Lusa - Business News - Cabo Verde: New €38M, five-star hotel planned for island of Sal

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Lusa - Business News - Cabo Verde: New €38M, five-star hotel planned for island of Sal

Praia,July.28,2021(Lusa)-A private Cabo Verdean group plans to invest €38 million to set up a tourist development on the island of Sal, including a five-star 'design hotel' with 137 rooms, estimating the creation of 500 direct jobs.

According to the draft establishment agreement between Cabo Verde and Flor de Sal, the developers plan to set up the "Flor de Sal" tourism project in the city of Santa Maria in 24 months, with work beginning in six months.

The project includes a five-star 'design hotel' with 137 rooms, restaurants, pools, a spa and gym, amongst other facilities, as well as an international conference centre with an area of 1,500 square metres, spread over six floors and a total capacity for 400 places, which may also serve as a venue for cultural shows, cinema or theatre.

"The government of Cabo Verde considers the 'Flor de Sal' project to be of great value, and therefore declares it to be of exceptional interest as part of its strategy for the socio-economic development of the country, taking into account the impact it will represent in terms of investment, employment, vocational training, in the wealth it will generate, increasing the tourism offer in quality and quantity of national accommodation capacity and the diversification of the tourism offer," reads the draft agreement establishing this investment, approved by the cabinet and which gives the developers access to tax and customs benefits.

The project, according to the text of the agreement, also includes an aparthotel with 80 flats and a commercial area of 1,800 square metres, amongst other facilities, in an overall private investment of €38 million which should create around 500 jobs in the construction phase and another 500 permanent direct jobs in the operating phase.

The developers also foresee a "positive contribution" of the development to environmental sustainability, given the "extensive use of renewable energy, wind and solar thermal, and photovoltaic."

Cabo Verde received a record 819,308 tourists in 2019, 45.5% in hotels on Sal and 29.4% on Boa Vista, according to data from the Cabo Verdean National Institute of Statistics, in a sector that represents 25% of the gross domestic product (GDP) of the archipelago. Still, demand fell by about 70% in 2020 due to the Covid-19 pandemic.

Those two islands also have most of the 284 hotels that operated in Cabo Verde before the pandemic, then with an official supply on all islands exceeding 21,000 beds. With 30 hotel units, Sal had 9,571 beds, while in the 24 units in Boa Vista, there were 6,395 beds.

PVJ/ADB // ADB.

Lusa

Agency : LUSA
Date : 2021-07-29 10:01:00

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