Kampala, Uganda - Some 300 acres of prime land on Garuga Peninsula, on the shores of Lake Victoria in Uganda, are to be turned into an exclusive development known as Pearl Marina.

Centum Investment Company, Kenya's leading investment group, has already set aside $22 million as part of the first phase. Phase one will cost nearly $100 million and expected to be completed by 2016.

According to Centum, the site is very well located in terms of future expansion. The spine between Entebbe and Kampala is a strong growing area and the site has two kilometres of lake shore.

A background brief states that, 'The land is also accessible on water and is 10 km from Entebbe Airport (10 minutes by speed boat) and 26 km from Port Bell. The development will be an integrated waterfront, mixed use and residential address targeting a broad spectrum of the market.'

The development is envisioned to become Uganda's tourism destination of choice for both local and foreign tourists.

Centum is the largest listed investment company in East and Central Africa with over Ksh20 billion (almost $235 million) in assets under management.

Centum is also involved in sourcing for capital, investing this money and managing investment portfolios for better returns.

Centum states that the vision of the Pearl Marina development is to develop a premium world-class destination address recognized as the number one tourism destination in East Africa and beyond.

'Pearl Marina's vision is also to create a vibrant commercial environment along the water's edge.

The development should respond to the needs and desires of foreign visitors and investors and should reflect the special 'genius loci' and unique setting in the Pearl of Africa'

The development is viewed as one to give a first world experience to locals and foreigners alike.
 

Source : allafrica.com

Posted on : 30 Nov,-0001