Groups from Dubai and Thailand invest in real estate in Mozambique

8 July 2015

Accommodation and lodging capacity in Maputo will increase from next November with the opening of Torres Rani, a construction project presented Tuesday, the Mozambican press reported.

Torres Rani is project expected to cost US$206 million and is the result of cooperation between Rani Investment, based in Dubai and the Minor Hotel Group of Thailand.

Built on 71,000 square metres in a prime area of ​​the Mozambican capital and overlooking the sea, the two towers presented on Tuesday have a residential part with 181 furnished apartments and an executive part, with an area of ​​22,000 square metres of office space, plus two floors of covered parking.

Most of the apartments will be managed by the Radisson Blu Hotels & Resorts group while the remainder will be placed on the market under lease, a process that has already been launched by a specialised company.

The Managing Director of Rani Investment, Salim Bitar, who spoke Tuesday at the presentation of the project said Torres Rani was a quality development with high standards of health and safety, interior design and maintenance services, which responds to new demand for leisure, business and high-quality housing in Maputo.

Rani Investment has done business in Mozambique for over 15 years and owns four hotels in the country, including the Avani Pemba Beach Hotel in the province of Cabo Delgado in the north, the Anantara Bazaruto Island Resort & Spa, the Anantara Medjumbe Island Resort & Spa and the Radisson Blu, the first development project in Torres Rani, a luxury hotel that has been operating in Maputo since 2012. (macauhub/MZ)