Dubai World eyes Zimbabwe game park

Rebecca Bundhun

• Last Updated: May 03. 2009 8:52PM UAE / May 3. 2009 4:52PM GMT

Dubai World is investing in a game park in Zimbabwe as part of its expansion plans in Africa.

The investment follows Dubai World’s acquisition of major stakes in three game reserves in South Africa, part of a push by the government-owned company to expand its African presence.

Sultan bin Sulayem, the chairman of Dubai World, said its Africa subsidiary was investing “in game parks both in Zimbabwe as well as in South Africa”.
“The game parks are basically nature reserves. Part of it is the social responsibility that we feel towards being in a country, but also part of it is investment,” Mr bin Sulayem said yesterday at the Arabian Hotel Investment Conference in Dubai.
A company official said the project in question was the Bubye Reserve Zimbabwe, according to Reuters.

Investor interest in Zimbabwe has grown since a power-sharing government was formed in February between Robert Mugabe, the president, and the former opposition leader Morgan Tsvangirai. But the country is still subject to US and EU sanctions.
“Africa is a very interesting place,” said Mr bin Sulayem. “It is a place where you can see growth. In Africa, you will see double-digit growth. Africa is virgin, Africa has so much charm, nature. This is something that we know we can add value to.”

He said Africa’s “scenery would fit” the One&Only brand, through which Nakheel Hotels opened its first resort in South Africa, in Cape Town last month.

Dubai World and its divisions – including Nakheel Hotels, Leisurecorp, Dubai World Africa and DP World – have a number of investments in Africa. In February, Nakheel opened a second phase of Djibouti’s first five-star hotel, the Djibouti Palace Kempinski, which it said had shown excellent returns since its opening in 2006.

Dubai World has invested more than US$800 million (Dh2.93 trillion) in projects in Djibouti. Last year, Dubai World bought a 50 per cent interest in the Kruger National Park concession owned by Singita Game Reserves.

rbundhun@thenational.ae