FCFA 220 billion Kempinski Shekinah Palace Project: Private Equity To Chip In 55%

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FCFA 220 billion Kempinski Shekinah Palace Project: Private Equity To Chip In 55%

Douala is set to strengthen its position as a major business and tourism hub in Central Africa following the laying of the foundation stone on September 25, 2026.

30 Sep 2026 20:25

T he ceremony, presided over by Prime Minis ter, Head of Govern ment, and personal representative of the Head of State, Chief Dr Joseph Dion Ngute, marked the beginning of what is projected to be one of Cameroon’s most signifi cant private investments in the hospitality and real-es tate sectors. Developed by Al Luxury Suites (ALS) Group on a site of nearly two hec tares, the project is valued at close to FCFA 220 billion, excluding off-site infrastruc ture works. The development of the 27-storey complex will feature 214 rooms and suites, 35 serviced apartments, and approximately 17,000 square metres of Grade A office space. Restaurants, conference and meeting rooms, luxury bou tiques, an art gallery, and lei sure and fitness facilities will further broaden the project’s commercial appeal. Representing the Head of State, Prime Minister Chief Dr Joseph Dion Ngute described the five-star development as more than a hospitality project, presenting it as a strategic investment in tourism and economic transformation. In the presence of the Minister of Justice and Keeper of the Seal, Laurent Esso, and many other cabinet ministers, the PM mentioned that the project will transform the potentials of the country into productive investment that generates wealth and opportunities for the populations, reiterating that the National Development Strategy of the country assigns tourism an important place in diversifying the economy and accelerating its structural transformation. ALS GROUP Chairman and CEO Rodolphe Simo Kam similarly stressed the need for accompanying public in frastructure to ensure that the investment delivers its full economic potential. He argued that improvements in infrastructure would benefit not only the project but also Douala and the wider economy. According to the project details, 55% of financing will come from private equity contr...