08 Aug 2017 'Mega leisure': Zanzibar investment boom continues with US$1bn tropical community BYKim Megson
The 411 hectare resort will be developed in seven phases along 4km of Indian Ocean coastline
photo: Zanzibar Amber Resort
Zanzibar’s accelerating development boom has taken yet another step forward, with the announcement of a new resort billed by its backers as “the largest premium hospitality investment and resort in East Africa” and featuring its own dedicated private airport.
The Zanzibar Amber Resort has been conceived by real estate firm Pennyroyal Gibraltar Ltd. Development and South Africa’s Pam Golding Property group as a “luxury tropical community”, traversing 411 hectares developed in seven phases along 4km of Indian Ocean coastline.
The venture will be the first of its kind to allow non-Zanzibar citizens to buy property in the semi-autonomous region of Tanzania, with apartments and villas for sale on a 99-year leasehold basis, with an option to renew for a further 49 years.
Leisure amenities planned include a Ritz Carlton and an Anantara Resort, expected to open in 2020; an Ernie Els Signature 18-hole golf course and clubhouse; an underwater restaurant; a series of man-made islands and an off-shore reef; a marina and super-yacht facility; a souk-style mall; a tropical aqua park; an equestrian centre; and an international school. In order to lure wealthy foreigners to invest in the community, residency can be granted for three years and is then renewable for a fee.
A design and construction team have yet to be announced.
“Zanzibar Amber Resort will significantly change the perception of the world towards Zanzibar, strategically placing it on the map as a luxury gateway, and we believe that Pam Golding Properties will be able to help us achieve this goal,” said Saleh Said, managing director of Zanzibar Amber Resort:
According to Pennyroyal Gibraltar Ltd, the US$1bn development, which is backed by Zanzibar president Ali Mohamed Shein, will “operate with a lower carbon footprint than any other resort in the world and sustain community development.”
Zanzibar has seen growth rates of around seven percent in recent years, and its tourism sector has grown to account for 27 per cent of GDP and between 70 and 85 per cent of foreign earnings. As such, it has been identified by government as a strategic growth sector, and investment in leisure has increased rapidly.
“The potential for this world-class development is huge,” said Dr Andrew Golding, CEO of the Pam Golding Property group. “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.
“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.”
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