SUBSIDIARY NAME
Two units of 5 STAR HOTELS
COUNTRY
NIGERIA WEST AFRICA
SECTOR/ INDUSTRY
REAL ESTATE
OWNERSHIP %
70% IIB-DG
ACQUISITION DATE
July 14, 2022
ACQUISITION VALUATION
1 BILLION
TOTAL ASSET VALUATION
10 BILLION
REAL ESTATE
Two units of 5 STAR HOTELS by NIMET (Nigeria meteorological services) acquired on July 14, 2022 for construction of 5 star hotel.
Nimet is an agency under the ministry of aviation in nigeria with land property located at the abuja international airport at the federal capital territory and at lagos beach all airmarked for building of star hotels at the cost of $500m each totaling $1b. The investor will build and operate for 30 years or more to requip his fund and handover to the agency