Mozambique: Pestana Group to build new tourist real estate development

27 March 2008

Lisbon, Portugal, 27 March – Portuguese group Pestana said in Lisbon it planned to invest US$75 million in the construction of a new tourist real estate development in Mozambique.

The aim is to build around 150 houses with private swimming pools, a nine-hole golf course and a boutique hotel with 40 rooms, with the group planning to expand the Pestana Inhaca Lodge in this way from 40 to 80 rooms and create a commercial area with marina and lake.

The Pestana group currently owns three hotels units in Mozambique: The Pestana Rovuma Hotel, the Pestana Bazaruto Lodge and the Pestana Inhaca Lodge.

Turnover in 2007 at these three units was US$8 million and the number of employees totaled 310, 98 percent of whom are Mozambican citizens. (macauhub)