DUBAI World Africa will utilize piece of the 1 billion dollars allocated for African investments on major projects in SA, as well as development of a 30000 hectares area game set aside in Mpumalanga that the company intends to have listed as a World Heritage site.
In March, the company, which is the investment arm of the Dubai government, acquired a major shareholding in three wildlife reserves -- Shamwari Game Reserve in Eastern Cape, Sanbona Wildlife Reserve in Western Cape and Jock Safari Lodge in the Kruger National Park -- for an undisclosed amount.
Chairman Sultan Ahmed Bin Sulayem said yesterday that it would build more luxury lodges in these areas as well as a five-star hotel and 60 private apartments at Pearl Valley Golf Estate in the Cape winelands.
Dubai World was also expanding the Victoria & Alfred Waterfront in Cape Town, which was 55% complete, and would double the space available for prospective hotel, leisure and retail tenants.
The site has seven top-end hotels and a new five-star hotel is being built by Sol Kerzner's company One & Only.Sulayem was reluctant to disclose the amounts his company would spend in SA, but said the money would come from the $1bn fund earmarked for projects in Africa over the next five years, in addition to the $4bn already committed.
"Our projects for the V&A Waterfront expansion (as well as the) Pearl Valley hotel and apartments and Shamwari lodges are in the planning stages," the sultan said.
Site-enabling works for the next phase of the Waterfront expansion would start before the end of this year."Dubai World Africa's strategic investment in SA will realise the vision of creating an extraordinary big five reserve in the Barberton area of Mpumalanga, served by a luxury five-star lodge and the highest quality facilities," he said.
"Our vision is for Nkomazi game reserve to become the leading conservation initiative in southern Africa."Game fencing would be erected around the property and a detailed wildlife management plan would be drawn up with the ultimate aim of making the reserve a World Heritage site.
