Nico on course with hotel project | The Times Group: "Nico on course with hotel project
Posted By: Chimwemwe Mangazion: May 11, 2018In: BusinessNo Comments
Nico Holdings Limited has said plans are at an advanced stage to commence construction of a $45 million hotel in Lilongwe as part of the company’s strategy to expand its accommodation business in the country.
Nico Holdings Chief Executive Officer, Vizenge Kumwenda, said the conglomerate will implement the project through one of its subsidiaries, Blantyre Hotels Limited. Further, he said Nico would partner a South African company to develop the property.
He said the project is likely going to commence before the end of this year.
“We will be able to do this project because of the partnership we have with experts in property development, Eris, from South Africa. Nico Asset Managers are the ones that will do the capital raise, Blantyre Hotels will be one of the investors and our target is to break ground on construction before December,” Kumwenda said."
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Posted By: Chimwemwe Mangazion: May 11, 2018In: BusinessNo Comments
Nico Holdings Limited has said plans are at an advanced stage to commence construction of a $45 million hotel in Lilongwe as part of the company’s strategy to expand its accommodation business in the country.
Nico Holdings Chief Executive Officer, Vizenge Kumwenda, said the conglomerate will implement the project through one of its subsidiaries, Blantyre Hotels Limited. Further, he said Nico would partner a South African company to develop the property.
He said the project is likely going to commence before the end of this year.
“We will be able to do this project because of the partnership we have with experts in property development, Eris, from South Africa. Nico Asset Managers are the ones that will do the capital raise, Blantyre Hotels will be one of the investors and our target is to break ground on construction before December,” Kumwenda said."
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