Expanding real estate investments in Zanzibar

Zanzibar and Tanzania are becoming prominent hubs for real estate investments as Africa witnesses a surge in urbanization, driving up the demand for housing. In a recent interview with CNBC Africa, Sebastian Dietzold, the CEO of CPS Africa, shared insights into the sustainable timber homes project in Zanzibar, a cutting-edge development set to transform the real estate landscape in the region. The Fumba Town project in Zanzibar, spanning 149 acres, is a groundbreaking initiative that aims to cater to a diverse income group, from $30,000 to $500,000, promoting inclusivity and community living. With a focus on the Tanzanian market, the project has garnered interest from over 71 countries, making it a truly international urban community. The development has already seen the completion of 700 residential units, with plans for an additional 400 units this year, targeting a total population of 20,000 residents. The project, supported by the Zanzibar Investment Promotion Authority, offers investors a 99-year title deed and boasts high returns on investment, with property values doubling in just three to four years. The sustainable approach of the project is underscored by its commitment to permaculture and green infrastructure, setting a new standard for environmentally conscious urban developments in Africa. Dietzold emphasized the significant role of timber construction in reducing carbon emissions and combating global warming. By harnessing sustainably sourced timber from regions like Tanzania, Uganda, Mozambique, and Southern Sudan, developers aim to create a circular economy that promotes reforestation and biodiversity. The shift towards timber homes not only addresses the housing deficit in Africa but also contributes positively to the environment, paving the way for a greener future. Moreover, the project is poised to challenge traditional construction methods by introducing contemporary timber designs that prioritize affordability and sustainability. The upcoming Bursch Zanzibar, set to be the tallest timber residential tower in the world, symbolizes a new era in construction, advocating for timber as the future of real estate development. By industrializing the production of pre-manufactured timber homes, CPS Africa aims to revolutionize the construction industry, making high-quality and cost-effective housing accessible to the rapidly growing African population. The project aligns with global efforts to support green initiatives and combat climate change, showcasing the potential of timber construction in redefining the urban landscape in Africa and beyond.