UAE’s Emirates Stallions Group announces $65.3mln hospitality development in Sudan

Project marks IHC unit’s entry into Sudanese hospitality real estate sector

UAE’s Emirates Stallions Group, a subsidiary of Abu Dhabi’s International Holding Company (IHC), is set to build a hospitality development in Sudan for 240 million dirhams ($65.3 million).

The 16-floor hotel and residences project, which will feature 300 hotel rooms and apartments, is in partnership with DAL Group, the largest private sector conglomerate in Sudan, according to a statement to the Abu Dhabi Securities Exchange (ADX).

The project is ESG’s first hospitality development in Sudan and is expected to create hundreds of hospitality-related jobs for the local market.

“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.

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“While this is our first hospitality development in Sudan, we have completed similar projects in Africa and Europe over the years.”

The project 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.

 

 

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