Peninsula Plaza Ltd (IFC-33972)

  • Tanzania
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Dec 29, 2016
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Construction
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 41.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 68.70 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 14, 2017

Disclosed by Bank Apr 4, 2016

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.
The Peninsula Plaza project ("the project" or "Plaza") is a proposed mixed use shopping mall consisting of two four-storey buildings with two underground parking levels in the Masaki area, Kinondoni District, Dar es Salaam, Tanzania. The Plaza will be the largest shopping center on the Msasani Peninsula, designed to be a one stop neighborhood mall for shopping, dining and entertainment, with office space.The project is being developed by Peninsula Plaza Limited (PPL or "the company"), a private limited company incorporated in Tanzania in 2007 and based in Dar es Salaam. The development has a total estimated cost of US$68.7 million. IFC is considering a project finance investment of A loan of US$17 million and a B loan syndication of US$24 million in the Plaza.The Plaza will serve the area's consumer class, mainly consisting of local residents. Site attributes include relatively good road infrastructure, with the site fronting on to Haile Selassie Road the single lane main thoroughfare along the peninsula. The road widening to two lanes will be planned by the City Council, to be implemented during Plaza operation. The Plaza will include a five screen multiplex cinema, restaurants, boutique retailers, a large gym, cafes, 806 underground parking bays and 7,090 m, of premium office space.The company acquired the 18,560 m, site on Msasani Peninsula in 2007 through an open market process. A detailed design has been prepared for the building by HOK (US) and Synergy (India). Initial excavation works for the Plaza commenced in February 2016. Construction will be managed by a team of international professionals hired by the company. Advent Constructions Limited has been appointed as the contractor for this project.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.
Mr. Deep Virdi / Ms. Salima Lakhani, Peninsula Plaza Limited, 368 Msasani Road, Oysterbay Office Complex, Block B, 3rd Floor, P.O. Box 3016 Dar es Salaam, Tanzania Email: Phone: +255 (0)719 342916 / +255 (0)22 216 5113 Facsimile: + 255 22 2165165 ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at You can learn more about the CAO and how to file a complaint at

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How it works