KATHMANDU, APRIL 29: Australia’s Expert Group is set to embark on its first venture into Nepal by establishing a luxury resort along the Rara Lake area located in the Mugu district of the Karnali province.
The agreement in this regard was inked between the Group and Rara Holdings in the presence of Culture, Tourism, and Civil Aviation Minister, Hit Bahadur Tamang, and Secretary Deepak Kafle today during the 3rd Nepal Investment Summit in the capital.
Representatives from the Group, Badri Aryal, Sanjiv Sharma, and Abhishek Bikram Shah from Rara Holdings, formalized the deal.
The initial phase will witness an investment of approximately Rs 700 million for the luxury resort to be spread across 80 ropanis of land in the Chhayanath Rara Municipality.
Shah of Rara Holdings emphasized the resort’s commitment to eco-friendly Nepalese design, incorporating local culture while leveraging locally available resources.
Perched at an altitude of 3,700 meters above sea level, the resort promises breathtaking views of the Rara Lake and its environs.
“This pioneering project marks the inception of luxury tourism in the Karnali province. The construction is on the brink of commencement, and we aim to complete it within the next 18 months,” Shah stated. The second phase of the project will have an additional investment of Rs 400 million.
With investments spanning education and hydropower in both Australia and Nepal, Expert Group’s foray into the tourism sector signifies its expanding portfolio and commitment to Nepal’s burgeoning tourism industry, it is said.
