PROJECT

Projects

Summary of Investment Information

Project Number

39231

Company Name

ANANTA HOTELS AND RESORTS LIMITED

Date SPI Disclosed

May 17, 2018

Country

Bangladesh

Region

South Asia

Projected Board Date

Jul 10, 2018

Environmental Category

B - Limited

Status

Pending Approval

Last Updated Date

Jul 12, 2023

Department

Regional Industry - MAS Asia & Pac

Industry

Tourism, Retail and Property

Sector

City and Business Hotel

Project Description

   Ananta Hotel and Resorts Limited (“AHRL”, the “Company” or the “Borrower”), has undertaken to develop a greenfield mixed-use property in Dhaka, Bangladesh, consisting of: (i) a 300-room upscale business hotel; (ii) a branded residential tower with 71 units of 3-4 bedrooms each, and; (iii) a commercial building with 15 office floors and 2 retail levels (the “Project”). The proposed IFC financing package will finance the hotel and the residential tower, whereas the office and retail building will be financed by local banks with no involvement from IFC. The Project will be the first ever branded mixed-use development in Bangladesh. The hotel and the residential tower will be operated and managed by Marriott International Inc. (“Marriott”), under its “Marriott Hotel and Residences” brand.

 

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation