NIIF invests in under-construction Classic View Resort, Budhanilkantha

KATHMANDU: Nepal Infrastructure Investment Fund (NIIF), a permanent capital vehicle co-promoted by Global Equity Fund (GEF), Himalayan Life Insurance, and Himalayan Everest Insurance, and managed by GEF, has invested in the Classic View Resort.

Nestled in the hills of Budhanilkantha, Classic View Resort offers a stunning view of Shivapuri forest area and is a luxury boutique establishment.

Currently, in its final stages of construction, the resort is slated to begin soft opening operations in June 2024. This high-end resort aims to cater to a discerning segment of tourists, providing an unmatched eco-friendly boutique hotel experience amidst the picturesque beauty of Shivapuri forest.

The capital injection from NIIF is designated to speed up the construction process and incorporate elements of a luxury hotel franchise into the Classic View Resort, in line with international standards and protocols. Through this investment, NIIF aims to strengthen the tourism sector in Nepal by creating a top-tier luxury retreat destination.

Manish Thapa, Managing Director of GEF, emphasised, "This partnership embodies our dedication to promoting sustainable tourism development in Nepal. With its unrivalled location and commitment to eco-friendly luxury, Classic View Resort is set to become a leading destination for discerning travellers. Our capital infusion will not only hasten the completion of the resort but also enhance its offerings to meet international standards. We are confident that this investment will not only generate attractive returns but also significantly contribute to the growth of Nepal's tourism sector, creating enduring positive impacts on the local economy and community."