African Sun to pump in $25 million into Monomotapa hotel expansion

Hotels and leisure chain, African Sun Limited (ASL), plans to spend $25 million to expand the Monomotapa Hotel, once the City of Harare approves its request to acquire a portion of the Harare Gardens, an official said.

Monomotapa Hotel, formerly Crowne Plaza, plans to construct an international conference centre and an open air restaurant among other leisure facilities. The new development will be at a site currently used as a parking lot that also includes a public swimming pool and gym.

The council deal is reported be worth around $2 million.

George Manyere, the chief executive of Brainworks Capital, major shareholder in ASL, told shareholders at an annual general meeting that discussions for the transaction were continuing.

“We are not trying to get the whole park. The amount of land that we need is about eight percent of the park (Harare Gardens),” Manyere said.

“We hope that the City will favour us with that authority to extend. That investment is roughly close to about $25 million and we are quite advanced in the preparations for that type of investment. What is left right now is for the city to consider our application.”

Some Harare City councillors have voiced their opposition to the deal, which is still under consideration by the city fathers.

Manyere said the deal was crucial in the “rejuvenation of the city.”

Harare currently has one international conference centre owned by Rainbow Towers Group.

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