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Mozambique: Dubai World to Invest in Bilene
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Agencia de Informacao de Mocambique (Maputo)
18 February 2008
Posted to the web 19 February 2008
London
Dubai World Africa has announced plans to invest 200 million dollars in a hotel complex at Bilene, a popular tourist resort in the southern Mozambican province of Gaza.
The complex will include a golf course and a nature reserve. The nearby Sao Martinho Lagoon is a breeding area for leatherback turtles, and the area has an important coral reef.
The company is establishing a subsidiary, Dubai World Conservation Africa to handle this project along with other conservation areas in Africa.
Dubai World Africa is part of the holding company Dubai World, through which the government of this Gulf emirate runs its large portfolio of international businesses. The Dubai company will spend 150 million dollars on an international competition standard golf course, a five star hotel and 500 villas and condominiums.
According to the Chairman of the Dubai World Group, Sultan Ahmed bin Sulayem, the company will invest about 1.5 billion dollars in Africa over the next five years.
The company is already active in the Mozambique transport sector. Dubai Ports World owns 60 per cent of Maputo International Ports Services (MIPS), which runs the Maputo container terminal. More recently, the Dubai company took a stake in the Maputo Port Development Company (MPDC) which manages the entire port.
Explaining the decision to invest in Mozambique, Sultan bin Sulayem explained that Africa lies alongside China and India as the group's hotspots for investment. "There are vast opportunities in Africa, opportunities unlike anywhere else in the world, such as the magnificent Bilene Hotel. Our presence on the continent places us at an advantage for African investment".
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Dubai World Africa also has assets in South Africa, Rwanda, Djibouti, THE Comoros, Zanzibar, and Morocco.
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| Copyright © 2008 Agencia de Informacao de Mocambique. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections -- or for permission to republish or make other authorized use of this material, click here. | |||||||||||||||||||||||||||||
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