Swaziland
Sector
Property
Tourism & Leisure
Swaziland offers a wealth of potential for property and land investors and two such opportunities have now opened up in the country to build a convention centre and five star hotel, and a casino and golf estate.
International Convention Centre (ICC) and 5-star Hotel
Swaziland’s tourism industry has grown rapidly to compete with neighbouring countries, however the top-end of the sector is still relatively small with only a few five star hotels.
This has been a draw back for foreign tourists desiring high quality accommodation.
Therefore the government is inviting investors to participate in establishing a 5 star hotel and an international convention centre in Ezulwini, Mbabane. The project is expected to take three years and the cost has been estimated at between $30m and $50m.
Ezulwini is a scenic valley along a tourism corridor. The area is already well-developed with a number of other major establishments in the vicinity.
Work achieved so far:
- Pre-feasibility study and business plan are in place
- Conceptual designs have been drawn
- A promotional brochure has been developed
Benefits of project to initiator: The envisaged developments will help put Swaziland on the international map as a venue for major conferences and events. It is expected to boost the tourism industry and provide job opportunities.
Sector specific incentives include local funding, 10% corporate tax, 50% initial depreciation and unlimited carry forward.
Partnership options:
- Potential investors have the option of entering into a public-private partnership (PPP) with a possible management contract on the ICC, and 100% government funding.
- Foreign investors wanting to build the 5 star hotel would have 100% ownership.
For
further information on this investment opportunity, contact the Swaziland Investment Promotion Authority (SIPA):
Name: Zizwe Vilane, Director: Foreign Direct Investment
Email: vilanez@sipa.org.sz
Tel: +268 404 0470
Summerfield Casino & Golf Estate
Summerfield exclusive resort is located in Matsapha on a 100-hectare private farm. The resort is just ten minutes from the airport and also has close to the city and the major tourist attractions. A pre-feasibility study is available for interested investors.
The project is expected to boost the tourism infrastructure, serve the growing market for golf estate living and provide job opportunities. A conference facility is currently under construction in the same location.
An investment of a minimum of US$25 million is being sought. US$10 million has already been invested so far, and the project is expected to be fully operational by 2011.
Partners: Summerfield Casino would have 51% ownership of the investment, and foreign investors the remaining 49%. The payback period is 10 years, and a minimum of 25% rate of return on capital is expected.
For further information on this investment opportunity, contact the Swaziland Investment Promotion Authority (SIPA):
Name: Zizwe Vilane, Director: Foreign Direct Investment
Email: vilanez@sipa.org.sz
Tel: +268 404 0470
