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U.K. Firm To Build $1 Billion Resort in Tanzania

October 26, 2016 at 01:00 pm | Money Moves

Mark Babatunde

Mark Babatunde

October 26, 2016 at 01:00 pm | Money Moves

The Zanzibar Amber Resort is expected to cost an estimated $1 billion, with construction expected to take eight years. Photo Credit: Africa Travel Resource

British firm Pennyroyal Gibraltar has announced plans to build a $1 billion resort complex on the island of Unguja in Tanzania. According to the Citizen, the new complex will be known as Zanzibar Amber Resort and will include five different 5-star hotels, a fully equipped equestrian center, a private jet airport featuring a 3,000-meter runway, state-of-the-art medical facilities, and an international school.

The investment could drastically transform the island by providing more than 1,500 jobs for locals during its construction. Pennyroyal Director Brian Thomson expects the project to take about eight years to complete.

The resort will be used for both hospitality and residential purposes and has been designed to provide its own electrical power, generating 25 to 30 megawatts of electricity when fully operational from a combination of gas and wind energy plants.

Academic scholars have identified unemployment and a lack of higher educational opportunities as the major problems faced by those living near the resorts proposed location. As part of its corporate social responsibility strategy, Pennyroyal plans to provide scholarships to nearby residents, including engineering scholarships and vocational training programs that will help prepare locals for any new job opportunities that the resort will need to fill.

Unguja’s region administrator, Borafia Silima, welcomed Pennyroyal’s investment, calling it a “welcome boost” to a region whose economy has been heavily dependent on fishing and seaweed farming. Pennyroyal has also announced plans to build a police station to enhance security in the area and an arts center to promote the culture of the local people.

 

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