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AGA KHAN TO INVEST $18m IN NILE HOTEL - 2003-11-24

Date: 
Monday, 2003, November 24
Location: 

KAMPALA: Serena Hotels a company owned by Aga Khan is investing US$19m in rebuilding of Nile Hotel International. The Privatisation Unit (PU) on Friday opened the financial bid from Serena Hotels.'The management is providing a commitment fee of $1.2m and will be paying four percent of the rental income every year which ranges between $ 238,000 and $554,000,' the PU director, Michael Opagi, said during the function held at Communications House.

person_place_reference: 
H.H. Prince Karim Aga Khan IV
person_place_reference: 
Serena Hotels


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Aga Khan to Invest $19m in Nile Hotel - AGA KHAN TO INVEST $18m IN NILE HOTEL - 2003-11-24

Source: 
allafrica.com/stories/200311240840.html New Vision

Serena Hotels a company owned by Aga Khan is investing US$19m in rebuilding of Nile Hotel International.
The Privatisation Unit (PU) on Friday opened the financial bid from Serena Hotels.

'The management is providing a commitment fee of $1.2m and will be paying four percent of the rental income every year which ranges between $ 238,000 and $554,000,' the PU director, Michael Opagi, said during the function held at Communications House.

He said the company is also providing $3m performance bond issued by Barclays Bank of Kenya.

All Related Articles

News ArticleAga Khan to Invest $19m in Nile Hotel - AGA KHAN TO INVEST $18m IN NILE HOTEL - 2003-11-24 allafrica.com/stories/200311240840.html New Vision

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