1 Barrows (www.BarrowsHotels.com), the provider of hotel investment and advisory services for hotels in the Middle East and Africa, is advising Asian developer Hing Construction on a new 5-star resort hotel development in Lusaka, Zambia.
2 “Barrows will raise the financing within its institutional network of hedge funds and retirement funds.
4 Both parties have signed a capital acquisition agreement for the realization of this project with a total value of the project of 110 million dollars.
5 The rooms are distributed over 12 floors and located on a podium where the other facilities will be located, such as a restaurant, meeting rooms, a business center, Wellness, sports facilities and a vertical farm.
6 Parking will be located in the basement.
7 The expected start of construction of this project is August 2023 and will be fully financed through the issuance of medium-term institutional bonds.
8 The project offers a perfect long-term solution for chains such as Kempinski, Fairmont, Marriott or Hilton.
9 Barrows has a strong order book with a total value of over $600 million.
10 Barrows is responsible for major hotel developments, refurbishments, financial acquisitions and restructuring projects in the industry.
11 The excellent financial and operating results confirm the strength of our company’s development project in line with the company’s 5-year guideline.
12 We continue to have exciting opportunities and a strong business commitment for all of our projects in exciting locations, said President and CEO Erwin Jager.
13 Zambia offers its visitors beautiful sights such as botanical gardens, a nature and wildlife reserve, and the Munda Wanga Environmental Park. Zambia also offers many opportunities for the business traveler.
14 Zambia’s economy is highly dependent on mining, particularly copper extraction.
15 Although mining provides the highest returns, a large part of the Zambian workforce works in agriculture.
16 Zambia’s agricultural sector produces, among other things, rice, groundnuts, cotton and tobacco, which contributes to a good trading relationship within the export market to many countries.
17 Barrows Hotel Enterprises manages more than 10,000 hotel rooms internationally in more than 10 countries.