Right policies vital for impactful real estate industry

CPS Zanzibar, a real estate developer has stressed that with the right policies and framework in place, the real estate industry in Zanzibar can significantly impact the economy and society.

The CPS Chief Operations Officer, Ms Katrin Dietzold, made the remarks when sharing her insights on housing policy and industry pioneering work at the European Union Business Group Tanzania panel held at Julius Nyerere International Convention Centre in Dar es Salaam, recently.

“CPS Zanzibar’s participation in the EUBG Tanzania panel discussion demonstrates the company’s commitment to promoting sustainable development in the real estate sector in Tanzania,” she said.

The company’s innovative development approach, exemplified by its Fumba Town project, has set a new benchmark for sustainability and community impact in the industry.

During the panel discussion, Ms Dietzold illustrated the opportunities of a supportive housing policy to unlock the real estate sector’s enormous potential in Zanzibar and offer the rapidly growing population a good home.

Ms Dietzold also shared her experiences with pioneering areas of the real estate industry in Zanzibar, stressing that the government and the market need innovative developers ready to meet the challenges posed by new construction technologies.

She encouraged other industry players to approach Zanzibar with a clear goal but flexibility along the way. Patience, resilience and humility are required for success.

Ms Dietzold highlighted the benefits of working in Zanzibar, noting that the government is approachable and the environment more manageable than much of Tanzania. She encouraged other developers to look to Zanzibar as fertile ground for growth and expansion, with endless opportunities for those up to the challenge.

Fumba Town, a project developed by CPS has sold over 1000 homes. Fumba Town offers discerning homeowners worldwide the space to live, work and develop in a safe, sustainable, multinational, multicultural and intergenerational environment.

The iconic city already hosts shoppers from over 50 countries, underscoring its strong global appeal.