The construction of Shivo Towers, a high-end apartment complex in Zanzibar, has officially begun. Located on a 9,740 sqm site in Paje, this development comprises two luxury towers, featuring 162 apartments and four penthouses. Residents will have access to a range of amenities, including a pool, spa, gym, restaurant/bar, and beautifully designed gardens.
The project, designed in partnership with Muchmore Architectural Design and Christian Bonu, aims to set a benchmark for sustainable and eco-friendly construction in Zanzibar. The apartments, ranging from studios to penthouses with private infinity pools, are priced between $116,000 and $1.4 million. Completion is anticipated in 2027.
Early achievements for the project include the completion of ground investigations and environmental studies. Shivo Towers has also been awarded an investment certificate by the Zanzibar Investment Promotion Authority (ZIPA), highlighting its role in supporting the island’s economic and environmental progress.
Richard Ashby, the entrepreneur leading the development, 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 elaborated, “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 rising status as a luxury destination has boosted demand for premium real estate. Ashby added, “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 concluded, “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.
