Arusha Town Gateway: Hotel Apartments Investment Opportunity
Arusha, Arusha, Tanzania
Price: $750,000 negotiable
Property Description:
Welcome to the opportunity of a lifetime in Arusha Town, a picturesque tourist haven often referred to as the "Geneva of Africa," nestled in the heart of Tanzania's East Africa. This family property, located in the renowned "Corridor Area" or "Uzunguni," boasts a prime location that's just a stone's throw away from the Clock Tower – a historic landmark marking the midpoint between Cape Town, South Africa, and Cairo, Egypt.
With a generous total plot size of approximately 2223 square meters, this property stretches from the bustling Main Road (Clock Tower) to the serene Njiro Residences, offering a wealth of development possibilities.
Situated amidst a constellation of notable landmarks, this property is strategically positioned to cater to the ever-growing demand for Hotel Apartments and Residential Apartments in Arusha. The region serves as the gateway to Tanzania's iconic Northern Circuit tourism zone, featuring world-famous destinations such as Ngorongoro, Serengeti, and Manyara National Parks.
Key nearby landmarks include:
• New Arusha Hotel by Sheraton (Approx. 120 meters away)
• NSSF Mafao House (Approx. 50 meters away)
• PPF House (Approx. 100 meters away)
• Kibo Palace Hotel (Approx. 40 meters away)
• Gran Melia Hotel (Approx. 2 kilometers away)
• Novotel (Approx. 1.5 kilometers away)
• Safari Hotel (Approx. 150 meters away)
Arusha Town's tourist, conference, and diplomatic activities, including the presence of the African Court, East Africa Community, and Tanzanite Jewellery Stones Business, make it a hotbed of demand for short and medium-term accommodations. Currently, only one hotel apartment exists in the town and is consistently fully booked. Anticipated developments like the construction of a modern stadium in preparation for hosting major international tournaments, such as AFCON in 2027, are poised to further increase the demand for accommodations in the area.
This prime property offers a unique opportunity for an investor to partner in a Joint Venture contract. The envisioned development includes a 5 to 7-story hotel apartment complex featuring 1-bedroom, 2-bedroom, and a few 3-bedroom units (penthouses). Additionally, the facility could house a small gym, a quaint swimming pool, and a steam bath/sauna.
The ground or mezzanine floor presents excellent prospects for modern shops, such as coffee shops and boutique stores. The existing mini-supermarket on the premises, attracting hundreds of consumers daily, can be replaced with these new ventures. Underground parking facilities can also be considered for added convenience.
As the property owner, I am looking for an investor to provide the necessary funds for the development and oversee its operations. The final project details can be adjusted based on an investor's interest and a ground survey/research, ensuring mutual benefit for all parties involved.
This property is essentially a blank canvas, ready for transformation, as all existing infrastructure, including two flat houses and a mini-supermarket, will be cleared to make way for this exciting venture.
For your reference, you can find the Google Map location below. Arusha City is just a 2-hour drive from Nairobi, Kenya, and the property's location on Old Moshi Road promises substantial potential for this business endeavor.
Don't miss out on the chance to be part of this thriving opportunity in the heart of Arusha Town – contact us today for further details and to discuss this exciting joint venture!