Rani Investment Announces Completion Date for New Iconic ‘Torres Rani’ Towers in Mozambique Capital
(06/05/2015) Rani Investment, the Hospitality and Real Estate business arm of Aujan Group Holding, announced today that completion of its iconic residential and office towers, Torres Rani, built along the oceanfront of Mozambique’s capital, Maputo, is scheduled for November 2015. The announcement was made on the sidelines of the Arabian Hotel Investment Conference (AHIC 2015), held from 5-7 May in Dubai.
Torres Rani, the Group’s latest real estate development project in Mozambique, is part of a $206 million joint venture with Minor Hotel Group announced in August 2014. The development includes the Radisson Blu Hotel, Maputo, an upscale 154-key property, operational since January 2013.
The iconic two tower structure spans 775,000 sq. ft. of GFA and includes a residential tower of 181 furnished and serviced residences, 224,000 sq. ft. of office space, a two-storey secured covered parking garage, and an essential retail area servicing both the residential and office towers. Within the residential tower, 117 studio and one-bedroom units will be fully managed by the Radisson Blu. Lifestyle amenities include two swimming pools, a children’s play area, restaurants and lounges, and a state-of-the-art gymnasium.
Commenting on the announcement, Salim Bitar, CEO of Hospitality and Real Estate at Aujan Group Holding said: “With the remarkable growth that Mozambique has seen over recent years and the structural evolution in its economy, demand for quality residential and commercial real estate is on the rise.”
Salim added: “Rani Investment has 20 years of experience in developing hotels, serviced residences and offices in the Middle East and in Southern Africa. Torres Rani is an architectural statement of what we believe reflects the ambition, diversity and vibrancy of Mozambique, and we are proud to bring that vision to reality.”
He concluded: “Every part of the towers project has been well thought through to ensure we are providing aworld class property in terms of infrastructure, health and safety standards and property management, as well as a 5-star service second to none in Maputo.”
Rani Investment has been unlocking the tourism potential of Southern Africa for the last 15 years. Today Rani Investment offers six world-class hotels and resorts set around Mozambique and Zimbabwe, all designed to the highest standards.
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For further details please contact:
Rosemary Youssef, Bell Pottinger, +971 55 5597391, ryuossef@bellpottinger.com
About Aujan Group Holding
Aujan Group Holding (AGH) is a diversified holding company, active in a wide range of industries, including FMCG, Hospitality & Real Estate, and Packaging Materials. A family business with a history dating back over a hundred years and a deep-rooted pioneering spirit, AGH has successfully leveraged its brand building and market development skills along with proven industry experience to drive sustainable profitable growth within the Middle East and Africa regions.
About Rani Investment
Rani Investment is the Hospitality and Real Estate business arm of Aujan Group Holdingwith more than $500 million of committed investments in the Middle East and Africa. Its mission is to ensure superior returns to its shareholders through pioneering investments that are guided by its philosophy of long term horizon and tolerance for measured risks.
About Minor Hotel Group
Minor Hotel Group (MHG) is a hotel owner, operator and investor, currently with a portfolio of 133 hotels, resorts, camps and serviced suites in operation under the Anantara, AVANI, Per AQUUM, Oaks, Tivoli, Elewana, Marriott, Four Seasons, St. Regis, Radisson Blu and Minor International brands. Today MHG operates almost 17,000 rooms in 22 countries across Asia Pacific, the Middle East, Africa, the Indian Ocean, Europe and South America. With ambitious plans to grow the hotel group to 190 properties, MHG continues to expand the home grown brands of Anantara and AVANI, plus continues to announce strategic acquisitions. For more information please visitwww.minorinternational.com.