Emirates Stallions Group (ESG), a subsidiary of Abu Dhabi’s International Holding Company (IHC), is set to build a hospitality development in Sudan for $65.3 million, Zawya reports.
ESG will develop the 16-floor hotel and residences project, which will feature 300 hotel rooms and apartments, in partnership with DAL Group, the largest private sector conglomerate in Sudan, the media notes, citing a statement of the Abu Dhabi Securities Exchange (ADX).
“This is an exciting project that is going to serve as a cornerstone asset for growing/ enhancing the group’s exposure to unserved promising markets in the region,” said Matar Suhail Al Yabhouni Al Dhaheri, chairman of ESG.
“While this is our first hospitality development in Sudan, we have completed similar projects in Africa and Europe over the years.”
The project, first of the company in African country, will be developed in the $4
billion Al Morgan Development in central Khartoum, which has an area of more than 7 million square meters. It will be one of the 44 commercial towers and 18 hotels planned for the site.