Booming Business in Maputo Brings Hotel Renovations to a High
Giant cranes tower over the Maputo skyline, helping raise up multi-story luxury hotels, office and apartment buildings between the ruins of colonial-era structures. This is tangible evidence of Mozambique’s amazing economic growth, which has averaged close to 8 percent a year for the past 14 years.
But it’s expensive to develop new property in Mozambique. Building materials must often be imported. They’re costly and hard to come by. In isolated regions, developers often have to build basic infrastructure from scratch such as drainage and water lines. It’s risky business, according to a report in AfricanBusinessMagazine.
An informal AFKInsider survey of 10 existing Maputo hotels and lodgings showed that half of them were under construction for expansion toward the end of 2014. The hotels ranged in size and scope from…