Have you ever dreamt of living on the sunny island of Zanzibar? Or perhaps you’ve long imagined investing in a slice or two of luxury real estate to enhance your portfolio? Either way, there are some exciting developments afoot on this breath-taking island paradise, which belongs to the United Republic of Tanzania and lies 22 miles off the coast of East Central Africa in the Indian Ocean.
Shivo Towers – this luxury high-service portered apartment building – is about to begin construction, and is set to afford residents access to a host of lavish amenities, including a sprawling communal pool, spa and gym. Set amidst expansive and perfectly-manicured tropical gardens on a spectacular second-line beach plot in Paje, on the island’s south-eastern coast, residents will also be able to enjoy dining at the development’s own high-end restaurant, ordering in room service and an on-site bar.
In a project being spearheaded by Brit Richard Ashby, who has 17 years of London real estate experience under his belt, the towers are already making waves amongst holidaymakers and property investors alike. It will feature a total of 187 apartments, which will include a mixture of studios along with one, two and three bedroom apartments and lavish penthouses.
Spread across two 45-metre towers approved by the TCAA (Tanzania Civil Aviation Authority), the development will comprise four penthouses, each with an asking price of $1.4 million, with entry-level studio suites starting at $120,000. There is a selection of properties and buyers can choose from either four or eight metre-high ceilings with mezzanines on three different floors – a unique offering that, to knowledge, has not yet been done anywhere else in the world.
“This is a new landmark for Zanzibar – world class penthouse living coming to the island for the first time. This is Manhattan-style luxury in East Africa,” says Ashby, founder and CEO of Shivo Tanzania.
“And Shivo Towers is probably one of the only apartment buildings in the world with such unbelievably high ceilings on multiple floors,” says Ashby. “In some, we’re talking seven point five metre-high ceiling heights or eight-metre slab height with the mezzanine built in, so it’s probably a first of its kind anywhere.”
Ashby’s second real estate project after relocating to the island four years ago, to escape Covid-19 restrictions, embodies Italian contemporary design, whilst also drawing inspiration from its natural surroundings and landscapes. Shivo Towers has been designed by the renowned Italian architectural firm Much More, based across London, Milan and Dubai and is led by director Christian Bonu.
Zanzibar has emerged as an increasingly popular destination for high-end holidaymakers over recent years, with its pristine, white sand beaches, turquoise waters and swaying palms attracting visitors from across the globe. Dubbed ‘the new Maldives’ in the travel sphere, it offers all of the luxury and sophistication you’d find in the former, but with myriad cultural experiences available for the taking, too. And, just a 20-minute flight from Dar Es Salaam – Mainland Tanzania’s main international airport – to Zanzibar airport – another major international airport in Tanzania – it’s also popular with safari-goers as a second stop and offers a relaxing place to round off an action-packed trip.
Holiday real estate has become a booming business on the island since in 2018, foreign buyers were given the green light to register deeds in their own names – something that had previously been prohibited. Its relaxed handling of the Covid-19 pandemic, which saw former president John Magufuli opt to keep the economy open and shun mask wearing and social distancing, attracted swathes of wealthy tourists who came to escape rigid restrictions elsewhere. Attracted by its spectacular natural beauty – as well as the fact that it was one of the only destinations in the world to take such a relaxed approach to the situation – many opted to stay on longer term, having fallen in love with the island’s carefree lifestyle and laid-back vibe.
Ashby was one of them, remaining on the island post-lockdown rather than returning to the UK. Whilst helping pay a key role in bringing to life an $8 million private real estate development featuring luxury villas in the popular beach hot spots of Nungwi and Paje – the majority of which have now been snapped up by investors – Shivo Towers is his latest and most exciting project on Zanzibar to date.
It’s estimated that investors in real estate on the island could stand to make an impressive 66 percent return.
Ashby says: “With investment coming into the island at record levels, tourists and investors are looking for a new gold standard in off-plan luxury living.”
Shivo Towers certainly delivers on that one, and properties are now available for buyers and investors to reserve.
