DUBAI, UNITED ARAB EMIRATES - Barrows, the provider of hotel investment and advisory services for hotels in the Middle East and Africa, advises West African developer Atalian in raising financing for a high exclusive hotel resort in Mauritius called Lagoon Gardens.
Barrows will raise the funding within its institutional and banking network combined with a registered bond structure with the developer. Both parties are focused on large-scale hotel and retail development. Both parties have signed into a capital acquisition agreement for the realization of this project. The total asset value of the deal is 95 million USD.
In addition to advising and raising capital, Barrows will advise in contracting a 5 star hotel operator to operate the hotel activities for Lagoon gardens. As soon as all agreements are signed and the capital has been provided, the construction period will start, says Chairman Erwin Jager of Barrows Hotel Enterprises.
After the World Pandemic, this is a unique opportunity for many 5 star hotel operators to enter the West African continent and establish themselves in a very modern and unique environment focused on tourism and business. Growth and location value are very important factors here. West Africa is growing strongly and in the coming decades West Africa will develop more and more within the global trade.
Barrows Hotel Enterprises internationally manages over 10,000 hotel rooms in more than 10 countries. The company started in 2008 as a real estate investor in the residential market in Dubai. Since 2012, Barrows has changed its strategy and the company is fully focused on the fast-growing hotel industry in the Middle East. Since 2020 Barrows is active in the entire MENA Region including West Africa.