Summit Hotel Pvt Ltd to take loan of Rs three billion

KATHMANDU, August 16: Summit Hotel Pvt Ltd, which is building luxury hotels and apartments in Lalitpur, is going to take a loan of Rs three billion.

Summit Hotel Pvt Ltd is constructing a four-star hotel at Kupandol Heights. Currently, the company is preparing to build a hotel building and two residential apartments by removing the old buildings in the area.

Summit Hotel Pvt Ltd, owned by Zain Infra Builders Pvt Ltd and Chaudhary Group, is building apartment wit 116 units, including 24 luxury and 92 standard apartments. The company is preparing to raise the necessary investment for the construction of the hotel complex by selling the apartment units.

Summit Hotel Pvt Ltd has conducted a rating for a loan of Rs three billion. The rating agency has given Summit a rating of Rs 3 billion as a proposed long-term loan facility. Earlier, the company was given a rating of Rs 700 million as a short-term loan facility.