MTI Investment has signed a memorandum of understanding with Mayai Ocean Resort to invest up to USD 600,000 in a beachfront hotel property and USD 125,000 in a hotel management company in Zanzibar. Investors will be able to participate in the region’s growth story as the hotel is scheduled to open in mid-2023, generating a strong return on investment while contributing to the local economy.
MTI Investment has announced its expansion into the tourism industry in Zanzibar by signing a memorandum of understanding with Mayai Ocean Resort AS. The company will invest up to USD 600,000 in a beachfront hotel property and USD 125,000 in a hotel management company. The investment depends on raising funds from the TO1 warrants, offering investors a chance to be a part of the region’s growth story.
Prime Beachfront Property Investment Opportunity
In its initial phase, the waterfront property is slated to become the site of a beautiful 20-room hotel in the Bwejuu area just north of Paje beach in Zanzibar’s South District. With an impressive beach frontage of approximately 32 meters and potential for expansion, the property is an ideal investment opportunity. This investment opportunity is located in the same district as MTI Investment’s investment in Zanrec Plastics Company Ltd, highlighting the company’s commitment to the region’s development.
Aligned with Core Strategy for Sustainable Growth
MTI Investment expects operations to commence in June/July 2023, generating strong returns for investors while contributing to the region’s economic development. The investment is aligned with the company’s core strategy of identifying high-potential businesses that offer sustainable growth, cash generation, and value. The investment is expected to provide excellent returns for years to come.
Two Installments for Ownership in the Hotel and Management Company
The investment will be made in two instalments. The first instalment of USD 125,000 secures a 50% stake in the hotel management company, while a second instalment of USD 600,000 secures a 40% ownership in Mayai Ocean Resort AS. This holding company owns the hotel and land in Zanzibar. Zanrec will handle waste management, and the business is projected to create at least 32 new job opportunities.
Rune Haram, Chairman of Mayai Ocean Resort, expressed excitement for MTI Investment’s involvement in the hotel project, which is committed to sustainability, including local egg production and cleaning of beaches for plastic. MTI Investment’s CEO, Pontus Engström, expressed his admiration for Rune’s ability to manage projects in Zanzibar and dedication to doing things thoroughly.
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