Asian developer Hing Construction will bring a new five-star hotel resort to Lusaka.
The resort with around 150 rooms will be spread over 12 floors and situated on a podium.
The partners believe the project could offer a long-term solution for chains such as Kempinski, Fairmont, Marriott, or Hilton.
Construction is expected to start in August 2023 and will be fully financed through issuing medium-term institutional bonds.
Hotel investment advisor Barrows is providing guidance on the project using its African and Middle Eastern regional experience.
Both parties have signed into a capital acquisition agreement for the realisation of this project with a total project value of $110 million.
Barrows CEO Erwin Jager detailed: “Barrows will raise the funding within its institutional network of hedge funds and retirement funds. Both parties are focused on large-scale hotel developments in West and Central Africa.”
The rooms are spread over 12 floors and situated on a podium where the other facilities, such as a restaurant, meeting facilities, business center, Wellness, sports facilities and a vertical farm, will be realized.
Parking will be located in the basement.
Other Zambian hotel projects underway include two Radisson Hotel Group sites, the 200-key Radisson Blu Mosi-oa-Tunya Livingstone Resort arriving before the end of this year, and Park Inn by Radisson Lusaka Longacres, bringing 135 keys to the country’s capital this year too.
Good leadership brings investment…
Is this insult to poor Zambians
The only insult to poor Zambians was allowing 10 years of PF mismanagement
Your relatives will be employed as cleaners and cheap labour there and you are even happy here that this is development. You lack ambition you cheap upnd cadres
Really laughable…this Troll keeps giving itself away if you are based in the UK why are you using the word “there” as if you are far away …you still think you are KZ who claimed to be in Zambia. What a clown.
Great News !! here comes the investment we have been waiting for to create good quality jobs for our youths and ramp up the growth of our tourism industry….Yes,we can achieve 3 million tourists by 2024.
“The partners believe the project could offer a long-term solution for chains such as Kempinski, Fairmont, Marriott, or Hilton.”
This article does not make sense at all …the author does not have a clue whatsoever what s/he is writing about, I mean what long term solution to Marriott, or Hilton these are two very big hotel brands and competitors ..how is another resort in Lusaka city going to help their balance sheet. Who are these partners or developers ..this article is more of an investment proposal than anything concrete plus the only major construction company by that name is a Hong Kong general contractor called Hip Hing Construction never delivered a single infrastructure project outside Hong Kong.
“The partners believe the project could offer a long-term solution for chains such as Kempinski, Fairmont, Marriott, or Hilton.”
This article does not make sense at all …the author does not have a clue whatsoever what s/he is writing about, I mean what long term solution to Marriott, or Hilton these are two very big hotel brands and competitors ..how is another resort in Lusaka city going to help their balance sheet. Who are these partners or developers
..this article is more of an investment proposal than anything concrete plus the only major construction company by that name is a Hong Kong general contractor called Hip Hing Construction never delivered a single infrastructure project outside Hong Kong.
..this article is more of an investment proposal than anything concrete plus the only major construction company by that name is a Hong Kong general contractor called H ip Hing Construction never delivered a single infrastructure project outside Hong Kong.
Why haven’t Zambia’s rich politicians come together and invested in such a venture? Where do they take the money they steal?
When I was young in the late 80s and 90s there was an armed robber gang that terrorized Lusaka…in one hiest they hit big time and robbed a bank…these guys didnt know what to do with the money they couldnt lay low for a while, couldnt go to the car dealer and splash out so they partied in the compounds buying everyone saugages and drinks…police who were hot on their tails just followed the money and caught them drunk. In a nutshell a thief who has stolen money can not make such long term investments …he has not earned that money to know how to spend it.
I agree with Zedian: There are those PF cadres who always say “Why give mines to foreigners or why borrow to settle debt when we can collect tax from mines or use our own local investors”. Now . come out of hiding you monkeys. You fellow monkey local Businessmen cant even build a five star lodge,let alone a hotel of this standard. Where is Bob Sichinga? he stole alot of money when he was commerce minister selling illegal Mukula trees and recently talks alot of nosense. Where is he? we want him here to build us a hotel for us to work there. I will never forget in 2007 his Son Temwaka, told me in my face when i was job hunting, knowing his father was a Mukula thief “Mudala, pa Zed nikuzionela”. These thieves were heartless mwe.
Anything beyond findeco house?