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Côte d'Ivoire: A new law fund for tourism and real estate

13/09/2021
Categories: Sectors

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Genesis Hospitality Immo Fund (GHIF) is the first financial vehicle under Ivorian law dedicated to the tourism and real estate sector in West Africa, with an initial target size of 10 billion FCFA. The administration of the Fund is entrusted to Ocorian, a world leader in fiduciary services and fund administration and services, based in Mauritius, which manages more than 17,000 structures on behalf of 8,000 clients worldwide.

GHIF intends to meet the strong demand for support from tourism real estate operators and the high-level residential and commercial real estate sector, but also the demand from individual and institutional investors looking for long-term diversification products. term. Focused in particular on tourist infrastructure, this fund was created by Charles Kie to respond to the problems of the industry, namely the lack of infrastructure, the limited supply of luxury hotels, a lack of quality services and the inability to satisfy a prestigious and demanding clientele. GHIF plans to invest first in a 5 star hotel in Assini which will be managed by an international chain for the moment confidential. The upscale 5 star hotel is specially designed for business and leisure travelers looking for first class accommodation.

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