Zanzibar Minister for Labour, Economy, and Investment, Shariff Ali Shariff addresses guests during the launch of Coldwell Banker Tanzania and Zanzibar over the weekend. Centre is the company’s CEO Gina Washington and Miguel Pilgram, CEO of Pilgram Group, a property development company based in the Isles.
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By GUARDIAN Reporter
ZANZIBAR Ministry of Labour, Economy, and Investment has said that it will continue to expedite the issuance of investment permits without bureaucracy so that investors can start doing business with ease for the economic development of the Isles.
Speaking during the launch of international real estate investment company Coldwell Banker Tanzania and Zanzibar Real Estate which has a presence in more than 20 countries in the world, Minister Shariff Ali Shariff said that investment in the property market has huge potential to foster Zanzibar’s economic growth.
The company’s Chief Executive Officer (CEO), Gina Washington, echoed a similar opinion, adding that the market has the potential to provide more employment opportunities for young people.
According to the Zanzibar Investment Promotion Authority (ZIPA), 30 percent of the authority’s registered projects are in real estate, making it a promising area for further investments.
He said that the official launch of the company is a milestone that signifies not only the growth of a world-class real estate brand in our region but also the vast opportunities Zanzibar offers in the investment and property market.
“Zanzibar is experiencing a transformative era, driven by strategic economic reforms, increased investor confidence, and a forward-thinking government agenda. This event is a testament to our collective commitment to fostering a business-friendly environment that attracts global players while ensuring sustainable development that benefits both local and international stakeholders,” he said.
He added that the investment landscape has never been more promising with the government positioning investment as a key pillar for economic diversification and long-term prosperity.
“The rapid development of infrastructures, streamlined regulatory frameworks, and enhanced ease of doing business has made Zanzibar an attractive destination for investors across various sectors, including real estate,” he noted.
With tourism, and blue economy initiatives driving growth, the real estate sector remains a critical enabler of the vision to provide high-quality residential, commercial, and mixed-use developments that cater to our growing economy and international market demand, he said.
“In the last four years under the 8th Phase of the Revolutionary Government of Zanzibar, Zanzibar Investment Promotion Authority (ZIPA) has registered more than 430 investment projects account for a staggering 5.9 billion US dollars’ worth of capital and are expected to create more than 22,000 direct jobs to the locals.
With tourism projects leading the charts which accounts for more than 38 percent of all registered projects followed by real estate sector which accounts for more than 22 percent of all registered project. About 78 percent of real estate registered projects was registered in the last four years, this shows the readiness and willingness of our government in supporting the real estate business in Zanzibar.
For her part, Washington said that for over 119 years, Coldwell Banker has been a global leader in real estate, known for trust, integrity, and innovation.
“Today, as we establish Coldwell Banker in this region, our mission is clear—we are here to bring a new level of professionalism and transparency to the market, helping investors, developers, and agents to thrive,” she said.
Naimah Kunambi, Associate Broker and Sales Manager | Coldwell Banker Islemark Realty said that the launch is more than just the opening of a real estate brokerage but the beginning of a new standard in real estate, one built on excellence, professionalism, and a commitment to serving our clients, agents, and community at the highest level
“I want to take a moment to acknowledge and sincerely thank everyone who has played a role in making today possible—our dedicated team, our partners, our clients, and all of you here today. Your support and belief in our vision mean everything,” she said.
