Bab al Bahar – BAB (Gateway to the Ocean) investment in Tanzania
- Autonomous control of investment proceeds by Entrepreneurs.
- Few other benefits to be facilitated by "project owners"
- Free Economic Zone
- No Customs duty and other taxes charged on imports or such projects.
- No Exchange control restrictions
- No restriction on repatriation of profits.
- No restrictions on recruitment of Foreign Staff on management & technical contrats.
- Residence Visa provided with property purchase
- Ten years Corporate tax holiday
- Up to 99 years Sub lease to ALL Nationalities
- Withholding taxes exempted for Ten years.
Project Owner: Imperial Zanzibar Ltd (IZL)
Project Concept: The First mixed use sustainable Residential, Retail & Commercial development project in Zanzibar (Leading touristic destination in East Africa).
Project Location: Fumba, Unguja Island, Zanzibar, Tanzania (In Free Economic Zone)
South-west coast of Zanzibar. 22 Kms from ZNZ Int’l Airport and close to the Stone Town. 20 minutes flight from Dar-es-Salaam.
Project size: 59 Hectares, 1.6 Kms shore Line*
(Another 54 Hectares plot with 1.6 Kms Shore line available next to the project site*).
Land Value: Minimum USD 37 Million approx.
Project value: USD 300 Million approx.
Construction: 5-7 YEARS max
Fumba, being a Free Economic Zone, provides attractive packages of incentives and investment protection, alongside Zanzibar Investment Promotion Agency (ZIPA) which offers the following benefits and features;
– Ten years Corporate tax holiday
– Withholding taxes exempted for Ten years.
– No Customs duty and other taxes charged on imports or such projects.
– No restrictions on recruitment of Foreign Staff on management & technical contrats.
– No restriction on repatriation of profits.
– No Exchange control restrictions
– Autonomous control of investment proceeds by Entrepreneurs.
– Up to 99 years Sub lease to ALL Nationalities.
– Residence Visa provided with property purchase
– Few other benefits to be facilitated by “project owners”.
* Any investment in Tanzania is guaranteed against Nationalization and Expropriation, via the Country’s membership of the “International Centre for settlement of Investment Disputes (ICSID) as well as the “Multilateral Investment Guarantee Agency (MIGA) of the World Bank.
IZL will partner with a selected team of international Architects, Designers, project managers & Contractors that will all work to meet and exceed local expectations, standards, values and principles.
The development team have been passionately involved in major Real Estate projects especially in the Middle East & Europe, and have been known to be highly Experienced, Organized, Structured, dynamic, diligent, innovative, Disciplined and with a great vision. Their projects target the benefits of the communities, investors and all other stakeholders.
The project is divided into different zones and can be developed individually or all together and it will be the first in Zanzibar to operate via Efficient, legally protected and fully managed Escrow accounts with renowned international banks. A conservative and flexible approach has been used for the whole development allowing multiple financing options. BAB has been specially designed as a Special Purpose Vehicle (SPV) by IZL to facilitate the investors/financers. Other options can be considered*
IZL is working in collaboration with internationally renowned companies to provide Design, Project, Commercial plan, Cost Programme & Risk Management of developments. Maximizing value and Efficiency of investing in Physical Assets.
Detailed information can be available upon a formal “Expression of interest” addressed to:
The Managing Director
Mohamed Nassor Mahfoudh
Imperial Zanzibar Ltd
- ID: 30652
- Published: November 24, 2020
- Last Update: November 24, 2020
- Views: 1376