The groundbreaking for Shivo Towers, a luxury apartment project in Paje, Zanzibar, has commenced. Covering 9,740 sqm, the development features two towers with 162 apartments and four penthouses, offering high-end amenities like a pool, spa, gym, restaurant/bar, and tropical gardens.
Shivo partnered with Muchmore Architectural Design and architect Christian Bonu to create a model of sustainable development for Zanzibar. The apartments, including studio suites and penthouses with private infinity pools, are priced between $116,000 and $1.4 million. Construction is set for completion in 2027.
The project’s early milestones include completed ground investigations and environmental studies. Shivo Towers has also been recognised by the Zanzibar Investment Promotion Authority (ZIPA) with an investment certificate, underscoring its significance for the local economy.
Richard Ashby, the project’s founder, stated, “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.”
Real estate demand in Zanzibar is surging due to its flourishing tourism sector. Ashby remarked, “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 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.
