| 01 Oct 2007 |
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Dubai World to invest In Rwanda's Tourism Industry
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Dubai WorldDubai World
Will Invest in Eight Tourism Facilities In RwandaPartnership with the Government of Rwanda to develop country's tourism offering will include:
The 1,080 sq kilometre Akagera National Park
Projects in Nyungwe Forest National Park and The Volcanoes National Park
A hotel and residential golf resort in the capital city Kigali
01 October 2007, Dubai, UAE: Dubai WorldDubai World
announced it will invest approximately US$ 230 million in eight tourism facilities in the Republic of Rwanda, including luxury hotels; a residential golf course development; residential, high-end eco lodges; and the 1,080 square kilometre Akagera National Park. The assets will be developed and managed through Dubai WorldDubai World's investment arm Istithmar Real Estate.Dubai WorldDubai World signed an MOU yesterday with the Minister of State in charge of Investment Promotion and Industry Representation of Rwanda. The MOU saw the formation of partnerships between the Republic of Rwanda and Dubai WorldDubai World.
The partnership will see investment into Akagera National Park, home to the "Big Five" wildlife species, which spans 1,080 square kilometres of undulating plains and wildlife in the North East of Rwanda; including the redevelopment of the Akagera Game Lodge, a 60-room lodge with uninterrupted views of the National Park. The partnership will also see the redevelopment of the Gorilla Nest Lodge, in the breathtaking Volcanoes National Park, where two-thirds of the last 680 gorillas on the face of the planet live. The partnership will develop an environmentally sensitive luxury tent camp offering a five star service and bringing the gorillas' trekkers closer to the home of the animals.
will also build a new upscale 150-room hotel in Kigali, the capital of Rwanda, on the Kigali Golf Course. It will also redevelop the 18 hole golf course and the golf and country club, as well as building townhouses and villas. In partnership with the Rwanda Government, Dubai WorldDubai World will initiate a Golf Foundation, through which a percentage of golf course revenues will be allocated to the promotion of the game for local residents, especially the young, through a golf academy and other initiatives.The partnership will also develop an eco lodge adjacent to a tea plantation in the magnificent Nyungwe Forest National Park, which protects the largest single tract of mountain forest remaining anywhere in East or Central Africa.
Sultan Ahmed bin Sulayem, Chairman of Dubai WorldDubai World, said:
"Today's announcement marks the first stage of a strategic partnership between Dubai WorldDubai World and the Government of Rwanda. We have a strong understanding and affinity with our new partners, and look forward to building a long-term relationship that will see Dubai WorldDubai World play an active role in the master-planning of the country.
"We believe our partnership will make a significant contribution to the tourism offering in Rwanda. Conservation and sustainable development is our policy and vision for any tourism development, especially for a country so rich in nature as Rwanda. The investments we have made will help us achieve our vision of becoming the leading player in conservation-based game reserve operation and land conservation."
Honorable Vincent Karega, Minister of State in charge of Investment Promotion and Industry Representation of Rwanda, said:
"Our vision for Rwanda's socioeconomic transformation is to position our country as a hub for excellence and quality service. Tourism is a pillar for rapid economic growth within that context. Our policy choice for tourism is to become a high-end destination capitalizing on unique natural beauty, security, property rights, and zero tolerance for corruption. Private sector development is the backbone of the ongoing Rwanda renaissance. We welcome the partnership with Dubai WorldDubai World on a series of tourism and strategic projects that translate the vision into a reality."
Sultan Ahmed bin Sulayem, Chairman of Dubai WorldDubai World, added:
"This is an important strategic deal for Dubai WorldDubai World. Rwanda is recognised as the most improved sub-Saharan nation. It has come a long way in sustainable development, and has a safe environment which still has tremendous potential for growth. This development offers both partners significant opportunity. Construction on the developments will commence in late 2007 and we will open an office in Kigali to manage the existing trading operations, paving the way for increased tourist arrivals who seek quality service and high end experience."
-Ends-
Dubai World
Dubai WorldDubai World is a major holding company that manages and supervises a portfolio of businesses and projects and contributes to the rapid economic growth of the emirate across a wide range of strategic industry segments and projects that make Dubai a leading hub for commerce and trading.
Dubai WorldDubai World was established under a decree ratified on March 2, 2006 by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President & Prime Minister of UAE and Ruler of Dubai.
On July 2, 2006 it was launched as one of the world's leading holding companies, with more than 50,000 employees in over 100 cities around the globe.
Chaired by Sultan Ahmed bin Sulayem, Dubai WorldDubai World was mandated with a vision to continue expanding Dubai's aggressive growth, at home and abroad. It comprises of development, investment, marine services, commodities, and ports and free zone divisions.
Dubai WorldDubai World is a powerful growth engine with an unprecedented collection of companies including: DP World, the third largest port operator in the world, Economic Zones World, Nakheel, Drydocks & Maritime World, Limitless among others.
Some of Dubai's iconic projects, like Nakheel's The Palm Islands and The World are unique real estate concepts that bear the signature of Dubai WorldDubai World. The group also has extensive real estate investments in the US, the UK and South Africa, unique hospitality destinations in every corner of the world, and a growing global port footprint from China to Peru and Australia to Germany.
Dubai WorldDubai World business strategy is driven by a combination of acquisition and investment in diverse fields and is designed to deliver real, measurable results to Dubai WorldDubai World's business units and investment partners.
For further information, or photography to accompany this press release, please contact:
Four Communications Group
Ray Eglington
+971 55 985 3365 / +971 985 3365
Greg Moore
+971 4369 3726 / +971 55 985 3375
Istithmar
Rebecca Pearce
+971 4 375 9546 / +971 50 458 5345
© Press Release 2007
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