Rani Investment is expected to complete its residential and office development, Torres Rani, built along the oceanfront of Mozambique’s capital, Maputo, on scheduled in November 2015.
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, chief executive of hospitality 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 a world class property in terms of infrastructure, health and safety standards and property management, as well as a five-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.