Uganda: Aya Hotel not up for sale
Kampala — THE Aya brothers have denied reports that they are stealthily selling off their Kampala Hilton Hotel structure after failing to finish and furnish it. The group insists the hotel will be ready to receive the first guest in March 2010.
“AYA Investment Uganda Ltd has no intention of selling its hotel project at Nakasero,” said Mohammed Hamid, AYA group chairman.
According to yesterday’s Sunday Pepper, the Sudanese investors are said to be looking for somebody to buy off the 20-floor structure and the 14 acres of land at the former Uganda Television (UTV) premises.
This reportedly comes after failing to get a guarantor for the second phase of the project.
“Almost everything they published is flat wrong or a distortion of the truth,” Hamid said.
Addressing journalists yesterday at Nakasero, Hamid said $70m (sh140b) has been spent out of the $100m (sh200b) invested in the project.
“This is a private sector initiative funded from our own resources and with the support of reputable international financiers, on standard commercial terms after thorough evaluation of the viability of the project.
“There has never been any question of a government guarantee or any need for one,” said Hamid.
In 2006, the Government granted the Aya Group the land to build the five-star hotel to accommodate guests during the Commonwealth Heads of Government Meeting in November 2007.
However, the group failed to beat the deadline.