Zanzibar to revoke undeveloped land leases

Unguja, Zanzibar:

The Zanzibar Investment Promotion Authority (Zipa) has said it will revoke land leases from investors who fail to develop them within the required period.

The authority issued the statement on Monday January 2 in South Unguja Region during the inauguration of TOA a five-star hotel.

Zipa’s executive director Mr Shariff Ali Shariff said the undeveloped land will be taken and issued to investors who are able to implement tangible investments on it.

“We are against investors who take land and leave it idle for years, we are going to give this land to capable investors,” he said.

Mr Shariff used the Israeli investors who built the TOA hotel as an example of an investment that had matured within a short period.

He said the investor started the construction in August 2021 with $3.5 million capital and to date they had already utilised $2.7 million equivalent to 77 percent of the projected investment.

“These are the type of investors we want,” he said.

He has said that in improving the investment environment, they are preparing a new investment policy that will be in line with the modern environment and strengthen investment areas integrating digital usage.

Gracing the event, former President Dr Ali Mohamed Shein said Zanzibar’s hospitality sector has grown significantly since the revolution from having two hotels to over 600 currently.

“Zanzibar has a history of being generous and loving, so it is good that we continue with keeping the peace and promoting our own without accepting to be disturbed by people who have bad intentions for our country,” said Dr Shein

On his part, the TOA hotel manager Mr Ally Muhungoo said, the hotel which has 86 rooms has created 85 employment opportunities, with 70 of the employees being Zanzibaris whereas five are foreigners.