Transforming East Africa’s real estate landscape

Harris Marley

Global Courant

CPS (www.CPS.Africa), Tanzania’s largest private real estate developer, is pleased to announce its latest project in Fumba Town – “The Soul Fumba.” Following the huge success of ‘The Soul’ project in Paje, where all units sold out earlier this year, CPS is expanding its reach to the urban environment of East Africa’s first eco-city.

Highlighting the remarkable success that contributed to the immense popularity of the original development, CPS CEO Sebastian Dietzold proudly presented “The Soul Fumba” project at the launch of the new CPS office in Masaki near Kaffe Koffee. In addition, he expressed his sincere appreciation to key stakeholders, including the Government of Zanzibar, for their invaluable support in achieving this important milestone.

“The Soul Fumba” offers 200 dream holiday apartments, strategically located on the west coast within the infrastructure of Fumba Town, with a range of amenities such as health facilities, playgrounds, permaculture gardens, retail spaces, food courts and office spaces. The prime location near Stone Town and the airport ensures convenience for residents and visitors alike. In addition, “The Soul Fumba” promises a high return on investment by capitalizing on both Zanzibar’s thriving tourism industry and the appreciation in value of a fast-growing urban centre. This makes “The Soul Fumba” an ideal choice for investors, as well as singles, couples and families looking for a home in Africa.

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As part of the Fumba Town Development Project in the Free Economic Zone, “The Soul Fumba” welcomes foreign buyers. In addition, the government of Zanzibar has announced attractive incentives, including residence visas from an investment of $100,000 and tax breaks. CPS strives to create a welcoming environment for international investors interested in the Zanzibar real estate market.

“The Soul Fumba” condos are sold off-plan, allowing buyers to secure their units with a 15% down payment. A generous 5-year payment plan is available, with monthly installments starting at $1,270. CPS Chief Commercial Officer Tobias Dietzold emphasizes that while buyers make their payments, their vacation homes are being prepared for move-in, making for a seamless and convenient experience.

Each purchaser of “The Soul Fumba” apartments receives a 99-year lease title, which entitles them to inherit, mortgage, sell and rent their property. CPS is committed to providing buyers with long-term value and security so they can get the most out 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, general manager of Watumishi Housing Investment; and Abdulrahman Said, Managing Partner of Bankable. The panel aimed to explore the potential opportunities in the real estate sector boosted by the booming tourism industry.

Zanzibar has recently been awarded the prestigious title of Africa’s Best Travel Destination as declared by “The Travel Magazine”. Surpassing iconic locations such as Mount Kilimanjaro, Cape Town and Kenya’s Masai Mara, Zanzibar’s tourism industry has not only recovered to pre-pandemic levels, but also expects a remarkable 30% growth compared to 2022. The thriving economy of the country is ready for an expected growth of more than 7% in 2023.

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With a progressive government welcoming foreign investment, the property industry in Zanzibar has experienced rapid growth in recent years, making Zanzibar a fertile ground for growth and expansion, with endless opportunities for those who rise to the challenge.

CPS invites prospective buyers and investors to explore the exciting opportunity of “The Soul Fumba” and join the journey of creating a vibrant community in Fumba Town. For more information, visit the CPS website or contact their dedicated sales team.

Distributed by APO Group on behalf of CPS Zanzibar Limited.

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Media contact:
Name: Baraka Strato Mosha
Title: PR and communication specialist
Phone: +255788106050
E-mail: (email protected)

About CPS:
CPS is a Tanzania-based real estate company with a German background that develops vibrant, affordable urban communities. The focus is on sustainability and empowerment of local businesses. CPS is currently executing two major construction projects in Zanzibar, with more African projects in the pipeline. CPS founders Sebastian Dietzold, his wife Katrin and his brother Tobias Dietzold are from Leipzig and have lived in Tanzania for decades. www.CPS.Africa

About the city of Fumba:
Fumba Town is the first sustainable, equitable housing development in East Africa and has been praised for its innovative approach to developing efficient, accessible buildings for the African housing market. Fumba Town, located in Zanzibar, 20 minutes from the international airport, is the fastest growing urban development. With a total investment volume of $400 million, CPS is developing thousands of residential units with environmentally friendly and sustainable building technologies, supported by state-of-the-art infrastructure. www.Fumba.Town

This press release is issued by APO. The content is not checked by the African Business editors and none of the content has been checked or validated by our editors, proofreaders or fact-checkers. The publisher is solely responsible for the content of this announcement.

Transforming East Africa’s real estate landscape

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