Sun's Nigerian expansion on track
Sun took over management of the property - in which the group has a 49 per cent interest - on Lagos’ Victoria Island in October last year and outlined plans to spend us$ 150 million upgrading it.
The first phase included a us$ 10 million refurbishment of the Federal Palace Hotel, one of two hotels on the property. In the next phase of the program, the property’s second hotel, the 14-storey Federal Palace Towers Hotel, will undergo extensive refurbishment.
Plans include building a casino linking the two hotels.
Construction is expected to begin in January and completion is likely in December 2010. Before work begins on phase two, the hotel group will build a temporary casino within the Federal Palace Hotel, with work expected to begin this month and the opening set for January next year.
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