Pestana Luanda Bay project in Angola to cost US$280 million

20 May 2013

The Pestana hotel group’s project in Luanda, the Pestana Bay Luanda, which includes a hotel, housing, offices and shops, will cost US$280 million and is due to be concluded in 2017, said Florentino Rodrigues, the group’s director for Africa.

This project, the project for which was signed last week with the Angolan National Private Investment Agency (ANIP), involves the Soehotur consortium, made up of the Pestana group, with 25 percent of the capital, Angolan company GBE, with 55 percent and Brazilian company Alphaville, with 20 percent.

Located in the Boavista neighbourhood of the Luanda downtown area, the Pestana Luanda Bay will be a complex of five buildings, with a 255 room five star hotel, two high rise buildings with 116 luxury apartments each and the Boavista Plaza, which will include offices and a leisure area with shops, restaurants, a casino and night club.

Rodrigues, who is also the chief executive of Soehotur, told Portuguese newspaper Sol that a commitment had been made to keep to the schedule of work, and that the project would begin in six to nine months. The Pestana Luanda Bay is due to start operating at the beginning of 2017.

Business in Africa, where the Pestana group has been operating since 1997, accounts for 7 percent of the group’s available beds, as well as of its revenues and operating results. It has three units in Mozambique, and a hotel each in South Africa, Sao Tome and Principe and Morocco.

With the new hotel opening in Luanda, that percentage is expected to rise, as the group may consider new projects in Angola.

The Pestana group, which was founded 40 years ago, manages 47 hotels in Europe, Latin America and Africa, and this year opened hotels in Miami, and Casablanca, as well as managing 37 units of the Pousadas de Portugal network. (macauhub)