ZCCM Investments Holdings PLC (ZCCM-IH) is divesting from its real estate investment “due to a strategic realignment of its portfolio.”
Advertising an “investment opportunity in Rembrandt Properties Limited”, ZCCM-IH stated that it had set its focus solely on mining, energy, mining strategics, and beneficiation.
“In line with this strategic direction, ZCCM-IH is seeking potential investors interested in acquiring a 49% or 100% equity stake currently held by ZCCM-IH in the real estate investment asset- Rembrandt Properties Limited.”
The call for Expression of Interest states that Rembrandt is a 74-key boutique hotel in Lusaka’s Woodlands area. ZCCM-IH holds 49% equity interest in the property, while Urban Brands and Sims Capital jointly own 51%.
ZCCM-IH is seeking to sell its entire stake in the property, which opened to the public in June 2022.
Other than the Urban Hotel, the asset also houses FNB’s Private Banking suite.
