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Cameroon to Sell High-End Apartments to Fund Social Housing Construction

Cameroon: State real estate corporation SIC loses XAF500 mln annually by paying VAT from its equity

Every year, Cameroon Real Estate Corporation (SIC) loses money because it fails to add VAT taxes to the rent collected from clients. This is the

Douala: Célestine Ketcha Courtès denounces misuse of the Mbanga Bakoko social houses

The social houses built by the State in Mbanga Bakoko, Douala, are subleased by buyers, Housing Minister Célestine Ketcha Courtès denounced in a

SIC's current rent pricing is affecting development, the CTR says

SIC’s current rent pricing is affecting development, the CTR says (Business in Cameroon) - The Cameroon Real Estate Corporation (SIC) has already recorded a XAF60 billion revenue shortfall because of the current rent policy, according to Ahmadou Sardaouna, director-general of the state-owned corporation.  In an interview with the government daily Cameroon Tribune, the executive revealed that the houses rented by SIC at XAF50,000 monthly have the same standing as those rented by private owners at XAF200,000. He added that because of the high revenue shortfall, SIC initiated discussions with the state to raise the rents to at least 50% of the value collected by private owners.