Ugandans can now invest in luxury property in Zanzibar
Ugandans can now invest in luxury apartments and villas in Zanzibar, part of the first phases in a new mega-development and resort to be built along the idyllic Indian Ocean coastline.
Fumba Uptown Living is an innovative residential development project, located along the southern shores of Zanzibar island. A unique residential community concept in Zanzibar that will provide its residents with a luxurious lifestyle and several options of chic housing units to choose from.
The design of these housing units is based on clean and modern lines, incorporating contemporary principles of both urban design and housing. Located some 25 kms from the town center and 21 kms from the international airport, the development is primarily accessed by vehicles. However, for the health and wellbeing of the community several provisions have been made for active transportation throughout the community.
The project comprises of around 500 luxury villas, several distinct types of apartment buildings, and ancillary buildings that capitalize on the stunning views of the ocean and this unique site location. The project was conceived with the input of an international consultant team comprised of several renowned professionals and subject matter experts from various design disciplines that include architects, interior designers, engineers, landscape architects and urban planners.
The development consists of several amenities that will complement the luxurious lifestyle. Some of the amenities planned within the development will include a school, community mosque, hospital, sports center, amusement and waterpark, retail spaces and commercial buildings, utility buildings, and several large open communal activity spaces and playgrounds for children.
A highlight of among these amenities is the seafront corniche that spans the entire length of the development. It creates a buffer between the community development and the beach and ocean beyond. It includes a walking and jogging track, retail shops, food kiosks and restaurants, children’s play areas, benches and sitting areas, an amphitheater, and an ample amount of public parking. This design feature is envisioned as an epicenter of public activity, particularly on evenings and weekends where both community members and the general public can mingle and enjoy the fabulous views and breeze of the ocean.
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.
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.
Zanzibar offers a stable economic and political environment with growth rates of around seven percent, a stable financial sector and lucrative incentive packages to strategic investors. All foreign investors own 100 percent of their businesses and government continues to introduce measures aimed at improving the business environment to ensure profitable business opportunities. Rapid growth in Zanzibar’s tourism sector has seen this account for 27 percent of GDP and between 70 and 85 percent of foreign earnings, and has been identified by government as a strategic growth sector.
smart real estate investment with a host of attractive foreign ownership benefits
Property owners will receive a host of resident benefits, including:
Zero tax on worldwide income, outside of Tanzania
Residents permit on purchase (buyer, partner, children under 25)*
Personal local income tax is reduced to 15%
No capital gains tax on properties purchased
No stamp duty on properties purchased
No inheritance tax on properties purchased
No minimum length of stay
*Residency permit must be renewed every 3 years and is valid for as long as the property is owned.
For more information on the investment opportunities, visit the website or contact on +256709220000 or via email.
