Grit Real Estate buys Club Med resort in Senegal
As part of the agreement, Club Med will renovate part of the hotel and expand it at a development cost of between €25m and €28m
24 July 2019 - 14:32
Grit Real Estate Income Group, which owns properties across Africa, has agreed to buy a hotel at a Senegalese Club Med resort for about €11.6m (R180m).
“The acquisition is expected to enable Grit to enter, in a targeted manner, the property market of the Republic of Senegal — one of Africa’s most stable countries with a large and high growth economy,” Grit said on Wednesday...
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