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Qatar Acquires 17 Hotels in 8 African Countries

  • Publish date: Monday، 18 July 2022
Qatar Acquires 17 Hotels in 8 African Countries
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The website "voyages-d-affaires" published a report in which it emphasized the great Qatari interest in investing in the continent of Africa, in various sectors, especially hospitality, which is one of the areas that Doha intends to double its projects in the south and west of the continent, Whether it was directly through the Qatar Investment Authority, or the Cassada Holding Group, which is the main arm of the expanding operations in Africa for the Qatar Sovereign Fund, which during the last stage was able to complete many deals in many countries, in the context of contributing to the realization of Qatar Vision 2030. Based mainly on diversifying sources of income and enhancing the financial imports of the State of Qatar, which are mainly based on the export of liquefied natural gas, stressing the positivity of these projects in support of the hospitality sector in Africa.

The report revealed that Qatar, relying on the Cassada Holding Group, succeeded in the last stage in owning 17 hotels in eight countries, which played a major role in reviving the hospitality sector in these countries, led by the Ivory Coast, Cameroon, and Rwanda, noting that the next destination for Qatari projects in this field will be Nigeria, Which will certainly enhance the size of the Qatari presence in Africa during the next stage, based on the statements of Mr. Olivier Granib, CEO of Casada Holding Group, in which he praised the Qatari success in completing many deals at the African level in the past few years, pointing to the role of These projects contribute to the advancement of the hotel sector within the African continent.

Granib added that Casada Holding Group, owned by the Qatar Investment Authority, will not stop there, but will certainly seek to expand further in Africa by seeking to own more hotels, praising the great opportunities offered by this sector in Africa, which would encourage the Qatar Sovereign Fund to think about acquiring new hospitality headquarters during the coming period.

The report showed the importance of Qatari projects for the hospitality sector in Africa, thanks to their contribution to increasing the quality of the continent’s recently acquired hotels, by working to expand and then develop them in terms of furniture and services provided, in addition to running them according to the latest methods adopted in these days at the international level

The report indicated that the Cassada Group's approach to these countries did not come out of nowhere, but rather was the result of an effective study that touched on all the positive aspects of this sector in African countries, and its potential for growth during the next stage, as tourism is one of the most vital sectors in the West African region, representing 10% And 8% and 7% of the GDP there, Which makes it one of the main pillars in the economic development of these countries, pointing out that the target sample of Casada’s bid for this deal is the category of businessmen who will head to the West African region in the coming period, after the gradual opening of the global economy after the beginning of the outbreak of the emerging Coronavirus crisis.