Kasada to invest in new Abidjan hotel

Kasada, a real estate private equity platform dedicated to hospitality in sub-Saharan Africa, announced that it will build a new dual-branded hotel in Abidjan within the largest retail-led mixed-use development currently being developed by HC Capital Properties (HCCP). The complex, scheduled to open in 2024, will boast over 150 hotel keys, a shopping centre with over 60 stores, restaurants, a mini entertainment park, offices, a co-working space, and a clinic.

Olivier Grant, Kasada's managing partner and CEO, said, "We are proud of bringing to Angré's district its very first international branded hotels and developing a project that will not only benefit our clients but also the local community. Through this greenfield programme in this unique location, we demonstrate once more the innovative dynamics of Kasada."

HCCP has previously successfully developed Cosmos Yopougon, a Grade A shopping center opened in 2018 in Abidjan's largest municipality, that has been the shopping centre with the highest footfall in Côte d'lvoire since 2019.

David Damiba, Kasada's managing partner and CIO added, "We look forward to the execution of this new expansion in Abidjan, a city where we have committed significant capital to date which testifies to our strong belief in the country's robust macroeconomic outlook. With this combo hotel, we are targeting the economy and extended stay segment to provide an attractive offer at the right price, in the heart of a high-density area."