Firm set to tap into Nigeria’s real estate wealth

chika ebuzor

June 19, 2015 3:57 PM

We see a clear white space in the hospitality sector for innovative and trend-setting properties.

Emaar Hospitality Group.

Dubai’s biggest real estate outfit- Emaar Hospitality Group has revealed that it has finalised plans to invest in Nigeria’s real estate sector.

Sources say they are particularly interested in the Nigeria’s hotel and serviced residence management sector.

Inside sources say they plan to establish their exquisite five-star hotel brand, The Address Hotels + Resorts here in Nigeria.

Speaking on the decision to invest in Nigeria, Philippe Zuber-COO Emaar Hospitality Group, said “We see a clear white space in the hospitality sector for innovative and trend-setting properties, which is underlined by our expansion to Nigeria to operate hotels and serviced residences in Centenary City, Abuja.”

Adding that 'Nigeria is one of the fastest growing markets in Africa and serves as a perfect fit to complement our international expansion strategy. Abuja Centenary City offers an ideal and high-growth environment for us to establish our credentials as a premium hotel operator in the country.'

Zuber also revealed that Emaar entered into a management deal with Eagle Hills to operate The Address Centenary City, Abuja and The Address Residences Centenary City, Abuja.

Eagle Hills, is a leading private investment company based in Abu Dhabi. Their forte is to identify and develop mega city hubs and mixed-use facilities in potentially viable economies across the globe.

chika ebuzor