Real Estate developer CPS unveils 'The Soul Fumba' project

CPS a real estate developer in Tanzania, has announced its latest project in Fumba Town, ‘The Soul Fumba’ which follows success of ‘The Soul’ project in Paje, with all units were sold out earlier this year.

Speaking on the remarkable success that contributed to the original development's immense popularity, CPS CEO Sebastian Dietzold proudly showcased "The Soul Fumba'' project during the launch of the new CPS Office in Masaki, Dar es Salaam.

"The Soul Fumba" offers 200 dream holiday apartments, strategically located on the west coast within the Fumba Town infrastructure, boasting a range of amenities such as health facilities, playgrounds, permaculture gardens, retail spaces, food courts, and office areas,” he said.

 He added: The prime location near Stone Town and the airport ensures convenience for residents and visitors alike. Furthermore, ‘The Soul Fumba’ promises high returns on investment by benefiting from both the thriving tourism sector in Zanzibar and the value appreciation of a fast-growing urban centre. This makes ‘The Soul Fumba’, an ideal choice for investors but also singles, couples, and families seeking a home in Africa.

As part of the Fumba Town Development Project in the Free Economic Zone, ‘The Soul Fumba’ welcomes foreign buyers.

According to Mr Dietzold there are attractive incentives which include residency visas starting with an investment of $100,000 and tax benefits.

 This he said aims at creating a welcoming environment for international investors interested in the Zanzibar real estate market.

"The Soul Fumba" apartments are sold off-plan, allowing buyers to secure their units with a 15 percent down payment. A generous 5-year payment plan is available, with monthly instalments starting at $1,270.

According to Chief Commercial Officer of CPS, Tobias Dietzold, as buyers make their payments, their holiday homes will be prepared for them to move in, ensuring a seamless and convenient experience.

Each purchaser of "The Soul Fumba" apartments will receive a 99-year lease title, providing them with the rights to inherit, mortgage, sell, and rent out their property. CPS is committed to ensuring long-term value and security for buyers, allowing them to make the most of their investments.

The unveiling of "The Soul Fumba" was accompanied by a panel discussion featuring prominent figures, including Graham Leslie, Executive Chairman of The Hotel Association Zanzibar & President of Conservation Capital; Fred Msemwa, Managing Director of Watumishi Housing Investment; and Abdulrahman Said, Managing Partner of Bankable.

 The panel aimed to explore the potential opportunities in the real estate sector spurred by the thriving tourism industry.

Zanzibar was recently named Africa's top travel destination, as declared by "The Travel Magazine’, surpassing iconic locations like Mt. Kilimanjaro, Cape Town, and the Masai Mara of Kenya with the isles tourism sector having rebounded beyond the pre-pandemic levels with industry experts anticipating a remarkable 30 percent growth in 2023 compared to 2022.