Kasada eyes Gabon hotel development with new deal

Pictured: the Baie des Rois development, Libreville, Gabon, which will house an upscale hotel.
African real estate platform Kasada Capital Management has signed a partnership agreement to develop hotels in Gabon.

The deal is with Gabonese state fund Fonds Gabonais d’Investissements Stratégiques (FGIS), its subsidiaries Façade Maritime du Champ Triomphal (FMCT), an urban development company and Luxury Green Resorts (LGR), a Gabonese tourism operator.

Identifying opportunities

Through this agreement, FGIS, FMCT, LGR and Kasada are responding to the ambition to strengthen the territory’s attractiveness and boost the Gabonese economy.

With a current portfolio of 18 hotels in eight African markets, Kasada will be involved in identifying, evaluating, structuring, and managing hotel projects in Gabon, from conception to completion. The company’s present African pipeline includes Crowne Plaza Hotel Nairobi, bringing 206 keys to the Kenyan capital in Q1 2024; a dual branded site in the Ivory coast capital, Adagio Abidjan and ibis Styles Abidjan, scheduled to complete in 2024; and the 100-room Movenpick Hotel Kacyiru arriving in Q3 2025 in Rwandan capital Kigali.

Upscale underway

Among the Gabonese projects to be analysed as part of this collaboration is an upscale hotel complex in the northern zone of the Baie des Rois development near capital city Libreville. It will address the growing needs identified in terms of urban planning, business tourism and leisure, offering innovative services to users looking for unique, local experiences. Architecturally and environmentally innovative, the hotel will feature sustainable materials, water treatment and the use of green energy in line with international standards.

Baie des Rois is part of the urban development program for the Baie des Rois Special Investment Zone (ZIS), led by FMCT. In line with the Plan d’Accélération de la Transformation (PAT), Baie des Rois aims to become a hub meeting the criteria of a sustainable, innovative, low-carbon city. Situated on Libreville’s waterfront, it will provide mixed use real estate and commercial space for local residents.

Low carbon solution

Akim Mohamed Daouda, CEO of FGIS, declared: “This project is part of our overall strategy to develop sustainable infrastructures based on the valorisation of our natural capital. The construction of an environmentally-friendly hotel complex will showcase Gabon’s low-carbon solutions.” 

Emmanuel Edane, CEO of FMCT, said: “The partnership with Kasada effectively demonstrates the investment opportunities offered by the Baie des Rois. This development zone will contribute to the economic influence and tourism growth of the Gabonese capital.” 

Setting sustainable standards

Olivier Granet and David Damiba, Kasada managing partners, commented: “We are delighted to be partnering with FGIS and its subsidiaries. The Baie des Rois is an ambitious and exciting project. It demonstrates once again our expertise and our role as preferred partner for sovereign entities to carry out complex projects. Our ability to analyse projects of this scale and our agility in terms of financial structuring, enable us to find the right solution for this flagship project in Gabon.

“Furthermore, through this project, we aim to set a new standard for sustainable development in Gabon, in line with the country’s initiatives to address climate change.”