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Real estate guru invades Zanzibar

14 Jan, 2019 - 15:01 0 Views
Real estate guru invades Zanzibar From left Yusuf Dimoso, Nyasha Zinyama and EMHA Chief Operations Officer Felix Musewu

H-Metro

14 January 2019

From left Yusuf Dimoso, Nyasha Zinyama and EMHA Chief Operations Officer Felix Musewu

…acquires land for housing projects

From Trust Khosa in ZANZIBAR

ZIMBABWE has scored yet another first after leading housing and mortgaging firm, Enhanced Mortgaging Housing, managed to penetrate the island of Zanzibar.

Not only has the firm managed to make inroads in the east African  tourism hub, the firm has started developing residential stands there with hundreds of hectares of land ear-marked for property development.

Now trading as Enhanced Mortgaging Housing Africa after inking a deal with Zanzibar’s property consultant and lawyer Yusuf Dimoso, the firm targets low income earners who are itching to own property.

Some of the houses in Fumba Town to be replaced by new structures, thanks to EMHA

Like the Zimbabwean model, which has been endorsed by many as the ‘painkiller’ to desperate home-seekers, EMHA seeks to empower Zanzibaris to own property as is the case back home where  thousands of people have joined the various life-changing schemes.

The scheme is being spearheaded by EMHA chief operations officer Felix Musewu and marketer Nyasha Zinyama who flew to Zanzibar along with their Zanzibar counterpart, Yussuf Dimoso.

In an interview with H-Metro, Musewu could not hide his elation as they have managed to invade Zanzibar.

“Like we indicated earlier this year in your paper, we have finally sealed the deal with our partners here in Zanzibar and all the paper work has been done.

Workers mould bricks for the housing project

“We have done all the necessary paper work and the Zanzibar government has given us the green-light to venture into real estate development.

“Judging by the progress we have done so far, are going we will go full throttle into land development towards the end of February.

“Under the deal 70 percent of the work force is going to be comprised by locals while 30 percent are going to be technocrats that we are going to hire from Zimbabwe and other countries,” he said.

Musewu said they have also decided to invade Zanzibar after realising that they were lagging behind in as far as real estate development goes.

One of the towns being being developed by EHMA

“From the research  that we have carried out, we have also noted that besides the potential the country has in tourism, there is also need to empower them in property development as we are doing back home.

“Areas that we have been given land for property development include Fumba Town, Kiwenga, Nungwi, Yambiyami among other areas,” he said during the tour of Fumba Town where the workmen were busy on the ground moulding brings set for new project.

He added:

“We are pleased with the progress that we have made so far and we are looking forward to a great partnership.

“We have also noted that the laws of this country are flexible as they allow foreigners to come and invest here.

“Under their laws, you are allowed to have 100 percent ownership of your investment and we took the opportunity to come and invest here.”

In another interview, EMHA partner Dimoso said they were looking beyond Zanzibar as they are set to conquer other African countries.

“We are not only targeting Zanzibar only as we are also eyeing other countries like Zambia, Burundi, Kenya, Botswana among other SADC countries.

“We are targeting mainly low income earners going to the top.

“In our first phase, we seek to construct over 20000 housing units and we know that by the time that we start construction work, all will go according to plan.”

Asked why they were targeting low income earners, Dimoso said:

“If your look closely, you will realise that most people here have no hopes of owning houses and we have devised a means to ensure they have a shelter.

“Most people here are not even dreaming of owning houses because they are expensive but we have decided to come up with a tangible solution to ensure that we ease their sorrows.

“Others have since given up on owning property as they think it’s the duty of government to provide for them, a perception we want to bring to an end,” he said.

Dimoso said all the paper work was now in place and they will only go full throttle next month.

He also said he has decided to venture into property development as a way of giving back to his country.

“By the way, I am a lawyer by profession but I have done my research and I have decided to venture into the housing sector after noting that I can do better and change my people’s lives.

“Currently, I am studying towards a PHD in housing sector so I have noted that I have a big role to play  and change people’s lives,” he added.

Dimoso, who regularly visits Zimbabwe, said he has also learnt a lot from EMHA’s housing model and their partnership is set to change people’s lives.

With a population of over 1,5 million people, Zanzibar is still lagging behind in infrastructure.

Despite a huge influx of tourists visiting the island, the country has liberalised investment under the Zanzibar Investment Property Authority (ZIPA) where foreigners have high chances to starting business in the country.

According to a recent report, Zanzibar is an archipelago of two main Islands – Unguja  and Pemba with 52 islets – covering 2654 square kilometers.

Tourism contributes immensely to the Gross Domestic Product.

In Zimbabwe, EMHA headquarters are found in Belvedere.

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