The Gambia Government has signed a $100M (D5.1 billion) deal with Immoland Sarl, a Senegalese real estate company, to finance, build and operate a five-star hotel in The Gambia for the 2022 OIC summit.

The deal was signed on Monday at the Sir Dawda Kairaba Jawara conference hall.

Abdoulaye Thiam, chairman of Immoland Sarl, said his decision to invest in the Gambia came after meeting President Barrow in Saudi Arabia in May 2019. 

Mr Thiam said: “This investment is based on the spirit of creating and promoting inter-African cooperation, especially between Senegal and Gambia. 

“It is my strong belief that we Africans should begin to promote trade and investments among ourselves instead of always depending on the foreign sources.”

Vice President Dr. Isatou Touray said the hotel will provide excellent accommodation for OIC heads of state and delegates during the summit as well as enhance The Gambia’s tourism potentials.

VP Touray said the project marks the strengthening of south-south cooperation and bilateral ties between the countries to “stimulate inclusive socio-economic development of our peoples.”

“However, given the short period of time available before the summit, I implore both parties to this agreement to immediately set to work and ensure smooth and timely implementation of this agreement. 

The concessionaire (Immoland Sarl) has the capacity to develop the proposed 5-star hotel.”

Yankuba Dibba, OIC Gambia CEO, described the project as a “win-win partnership” and called for greater collaboration between concerned stakeholders to ensure the project is implemented within the expected timelines.

Tourism Minister Hamat Bah said: “everybody in government is committed to deliver” to ensure the country successfully hosts the summit. 

He said the project is the “biggest private sector investment in Gambia’s tourism industry” which took two years to negotiate.  

“Therefore, the onus is on the contractor to prove himself with the task that he has undertaken. This is a government of action and when we say something, we mean it,” he added.