Old Mutual to build four-star hotel in Victoria Falls
Business Writer
Property giant, Old Mutual Zimbabwe, through its life assurance arm, Old Mutual Life Assurance Company Zimbabwe (OMLAC), is set to construct a four-star hotel in Victoria Falls city, a Government minister revealed on Tuesday.
The deal comes as Government is working on a feasibility study for the development of bulk infrastructure in the resort city.
Victoria Falls has been designated as a Special Economic Zone, and the feasibility study will inform the viability of the proposed economic activities and infrastructure needs.
To finance and undertake the feasibility study, which will be conducted in the Masuwe Area of the Victoria Falls Economic Zone, OMLAC reportedly agreed to meet the costs amounting to US$430 948,29.