The construction of Shivo Towers, a luxury apartment complex in Zanzibar, has officially begun. Situated on a 9,740 sqm plot in Paje, the project features two towers comprising 162 premium apartments and four exclusive penthouses. Residents will enjoy top-tier amenities, including a communal pool, spa, gym, restaurant/bar, and lush landscaped gardens.
Collaborating with Muchmore Architectural Design and esteemed architect Christian Bonu, Shivo Towers is set to pioneer sustainable development on the island. The properties range from studio apartments to penthouses with private infinity pools, priced between $116,000 and $1.4 million. Completion is anticipated in 2027.
The project has achieved early milestones, including ground investigations and environmental studies, and has been recognised by the Zanzibar Investment Promotion Authority (ZIPA) with an investment certificate, highlighting its economic impact.
Richard Ashby, the driving force behind the project, shared, “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 continued, “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.”
Zanzibar’s booming real estate market, driven by its thriving tourism sector, has attracted global interest. Ashby noted, “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.”
Ashby added, “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.
