The Erindi Private Game Reserve has been put on the market for N$1.3 billion and its owners say that the buyer will most likely be Chinese.
The government will also consider buying the highly prized private game reserve that covers 70 719 hectares and boasts 15 000 head of game and over 300 bird species.
The majority shareholder of Erindi, Gert Joubert, announced yesterday that the entire game reserve - or a part of it - will be sold at N$20 000 per hectare.
Namibians also stand the opportunity to earn up to N$65 million in commission if they help find a buyer or partner for Erindi.
Commission of 5% will be paid to the successful agent, broker or facilitator of the transaction.
“We would prefer to sell a share of Erindi, but we cannot dictate to a buyer if he would like to buy a share (or the whole farm),” said Joubert.
He continued: “China would be a very suitable candidate.”
According to Joubert, Erindi needs to be developed to the next phase, where an emphasis is to be placed on upmarket international tourists that fly in every week, bringing between 200 and 400 visitors exclusively to Erindi.
He said China would be the rational choice as a buyer or investor.
Erindi will also be offered to government for purchase. The State would also be approached for approval to sell to other parties.
Joubert said the government is considered a natural choice for the purchase of Erindi, so it can complete its portfolio of game reserves.
He added that the government lacks a game reserve like Erindi in the central highland, which is strategically located between Windhoek and Swakopmund.
Government has been informed about the intention to sell Erindi, but Joubert said they were told they should have a purchase contract ready before the State can consider buying it.
The Minister of Environment and Tourism, Uahekua Herunga, told Namibian Sun yesterday that the ministry will consider making an offer.
“Personally I think that it will be a good opportunity to buy Erindi, but it depends on the affordability.”
When asked what he thinks about the asking price, Herunga said he is not up to date with the hectares and surface area of Erindi, and could therefore not comment.
Joubert said it was very difficult to calculate a valuation for Erindi, because there is nothing similar to compare it to.
He said recently the 13 000-hectare Mala Mala Game Reserve in South Africa was sold for nearly R1 billion to that country’s government.
“Should you compare Erindi to anything that is available in Namibia or South Africa, a price of N$20 000 per hectare sounds rather cheap.”
The government will also consider buying the highly prized private game reserve that covers 70 719 hectares and boasts 15 000 head of game and over 300 bird species.
The majority shareholder of Erindi, Gert Joubert, announced yesterday that the entire game reserve - or a part of it - will be sold at N$20 000 per hectare.
Namibians also stand the opportunity to earn up to N$65 million in commission if they help find a buyer or partner for Erindi.
Commission of 5% will be paid to the successful agent, broker or facilitator of the transaction.
“We would prefer to sell a share of Erindi, but we cannot dictate to a buyer if he would like to buy a share (or the whole farm),” said Joubert.
He continued: “China would be a very suitable candidate.”
According to Joubert, Erindi needs to be developed to the next phase, where an emphasis is to be placed on upmarket international tourists that fly in every week, bringing between 200 and 400 visitors exclusively to Erindi.
He said China would be the rational choice as a buyer or investor.
Erindi will also be offered to government for purchase. The State would also be approached for approval to sell to other parties.
Joubert said the government is considered a natural choice for the purchase of Erindi, so it can complete its portfolio of game reserves.
He added that the government lacks a game reserve like Erindi in the central highland, which is strategically located between Windhoek and Swakopmund.
Government has been informed about the intention to sell Erindi, but Joubert said they were told they should have a purchase contract ready before the State can consider buying it.
The Minister of Environment and Tourism, Uahekua Herunga, told Namibian Sun yesterday that the ministry will consider making an offer.
“Personally I think that it will be a good opportunity to buy Erindi, but it depends on the affordability.”
When asked what he thinks about the asking price, Herunga said he is not up to date with the hectares and surface area of Erindi, and could therefore not comment.
Joubert said it was very difficult to calculate a valuation for Erindi, because there is nothing similar to compare it to.
He said recently the 13 000-hectare Mala Mala Game Reserve in South Africa was sold for nearly R1 billion to that country’s government.
“Should you compare Erindi to anything that is available in Namibia or South Africa, a price of N$20 000 per hectare sounds rather cheap.”
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