AFRICA
Zanzibar
Open For Business
New opportunities await investors
THE FINE PRINT
Purchasers will acquire the residential units on a 99-year leasehold basis , with an option to renew for a further 49 years .
Residency is available and can be granted for three years , which is then renewable for a fee .
BY SAMANTHA BARTES
F or the first time in history , Pennyroyal Gibraltar Ltd . is allowing non-residents to invest in property on the tropical island of Zanzibar through the development of the Zanzibar Amber Resort . As part of the first phase of the mega-development , internationals will be able to purchase luxury villas and apartments .
The tropical community will be appointed across 4km of prime Indian Ocean coastline , offering residents and tourists alike an unsurpassed variety of hospitality and leisure facilities . Zanzibar Amber Resort will be the largest of its kind in East Africa , home to the 18- hole Ernie Els Design Signature Golf Course , a deep-water marina , aqua park , East Africa ’ s first underwater restaurant , a glamourous Souk style shopping mall , an equestrian centre , a super yacht facility and an international polo club . The resort will also hold an international school which is affiliated to premier educational establishments , faith centres for a diverse range of religions , a private airport for private jets and aeroplanes to be stowed and a medical centre .
Maintaining its commitment to Government , investors , partners and buyers , Pennyroyal Gibraltar Ltd . has committed to best practice standards and methods for this development in excess of One Billion US Dollar development in North Eastern Zanzibar . All leases , environmental clearances , construction permits and approvals have been processed and secured and Pennyroyal is backed with the full support of the President of Zanzibar , His Excellency Dr Ali Mohamed Shein .
" Our Responsible Development ethos ensure that the villas are sited on generous plots ”, Says Director of Zanzibar Amber Resort , Saleh Said , " Meticulous attention has been paid to the planning and details of each space to provide our residents with peerless domestic comfort and contemporary fittings .”
The Pam Golding Property group have been selected to market the purchasing opportunities . Says Dr Andrew Golding , CE of the Pam Golding Property group : “ The potential for this world-class development is huge . 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 .”
Purchasing opportunities will be made available at the end of 2017 .
52 SEPTEMBER 2017 SA Real Estate Investor Magazine