Karen Harverson
Construction of the R205-million Sandton Hilton will be the first concrete result of Malaysian investment interest in South Africa.
Construction will begin at the end of the month with completion due by June 1997.
The project is a 70/30 joint
venture between Malaysian businessman Amin Shah and local consortium Team Development Concepts and will create about 1 500 jobs.
The contract for the design and construction of the hotel, which will be situated in Rivonia Road, has been awarded to Group 5 Goldstein Building.
Shah says his company, Business Focus, will be looking at other projects in South Africa and has just signed another joint venture with a black-owned steel engineering company Al Bokhary.
“The company will supply all the steel required in the construction of the hotel, using locally sourced steel,” says Shah.
Business Focus was also involved with other players in bidding for the now suspended R2-billion project to acquire four Corvettes for the South African Navy.
The company will be looking at opportunities in South Africa to invest in property, engineering, food production and agriculture.