GOVERNMENT SIGNED $100M PARTNERSHIP FOR OIC FIVE STAR HOTEL
- April 14, 2021
As part of preparations for the 2022 OIC Summit, The Gambia OIC Secretariat on Monday, April 12 successfully organized a signing ceremony of the Concession Agreement between the Government of The Gambia and Immoland Sarl for the construction of an internationally branded five-star hotel.
Providing luxurious accommodation for the summit guests is one of the key mandates of the Secretariat and the Gambia government. The hotel will have 400 rooms including presidential and royal suites.
Immoland Sarl will finance the project 100% while the government provides the land. According to the group Chairman, Mr. Abdoulie Thiam, construction is expected to begin by next month and will last for about 20 months.
The Minister of Tourism, Hamat NK Bah, who signed on behalf of The Gambia government, described the partnership as ‘‘the biggest private investment in our tourism, ever’’. Reiterating the significance of the partnership, the Minister added that the project will contribute to the economy by addressing the absence of a branded hotel franchise in the tourism sector.
The Vice President lauded the venture stating that providing excellent accommodation facilities for the OIC Summit is a key infrastructural requirement. She assures Immoland Sarl of the government’s full support and stressed that it would continue to enhance the tourism potential of the country.
The investment partnership was borne out of the desire to create and promote intra-Africa cooperation and regional integration, according to Chairperson of Immoland Sarl, Mr. Abdoulie Thiam.
‘’Africans should begin to promote trade and investments among ourselves instead of always depending on foreign sources of financing’’, he said.
The event was attended by various Ministers and other dignitaries.