Name of Project: Establishment of International Convention Centre (ICC) and 5 star Hotel
Cost of investment: The ICC and hotel is estimated to cost between $30m and $50m.
Implementation period: Three years (3)
Operational date: at end of 3 years
Work achieved so far
• Pre-feasibility study and business plan are in place
• Conceptual designs have been drawn
• A promotional brochure has been developed
Project site location: Ezulwini, Mbabane
Site characteristics: Ezulwini is a scenic valley along a tourism corridor. The area is well developed with other major establishments in the vicinity.
Basic infrastructure: Available land
Sector overview: Swaziland’s tourism industry is growing rapidly to compete with neighbouring countries. Currently there are only a few five star hotels. This has been a draw back for foreign tourists desiring high quality accomodation. Investors are invited to participate in establishing a 5 star hotel and a international convention centre.
Benefits of project to initiator: The envisaged developments will help put Swaziland on the international map as a venue for major conferences and events. It is expected to boost the tourism industry and provide job opportunities.
Local market: Only one company is currently operating in this
field.
Sector specific incentives include local funding, 10% corporate tax, 50% initial depreciation and unlimited carry forward.
Partnership options
• Potential investors have the option of entering into a public-private partnership (PPP) with a possible management contract on the ICC, and 100% government funding.
• Foreign investors wanting to build the 5 star hotel would have 100% ownership.
This project is co-ordianted by Project Millennium Unit (PMU) and Swaziland Investment Promotion Authority (SIPA).
For further information on this investment opportunity, contact SIPA.
Contact person: Zizwe Vilane
Director: Foreign Direct Investment
e-mail: vilanez@sipa.org.sz
