Hilton Lusaka Pyramid, a $97 million hospitality and logistics investment backed by Asmara Holdings, is 75% complete, with finishing and other work targeting December 2026 for completion in Zambia as the 211-room hotel eyes a 2027 opening.

The International Finance Corporation (IFC) committed up to $50 million in financing for the wider project, which combines the Hilton-branded hotel in Lusaka with a grain-storage and logistics facility in Djibouti. The two projects have a combined estimated cost of $97 million.

Hilton Lusaka Pyramid nears completion

The hotel, being developed on Thabo Mbeki Road in Lusaka’s Sunningdale district, is about 75% complete, according to the latest IFC environmental and social review information cited by the company. Remaining work is largely focused on finishing and furniture installation.

The development is expected to be completed by December 2026 before opening to guests in 2027. Hilton Lusaka Pyramid will feature 211 rooms and suites, multiple dining outlets, an executive lounge, fitness centre, spa and outdoor swimming pools. It will also provide more than 4,000 square metres of meeting and event space, including a ballroom and 11 meeting and board rooms.

Located close to embassies, ministries and commercial districts, the hotel will also provide access to Kenneth Kaunda International Airport.

Asmara Holdings anchors $97 million investment

The Lusaka hotel is being developed by Zebra Manufacturing Zambia Limited, a subsidiary of Dubai-based Asmara Holdings. Zebra Manufacturing is jointly owned by Yemane Berhe Weldeslassie and Daniel Berhe Weldeslassie.

The second component of the IFC-backed investment is a grain-storage and logistics facility in Djibouti’s Damerjog Industrial Development Free Trade Zone. The project is being developed by Future Africa International Trading FZE, which is wholly owned by Daniel Berhe Weldeslassie.

The proposed IFC financing remains tied to the wider project rather than representing direct investment by Hilton in the hotel asset.

Hilton expands African footprint

The Lusaka development forms part of Hilton’s broader expansion across Africa. The hospitality group said it signed a record 29 deals across 15 African countries in 2025 and plans to open more than 100 hotels across the continent, with its African portfolio expected to exceed 180 hotels trading and in the pipeline.

The expansion is expected to create more than 20,000 jobs. Gianni Malerba, vice president of hospitality and asset development at Asmara Holdings, recently said the Hilton Lusaka Pyramid is “rising,” reiterating its 211-key capacity and 2027 opening.

With construction advancing toward its planned December completion, Hilton Lusaka Pyramid is set to add a major internationally branded hotel to Lusaka’s growing hospitality and business infrastructure.