Government says the construction of about K60 million Hotel by ZCCM-Investment Holdings in partnership with Urban Hotel Group and SIMS Capital will create employment and business opportunities for Zambians.
Speaking at the ground-breaking ceremony for the Hotel, Minister of Tourism and Arts Charles Banda says the facility has created 150 jobs at construction level and about 150 direct jobs will be created once the project is completed.
Mr Banda says Zambia possesses huge potential in tourism.
He adds that more hotel facilities capacity for the industry is necessary.
He says the facility will also uplift the face on Lusaka city once completed.
Mr Banda was speaking in a speech read on his behalf by Ministry of Tourism and Arts Permanent Secretary Howard Sikwela.
And speaking at the same event ZCCM Investment Holdings Acting Chief Executive Office Mabvuto Chipata says the hotel under construction adds a portfolio of commercial and residential properties that the company has.
Mr Chipata says the company’s investment in the real estate sector is aimed at diversifying the company’s portfolio.
He says the investment is also in line with the company’s strategic plan for 2018 to 2023 which provides the thrust for ZCCM-IH to achieve full potential in returning value to its stakeholders both from the exciting portfolio and new investments
Mr Chipata says the facility will add to the list of properties that are already generating income for the company.
He says ZCCM-IH intends to maintain and revamp some of the properties it benefited from after privatization.
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