A luxury apartment complex in Zanzibar is set to signal a shift towards more responsible and eco-friendly building practices.
Shivo Towers, a 9,740 sqm plot located in Paje, is made up of two towers of luxury apartments with world-class amenities such as a communal pool, spa gym, restaurant/bar and tropical manicured gardens.
Shivo has partnered with Muchmore Architectural Design and leading architect Christian Bonu on the project, which aims to establish a new benchmark for sustainable property development in Zanzibar.
Shivo Towers is made up of two towers comprising 162 luxury apartment units and four penthouses. The apartment types are The Prestige Studios (studio suites), The Presidential Suites (one and two-bedroom apartments), The Regent Mezzanine Collection (luxury mezzanine apartments with 7.5m high ceilings) and Royal Giraffe Penthouses (with private infinity pool). Prices start at approximately US $116,000, rising to US $1.4m for the exclusive penthouse suites.
Construction is now underway with the complex set to be completed in 2027.
The project was granted an investment certificate by ZIPA – the Zanzibar Investment Promotion Authority. ZIPA is responsible for promotion and facilitation of investment in Zanzibar, as well as economic development. Shivo Towers has reached its first construction milestone with the completion of ground investigation works and environmental studies.
Richard Ashby, the entrepreneur behind the Shivo Towers project, says: “Zanzibar is really elevating itself as a luxury travel destination and we have received plenty of interest in these apartments from people living overseas such as the US and Dubai.
“Zanzibar has become a true gem for international investors. The improved infrastructure and growing flight connections have made it incredibly accessible, but it’s the unique blend of natural beauty and rich culture that really seals the deal. We’re seeing buyers from all over the world who recognise this isn’t just another beach destination – it’s a rare investment opportunity in a truly special place and emerging market.”
Real estate investment in Zanzibar is on the rise due to an expanding tourism industry leading to demand for properties on the island.
Ashby adds: “If you consider the cost of building and purchasing a similar type of property in resorts like Barbados or the Maldives, Zanzibar is a very attractive proposition for investors.
“There has been a lot of investment in air and road infrastructure on the island and it is a rapidly surging market in terms of luxury tourism, so the demand is there for these properties making them an ideal investment.”
“Returns on investments from rentals and reselling through value appreciation on property are massively expanding on the island, meaning there has never been a better time to consider investing in property here.”
Visit www.byshivo.com.
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