Kathmandu: A new five-star hotel is set to rise in Siddharthanagar, with Emerald Palace Company moving ahead with plans to develop a premium hospitality project in the area. The hotel will feature 109 rooms and is being designed as a full-service luxury destination.
The property will include high-end amenities, including banquet halls, a swimming pool, a casino, a spa, a gym, and business facilities. Spread across approximately 96,686 square feet, the hotel will also house two conference halls and two business centres, catering to both leisure and corporate guests.
Registered in 2020, the company estimates the project’s total investment at around Rs 2 billion. The financing structure is planned in an 80:20 ratio, with 80 percent debt and 20 percent equity. So far, Rs 50 million in equity has been secured, and the project has achieved about 11 percent financial progress.
The company aims to complete construction and begin commercial operations by July 2029. On the financing side, Rs 190 million in debt arrangements have already been secured, while construction expenditure is expected to reach Rs 223 million by July 2025.
Strategically located about 22 kilometres from Lumbini and just 6 kilometers from the Sunauli border, the hotel is expected to primarily serve religious and spiritual tourists visiting the region.
The company, chaired by Yogesh Ghimire, has sought a long-term loan rating of Rs 1.6 billion, an increase from its earlier rating of Rs 1 billion. Ghimire brings over two decades of business experience to the project, which is positioned to capitalize on the growing tourism potential of the Lumbini corridor.
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