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Time to invest in A Kind of Magic in idyllic Zanzibar

25.10.18

The long-awaited Queen biopic, Bohemian Rhapsody, was released this week with Rami Malek making a star turn as the legendary Freddie Mercury.

As of March this year, non-Tanzanian residents are being encouraged to invest in property in the beautiful archipelago of Zanzibar – the birth place of the eccentric front man.

The East African nation is allowing investors not native to Tanzania to buy property on the stunning tropical island for the first time.

Tanzania has seen strong economic growth in recent years and foreign investment is expected to boost it even further. The 2017 Africa Report from Knight Frank found that Tanzania is one of very few African nations to have maintained a GDP growth in excess of 5% in 2016.

The country is experiencing large scale development in residential real estate, with developments such as the Blue Amber Resort by Pennyroyal Zanzibar Ltd expected to have its first residential phase complete by 2020.

Non-Tanzanian residents will be able to buy property in the community, with 47 luxury double-storey villas currently being built starting from $672,000 (£520,910).

The resort will become the largest in Africa – covering 411 hectares of Indian Ocean coastline. Once finished it will include five luxury hotels, East Africa’s first signature 18-hole golf course - designed by former world number one, Ernie Els - and a marina with deep water mooring.

Blue Amber resort website: https://www.blueamberzanzibar.com/

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