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Rani Investments adds to property portfolio in Mozambique, Zambia

By GAR staff on 29.04.2014.

Rani Investment is adding three properties to its shared Mozambique portfolio with the Minor Hotel Group (MHG), all of which will be reflagged under the Anantara and Avani brands later this year, while in Zambia the Dubai-based investment company has partnered on a housing project in Chilanga.

The Rani Resorts portfolio investment in Mozambique represents a significant expansion on the initial joint venture in August 2013, that announced the take over the Indigo Bay Resort & Spa in Mozambique and its November rebrands as the Anantara Bazaruto Island Resort & Spa.

“This latest investment demonstrates Minor Hotel Group's commitment to the country’s growing tourism sector and to the overall African tourism market.”

The new properties are the 185-key Pemba Beach Hotel & Spa, which will be rebranded as an Avani resort, and two island properties on the Quirimbas Archipelago – the 2500-foot-long, 13-chalet Medjumbe Private Island and a resort of 24 villas on Matemo Island – that will both carry the Anantara brand.

Dillip Rajakarier, CEO of Minor Hotel Group, said: “This latest investment in three hotels in Mozambique demonstrates Minor Hotel Group’s commitment to the country’s growing tourism sector and to the overall African tourism market. We are actively exploring other opportunities to expand our footprint in Africa through the expansion of all our brands.”

MHG, has a 25% equity investment in the properties, in joint ownership with Rani Resorts. The Thai-based group now operates 108 hospitality venues with 13,000 keys in 14 countries, including properties in Tanzania and Kenya run in partnership with the Elewana Collection.

In Zambia, Rani Investments has partnered with Hazida Investments of Zambia to launch Southview Park Housing, a project to construct 154 houses and a gold course on an 11.5-hectare land parcel. It is expected to create 150 local jobs in Chilanga, which is situated 20km south of Zambia's capital, Lusaka.

Bernard Forster, director of asset management for hospitality and real estate at Hazida, said: “Zambia is currently seeing significant infrastructure development projects which have the potential to unlock opportunities in the local real estate sector. As an international investment firm, we are excited about our investment in Zambia through Southview Park.”

Rani Investment is the investment arm of the Saudi-based Aujan Group Holding and holds more than $300m in dedicated Middle East and Africa investments. It is also the largest private hospitality owner-operator in Mozambique, with an established presence under the Rani Resorts name since 1999.