Anantara Zanzibar to become most luxurious resort in Africa

Anantara Zanzibar to become most luxurious resort in Africa

Unguja. Infinity Developments a subsidiary of Infinity Group based in Dubai has launched one of the most luxurious resort in Africa, the Anantara Zanzibar Resort which is set to be completed in 2027.

The project is set to transform the pristine shores of Nungwi, Zanzibar, with their latest project the Anantara Zanzibar Resort whose construction is set to kick off at the end of October.

The project which has an estimated value of $230 million, and it promises to be the pinnacle of luxury in the continent, featuring an opulent blend of 110 exquisitely designed hotel rooms and suites plus 94 high-end apartments and villas which are for sale.

The aerial view of the development once completed

In a statement the developers said, the apartments will not only allow the buyers to have an amazing home, but also to enjoy access to all of the hotel amenities.

As Zanzibar emerges as one of the fastest-growing travel destinations globally, there is a rising demand for luxury accommodations.

The Anantara Zanzibar Resort, alongside the Four Seasons project in Pongwe, aims to cater to this niche market. The influx of high-end tourism is expected to drive economic growth, create local jobs, and increase government revenue.

The Anantara Zanzibar Resort will offer an unparalleled experience of elegance and sophistication against a stunning coastal backdrop.

A taste of luxury by the seaside

Speaking to the Citizen, Infinity Developments Chairman Samuel Saba said Zanzibar as one of the fastest growing travel markets in the world with very few countries that can match the kind of infrastructure, history, experiences, peace, and safety like Zanzibar. 

“The government is also doing an amazing job in developing and promoting the country. The airport here is also better than most international airports in other countries, and there are new roads being built every day. We are very proud to be able to play a small part of building an even better future for Zanzibar,” he said

Anantara Resort Zanzibar will add to their diverse array of projects that are in Dubai, Malawi and now Zanzibar with a gross development value (GDV) of $450,000,000 .

The projects according to Mr. Saba range from luxury buildings and branded resorts to residential communities, catering to diverse markets and lifestyles.

Scheduled to debut in the heart of Nungwi’s serene coastal setting, Anantara Zanzibar Resort is more than just a luxury getaway; it’s a testament to world-class excellence and innovation.

Designed with meticulous attention to detail, the resort boasts a range of accommodations including spacious villas, lavish suites, and modern apartments, each offering breathtaking views and unrivaled amenities.

Upon arrival, guests will be greeted by a reception area that seamlessly blends contemporary decor with traditional Zanzibar accents.

This welcoming space sets the stage for a stay characterized by elegance and warmth, embodying the resort’s commitment to creating a memorable and luxurious experience.

The Anantara Zanzibar Resort is set to redefine coastal luxury with its impressive array of amenities. Guests can immerse themselves in the resort’s lagoon and swimming pools, enjoy an array of dining options ranging from casual beachside eateries to gourmet specialty restaurants, and unwind with indulgent spa treatments.

For those seeking active pursuits, the resort offers a well-equipped gym, sports facilities, and an outdoor cinema.

The beach club and bars will provide ideal spots for relaxation and socializing, while business facilities ensure that corporate guests can balance work and leisure seamlessly.

The resort’s dedication to providing a comprehensive and luxurious experience means that every moment spent here is extraordinary.

With its planned construction, Anantara Zanzibar Resort is set to become not just a place to stay, but a destination that embodies the very essence of luxury and sophistication in Zanzibar.

Original Media Source

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Britam half-year net profit hits Sh2bn on higher investment income
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Britam half-year net profit hits Sh2bn on higher investment income

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The rise in half-year net profit from Sh1.64 billion posted in a similar period last year came on the back of net investment income rising 2.5 times to Sh13.27 billion from Sh5.3 billion.

“We are confident in the growth and performance trend that Britam has achieved, supported by its subsidiaries in Kenya and the region. Our business is expanding its revenue base while effectively managing costs,” Britam Chief Executive Officer Tom Gitogo said.

“Our customer-centric approach is fueling growth in our customer base and product uptake, particularly through micro-insurance, partnerships, and digital channels.”

The investment income growth was fueled by interest and dividend income rising 34 percent to Sh9.1 billion, which the insurer attributed to growth in revenue and the gains from the realignment of the group’s investment portfolio.

Britam also booked a Sh3.79 billion gain on financial assets at a fair value, compared with a Sh1.8 billion loss posted in a similar period last year.

The increased investment income helped offset the 12.7 percent decline in net insurance service result to Sh2.13 billion in the wake of claims paid out rising at a faster pace than that of premiums received.

Britam said insurance revenue, which is money from written premiums, increased to Sh17.8 billion from Sh16.6 billion, primarily driven by growth in the Kenya insurance business and regional general insurance businesses, which contributed 30 percent of the revenue.

The group has a presence in seven countries in Africa namely Kenya, Uganda, Tanzania, Rwanda, South Sudan, Mozambique, and Malawi.

Britam’s insurance service expense hit Sh13.6 billion from Sh11.3 billion, while net insurance finance expenses rose 2.6 times to Sh12.3 billion during the same period.

“Net insurance finance expenses increased mainly due to growth in interest cost for the deposit administration business driven by better investment performance. This has also been impacted by a decline in the yield curve, which has led to an increase in the insurance contract liabilities. The increase has been offset by a matching increase in fair value gain on assets,” said Britam.

Britam’s growth in profit is in line with that of other Nairobi Securities Exchange-listed insurers, which have seen a rise in profits.

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CIC Insurance Group posted a 0.64 percent rise in net profit to Sh709.99 million in the same period as net earnings of Liberty Kenya nearly tripled to Sh632 million from Sh213 million, while Sanlam Kenya emerged from a loss to post a Sh282.2 million net profit.

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