Dubai's Rani Investment enters JV with Minor
Companies take over Indigo Bay in Mozambique and seek hotels in Africa
Dubai-based Rani Investment, the investment arm of Aujan Group Holding, has entered a long-term strategic partnership with Minor Hotel Group (MHG) for expansion in Africa.
The two organisations have formed a joint venture company for ownership of Indigo Bay Resort & Spa in Mozambique, with plans for further expansion in Africa. Located on Bazaruto Island, 30km off the east coast of the country, Indigo Bay is a five-star 44-villa resort, and will be re-branded to Anantara Bazaruto Island Resort & Spa later this year and managed by MHG.
This new addition to MHG’s portfolio takes the number of properties in operation to 94 and adds a new country of operation, taking the total to 13. It will be the first Anantara in Africa.
Together, the companies will explore more opportunities in Mozambique, in which Rani Investment is already the largest private hospitality owner-operator, and in East Africa.
These properties will be a mix of new-build and re-brand and managed by MHG under one of its brands, which include Anantara, Avani and Oaks.
CEO Rani Investment LLC Salim Bitar said: “For more than a decade, Rani Investment has recognised the major potential of Mozambique as a premium tourism destination. As we embark on the next phase of our expansion in Africa, we are delighted to be working alongside internationally recognised hospitality brands such as Minor, which will enable us to contribute to and capitalise on the success of the country’s rapidly growing economy.”
MHG CEO Dillip Rajakarier added: “We are excited to be partnering with Rani Investment and are looking forward to working closely with them to grow our portfolio in Africa, specifically in Mozambique to begin with. We are already present in Tanzania and Kenya through our partnership with Elewana Collection and we are keen to expand further into other parts of this vast continent where there is so much untapped opportunity.”