Home » Tanzanian multimillionaire Said Bakhresa lists Zanzibar mansion for $12 million

Tanzanian multimillionaire Said Bakhresa lists Zanzibar mansion for $12 million

by Mfonobong Nsehe

Tanzanian multimillionaire Said Bakhresa – founder of the eponymous conglomerate Bakhresa Group and one of the wealthiest people in Africa – has placed his contemporary-style mansion in Zanzibar for sale on the market for a colossal $12 million, arguably making it the most expensive residence in Tanzania. 

The eight-bedroom mansion is situated in Millionaire Mile in Fumba Uptown Living, an ultra-exclusive gated community overlooking the southern coast of the Fumba Peninsula, which is a haven for marine life and has since 1998 been designated an area of outstanding natural beauty.

The home is presently Tanzania’s largest oceanfront residential property on the market, sitting on a total land area of 3,000 square meters.

The house has 1,500 square meters of green spaces and exterior surroundings. It has four living rooms and four kitchens, a library, office, gym, cinema, laundry room, four-park garage, an Olympic-size swimming pool, and another parking space accommodating five vehicles. The balcony has generous views of the Fumba peninsula. 

Fumba Uptown Living, the private gated community the villa is located, was developed by Union Property Developers, a subsidiary of the Bakhresa Group.

The villa was initially built as a residence for Bakhresa, but according to sources that spoke to Billionaires.Africa, the Tanzanian tycoon subsequently decided to put it on the market. The property has been on the market for two years now. In 2021, it was listed for $10 million, but the billionaire has since raised his asking price to $12 million. 

Bakhresa, 74, is one of the three wealthiest men in Tanzania – the other two being Mohammed Dewji and Rostam Aziz.

Bakhresa is the chairman of Bakhresa Group, which has tentacles in food and beverages, logistics, agro-processing, media, hotels, and marine transportation, among several other sectors. 

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