Harare, Zimbabwe, sells part of Harare Gardens to African Sun

Crowne Plaza Monomotapa Hotel

In Zimbabwe, the Harare City Council has resolved to sell part of the Harare Gardens to African Sun Limited for a planned hotel expansion. African Sun Limited said it would spend $25 million to expand the Crowne Plaza Monomotapa Hotel.

The resolution, which has reportedly been on the agenda for more than four months, had to be decided by a vote because some councillors argued that the park could not be sold to a private developer. The land will be sold at $80 per square acre, bringing $1.76 million to the council. The expansion is expected to be completed in 18 months.

“If we really want Harare to be a world-class city by 2025, we will only have less than 10 buildings left by then. Most buildings will not survive the status. We need such kind of development,” mayor Bernard Manyenyeni said at the time of the vote. 

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

Suggested Articles

Pebblebrook Hotel Trust plans on selling the 137-room Kimpton Rouge Hotel in Washington, D.C. in the third quarter of 2019.

The combined company, which will retain the Caesars name, will comprise 60 properties and more than 50,000 guestrooms.

Ahead of the Annual Hotel Conference, Simon French, chief economist at U.K. merchant bank Panmure Gordon, talked Brexit and the U.K.'s future.