Construction has begun on Shivo Towers, a luxury apartment complex in Paje, Zanzibar, marking a new milestone in eco-friendly property development. Spread across a 9,740 sqm plot, the project features two towers, offering 162 premium apartments and four opulent penthouses. Amenities include a pool, spa, gym, restaurant/bar, and meticulously designed gardens.
In partnership with Muchmore Architectural Design and Christian Bonu, the project aims to set a precedent for sustainable development on the island. Apartments range from studio suites to penthouses with private infinity pools, priced between $116,000 and $1.4 million. The complex is expected to be completed by 2027.
Early milestones for Shivo Towers include environmental studies and ground investigations. The project has been awarded an investment certificate by the Zanzibar Investment Promotion Authority (ZIPA), highlighting its contribution to the island’s economic development.
Richard Ashby, the entrepreneur leading the development, said, “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 further noted, “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 rising demand for luxury properties in Zanzibar is being driven by a booming tourism sector. 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 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.
