Njie, one of The Gambia's most respected businessmen. Code-named 'Operation House the Nation', the project had two goals. Firstly, to give the Gambian people an opportunity to own well-built, good quality homes, and secondly, to provide a good selection of property for outside investors.
Two sites were allocated to Taf Gambian Property for the development of low, middle and high-income houses: Yarambamba Housing Estate in Yundum, and Brufut Gardens in Brufut.
Yarambamba Housing Estate
This site comprises of two hundred and ten highly affordable two and three bedroom houses, giving local Gambians an unprecedented opportunity to own or lease their own homes. The site has excellent amenities with well-maintained roads, a mosque and a bustling market. The total project cost was $4.5 million and the company received $1.00 million as co-financing from Shelter Afrique, a Pan African Housing Finance Institution based in Kenya. The project was finished in early 2004.
Overlooking the Atlantic Ocean, opposite the newly built five star Sheraton Hotel, Brufut Gardens is Gambia's most modern and impressive housing estate, comprising over five hundred houses and apartment buildings. This beautiful site is just a five minute drive to Senegambia, The Gambia's main tourism area. Amenities include landscaped terraces and sidewalks with over 1,800 tropical fruit trees, 24 hour electricity and water supply, street lighting, garbage collection and 24 hour security. The total project cost was $35 million. Shelter Afrique has contributed $2.5 million in financing.
Looking to the future
Due to the work of companies such as Taf Gambian Property, the country is fast becoming a major tourist destination and an ideal place for investors to make their mark. As we look forward to the next ten years, Gambia's future is looking bright.
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Taf Gambian Property is the first and leading private estate developer in The Gambia. Quality properties just a walking distance from a magnificent beach overlooking the Atlantic Ocean.