Emirates Stallions Group (ESG), a diversified investment, engineering, and construction services business owned by International Holding Company (IHC) and DAL Group, the largest private-sector conglomerate in Sudan, formed a joint venture (JV) to build a hotel in central Khartoum, within the wider Al Mogran Development.
As part of the $65 million worth project, ESG will develop a 16-storey hotel and residences, which will comprise 300 hotels and apartment keys. The project is the main part of the mixed-use development that further consists of recreational areas, retail, entertainment, restaurants, and cafes. The hotel itself will have three restaurants, conference and meeting rooms, a fitness center and an outdoor swimming pool located on the rooftop.
Al Mogran Development, launched in 2005, will cover an area of over 7 million square meters and will cost more than $4 billion, making it the most ambitious real-estate scheme ever undertaken in the country, with plots for 44 commercial towers, 18 hotels and 700 apartments.
Phase 2 of the development will be residential and cover an area of more than 6 million square meters, including 650 villas, more than 7,000 apartments, an 18-hole golf course and more than 70,000 square meters of retail space.
“This is an exciting project that is going to serve as a cornerstone asset for growing and enhancing the group’s exposure to unserved promising markets in the region. We have excellent credentials and experience in developing hotels, and while this is our first hospitality development in Sudan, we have completed similar projects in Africa and Europe over the years. Moreover, we are pleased to have DAL Group as a partner in this project which will help and support the creation of hundreds of hospitality-related jobs for the local market.”
Mr. Osama Daoud Abdellatif, Chairman of DAL Group, added, “We are continuing to grow our partnership with IHC and its subsidiaries, expanding across different verticals. In this instance, we wanted to collaborate with a hospitality development company that had deep expertise in building hotels in emerging markets. ESG fits that profile, and we look forward to working together to transform downtown Khartoum with this project.”
Emirates Stallions Group, founded in 2005, has grown rapidly as a business dedicated to construction, development, and management of the real estate, as well as a service provider. The company, which is present in 20 markets, had assets of $151 million as of the end of the first half of 2021 and over 3,000 employees.