Cape Town - South Africans now have the opportunity to invest in a new development of luxury apartments and villas in Zanzibar.
The Zanzibar Amber Resort, a world-class beach, golf and hospitality resort, is situated on the prime north-eastern coast of Zanzibar, just off the Tanzanian coastline.
With a total capital investment of $2bn, it will be the largest hospitality investment and resort in East Africa.
The seven-phase resort development spans 411 ha and includes a 4km stretch of prime Indian Ocean coastline. It is being developed by Pennyroyal (Gibraltar) Zanzibar.
The resort is described as a luxury tropical community that will include a vast array of options and facilities.
As part of the resort environment there are plans for five 5-Star hotels, including a Ritz Carlton and Anantara Resort, apartments and villas, an Ernie Els Signature 18-hole golf course and clubhouse, a gourmet underwater restaurant, a series of man-made islands, a man-made off-shore reef, a luxury marina and super-yacht facility, a souk-style mall, a dedicated private airport, a tropical aqua park, an equestrian centre, an international school and a medical facility.
The development has the stamp of approval from the Zanzibar government and is expected to create approximately 5 000 jobs during construction and permanent employment for a further 5 000 staff. A strong emphasis will be on green building, a minimised footprint and environmental sustainability.
Dr Andrew Golding, chief executive of the Pam Golding Property (PGP) group, which has been appointed to market the residential development of the resort, says this prestigious new resort development will place Zanzibar on the map as a high-end lifestyle destination offering sound investment opportunities as a year-round permanent residential or rental location.
Prices of residential units will be finalised and available soon.
“With numerous airlines around the globe flying daily to Zanzibar to historic Stone Town, Zanzibar Amber Resort is just an hour’s drive away, making it easily accessible," explained Golding.
“Ideally suited for leisure use, we anticipate the residential offering - which will include fully serviced villas linked to iconic 5-star world renowned hotels plus an additional range of luxury villas and apartments – will attract buyers from South Africa, East Africa – mainly Kenya and Tanzania - the Middle East, China, Western as well as Eastern Europe.”
Purchasers will acquire the residential units on a 99-year leasehold basis, with an option to renew for a further 49 years. This is the first opportunity for non-residents of Zanzibar to legally own titled land on the island. Residency is available and can be granted for three years, which is then renewable for a fee.
Construction of the resort has been awarded to Metallurgical Corporation of China, a Chinese Fortune-500 company which was responsible for the Bird’s Nest Stadium in Beijing.
Zanzibar is already known as a tourism destination in the Indian Ocean. It is a World Heritage Site and has a rich and diverse cultural history.
“The potential for this world-class development is huge. According to New World Wealth, there are over 11 000 dollar millionaires across East Africa, fuelling the demand for high end goods and services, including high quality housing," said Golding.
"East African economic growth continues to outperform the rest of Africa, while the region has been successful in attracting foreign investment in recent years, including the attention of numerous international hotel groups.”
Saleh Said, managing director of Zanzibar Amber Resort, says it will significantly change the perception of the world towards Zanzibar, strategically placing it on the map as a luxury gateway.
Zanzibar also offers incentive packages to strategic investors. All foreign investors own 100% of their businesses and government continues to introduce measures aimed at improving the business environment to ensure profitable business opportunities.
Rapid growth in Zanzibar’s tourism sector has seen this account for 27% of the gross domestic product (GDP) and between 70% and 85% of foreign earnings, and identified by government as a strategic growth sector.
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