The much-anticipated construction of Shivo Towers, a luxury apartment complex in Zanzibar, has commenced. Located in Paje on a 9,740 sqm plot, the development will feature two towers with 162 elegant apartments and four penthouses. Residents will benefit from world-class amenities, including a pool, spa, gym, restaurant/bar, and lush gardens.
Designed in partnership with Muchmore Architectural Design and architect Christian Bonu, the project is setting a new benchmark for sustainable property development in Zanzibar. The apartments, ranging from studios to opulent penthouses with private infinity pools, are priced between $116,000 and $1.4 million. The project is expected to be completed by 2027.
Shivo Towers has achieved significant milestones, including ground investigations and environmental studies. The project also received an investment certificate from the Zanzibar Investment Promotion Authority (ZIPA), highlighting its alignment with the island’s economic and environmental goals.
Richard Ashby, the entrepreneur spearheading the development, commented, “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.”
Ashby added, “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.”
The surge in tourism has significantly boosted Zanzibar’s real estate market. Ashby explained, “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.”
He concluded, “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.”
For more information, visit Shivo’s website at www.byshivo.com and follow their journey on Instagram @shivo_tanzania.