Business
Hyatt Hotel Project Set to Begin After US$90 Million Deal Signed with Afreximbank, Says Businessman Mark Maloney
Hyatt Hotel project set to commence this year after deal with Afreximbank, says Mark Maloney. US$90 million investment aims for completion in 18 months amidst previous setbacks.
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Originally published by nationnews.com (opens in new tab)
The Hyatt Hotel project should start later this year, says prominent businessman Mark Maloney, following a deal signed yesterday with Afreximbank.
With the US$90 million deal, Maloney anticipates the project, once started, will be completed in 18 months.
The stalled project has been hit by one snag after the other, including a court action.
Developer Maloney joined a number of other businesspeople benefiting from loan arrangements with Afreximbank, which has the African Export-Import Bank CARICOM Office in Barbados.
The executive chairman of the Maloney Group and a major producer of cement has also linked up with Dangote Industries of Nigeria in an effort to expand that side of his business. (AC)
