The deal which comes only few months after the bank launched its revamped mortgage proposition, will see the provide Tanzanian’s both residents and non-residents, an opportunity to invest in Zanzibar’s stunning 5-star resort overlooking the Indian Ocean.
The Ocean Pearl Zanzibar is set to become one of its kind 5-star luxury condo resorts in the Isles upon completion of the first phase come mid-2025.
The dream destination will offer a unique combination of water, sandy beaches, culinary experiences, adventure and trips to nearby islands, history and culture, everything gathered in one place as to spoil and make visitors fail in love with this exotic destination.
The luxury condo resort will contain different types of apartments including studio apartments on the ground, first and superior floor with stunning view to the ocean from generous terrace; penthouse apartments with amazing pools, generous terrace with amazing sunshades and Jacuzzi; Pearl villas and Luxury villas with private pools, amazing ocean view, bar, generous terraces, and gardens.
George Alexandru, the Managing Director of Squid Zanzibar Limited –the developer of The Ocean Pearl Zanzibar, speaking during the press event, said “We are really thrilled to have secured this moirtgage agreement with Absa Bank Tanzania. For us winning the confidence of a Pan–African bank like Absa speaks volume about our credibility and it serves as a testament to the viability of this multi-billion shillings project”.
“To our potential investors, this is once-in-a-lifetime investment opportunity for those who have been looking to get into the hospitality business without wanting to deal with the hassles of day-to-day management of a hotel,” he added.
On her part, Ndabu Swere, the bank’s head of retail banking, said “When we launched our revamped mortgage proposition in February we promised to continue to enhance our proposition even further. And now within just six months we have come up with another great proposition that’s first of its kind in the market.
Obedi Laiser, the bank’s Managing Director, said “These kinds of deals are embodiment of our brand purpose and we are truly commited to empowering Tanzanians and this is why we are constantly coming up with new solutions and investment opportunities that are geared towards helping our customers grow their investments and real wealth.”
“This opportunity is open to both resident and non-resident Tanzanians, which means that even our relatives in the diaspora can also benefit from our home loan and capitalize on this great investment opportunity while continuing with their work abroad,” he added.
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