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Old July 9th, 2008, 11:50 PM   #1
Die Kapenaar
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BEIRA | Hotel Beira | Luxury resort hotel



Current Edition » Projects Update

Beira luxury hotel development, Mozambique

By: Sheila Barradas
Published: 21 Mar 08 - 0:00

Name and location
Beira luxury hotel development, Mozambique.

Project description
The Don Carlos and Estoril hotel sites, located on a 300 000-m2 plot of land, with 1,5 km of beachfront, in Beira, Mozambique, are to be demolished and developed into a luxury hotel. The hotel will feature conference facilities, a training centre, a retail mall, offices and logistics units.

Value
Not stated.

Duration
Not stated.

Breakdown of main contracts
Not stated.

Client
The project is being developed by LonZim, which has been established for the principal purpose of making investments in Zimbabwe and in the Beira Corridor, in Mozambique.

Latest developments
None stated.

Participants
None stated.

Construction materials
Not stated.

On budget and on time?
Not stated.

Contact details for project information
LonZim investor enquiries,
tel +44 20 7743 6670 or
fax +44 20 7743 6671.

Edited by: Creamer Media Reporter
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Old July 9th, 2008, 11:52 PM   #2
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Lonhro's Zim-investment arm buys stake in property firm

By: Mariaan Olivier

Published: 20 Feb 08 - 11:54

Zimbwean investment company LonZim, a Lonhro subsidiary, has bought a 79% stake in Aldeamento Turistico de Macuti (ATdeM) for $4,25-million.

ATdeM owned the Estoril hotel sites on a 300 000-m2 plot of land, including 1,5 km of beachfront, in central Beira on the Mozambique coast.

LonZim said that it planned to demolish the two existing hotel properties and develop a luxury hotel on the site, to be operated and managed by an entity owned by Lonrho plc.

The remaining 21 % shareholding in ATdeM is owned by the Mozambican government through an investment fund, and by the Beira municipality.

LonZim also agreed to meet the costs, up to a maximum of $1,5-million of arrears, penalties and charges which were historically outstanding and payable to the Mozambican government in relation to the site.

LonZim executive chairperson David Lenigas commented that Beira had always been seen as a region that would recover rapidly when Zimbabwe's economy turned.

"This location, in central Beira, was historically very active when Zimbabwe had a thriving economy. It is clear that the Beira region will again become fundamental for servicing Zimbabwe's demands for accommodation, office space and services. This is enhanced by the strength and stability of the Mozambican economy and the economic growth that is occurring within the Beira region of Mozambique," he said.

Edited by: Mariaan Olivier
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Old July 9th, 2008, 11:55 PM   #3
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Posted to the web on: 21 February 2008

LonZim to develop new luxury hotel in Beira

Sarah Hudleston

Business Day Correspondent

TWO of Beira’s landmark hotels, Estoril and the Don Carlos, will be demolished to make way for a luxury hotel development, in line with plans by LonZim.

LonZim, a division of Lonrho, which mainly makes investments in Zimbabwe and the Beira corridor in Mozambique, has acquired a 79% shareholding in Aldeamento Turístico de Macuti (ATdeM).
ATdeM owns the historic Don Carlos and the Estoril hotel sites on a 3-million-square-metre plot of land, including 1,5km of beachfront, in central Beira .
A new LonZim entity will operate and manage the new hotel, which will have conference facilities, a training centre, a retail mall, offices and logistics units. The site is already zoned for commercial development purposes.
The acquisition cost of the 79% shareholding in ATdeM was $4,25m. LonZim funded this out of its cash reserves. The remaining 21% shareholding in ATdeM is held by the Mozambican government (11,4%) through Igepe, the government investment fund, and by the Beira municipality (9,6%).
LonZim has also agreed to repay $1,5m in arrears, penalties and charges that were outstanding and payable to the government in relation to the site.
“This is an excellent investment opportunity for LonZim,” said LonZim executive chairman David Lenigas.
“Beira has always been seen by the company as a region that will recover rapidly when Zimbabwe’s economy picks up.
“This location, in central Beira, was historically very active when Zimbabwe had a thriving economy. It is clear that the Beira region will once again become fundamental for servicing Zimbabwe’s demands for accommodation, office space and services.”
Lenigas said the move to redevelop the site was also promising due to growth occurring in the Beira region of Mozambique.
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Old July 10th, 2008, 02:38 AM   #4
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RNS Number:3454O
LonZim PLC
20 February 2008

20th February 2008

LONZIM Plc


LonZim acquires strategic Don Carlos and Estoril Hotel
development sites in Beira




LonZim Plc ("LonZim" or the "Company"), which has been established for the
principal purpose of making investments in Zimbabwe and the Beira corridor in
Mozambique, today announces that it has acquired a 79 per cent. shareholding in
Aldeamento Turistico de Macuti, SARL. ("ATdeM"). ATdeM owns the historic Don
Carlos and the Estoril hotel sites on a 300,000 m2 plot of land, including 1.5
km of beach front, in central Beira on the Mozambique coast (the "Site").

LonZim plans to demolish the two existing hotel properties and develop a luxury
hotel on the Site, to be operated and managed by an entity owned by Lonrho plc.
This luxury hotel will have conference facilities, a training centre, retail
mall, offices and logistics units. The Site is already zoned for commercial
development purposes.

Beira is described as the 'coast of Zimbabwe' and is the main supply route from
the sea to Zimbabwe. As a result, LonZim sees strategic investments in support
services in Beira as inextricably linked and crucial to the recovery of Zimbabwe
and its economy.

The acquisition cost of the 79 per cent. shareholding in ATdeM was US$4,250,000.
LonZim has funded this out of its cash resources. The remaining 21 per cent.
shareholding in ATdeM is owned (i) as to 11.4 per cent. by the Mozambican
Government through IGEPE, the Government investment fund, and (ii) as to 9.6 per
cent by the Beira Municipality. ATdeM holds no assets other than the Site and
has never traded.

LonZim has also agreed to meet the costs, up to a maximum of US$1,500,000, of
arrears, penalties and charges which are historically outstanding and payable to
the Mozambican Government in relation to the Site.

David Lenigas, Executive Chairman of LonZim commented :

"This is an excellent investment opportunity for LonZim. Beira has always been
seen by the Company as a region that will recover rapidly when Zimbabwe's
economy turns. This location, in central Beira, was historically very active
when Zimbabwe had a thriving economy. It is clear that the Beira region will
again become fundamental for servicing Zimbabwe's demands for accommodation,
office space and services.

This is enhanced by the strength and stability of the Mozambican economy and the
economic growth that is occurring within the Beira region of Mozambique.

This acquisition further endorses LonZim's focus on identifying investment
opportunities, both in Zimbabwe and Beira, that will position the Company to
become a major participant in infrastructure, industrial, support and transport
sectors as the Zimbabwe economy recovers."
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Old July 10th, 2008, 03:52 AM   #5
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nice news
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Old July 11th, 2008, 07:13 PM   #6
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Very nice... i hope Angola and Mozambique join hands and work together
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Old December 4th, 2008, 01:03 AM   #7
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LonZim

3. Beira Hotels:

On 20 February, LonZim announced that it had acquired a
79% shareholding in a company that owns the historic Don Carlos and the
Estoril hotel sites on a 30 hectare site. The site includes 1.5km of beach
front and is located in central Beira on the Mozambique coast. The cost of
the 79% was US$4.25m with an agreement to meet outstanding liabilities up
to a maximum of US$1.5m. The remaining 21% shareholding is owned by
the Mozambican Government (through IGEPE, the Government investment
fund) and the Beira Municipality. LonZim plans to demolish the two existing
hotel properties and develop a luxury hotel on the site, to be operated and
managed by the hotels division of Lonrho plc. It is anticipated that this stage
will costs in the region of $35m and LonZim has already had expressions of
interest for debt financing from African banks.

For more information on LonZim, we wrote a note on the fund “Darkest
Before Dawn” which was published on 11 April 2008.

Page 21 | Lonrho | 24 July 2008
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Old March 2nd, 2012, 01:18 PM   #8
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Does anyone know anything about this project? Is there any kind of news about it, after more than 3 years?
I don't doubt that this could be a great project for Beira, but Hotel Estoril is one of the most remarkable buildings in MZ, nevertheless it's current condition. I'd prefer a solution where they could keep it...
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Old March 4th, 2012, 08:17 PM   #9
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Nope.
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