SON'INVEST is a Public Limited Company with Board of Directors which focuses mainly on fund management. Its purpose is:
- To call for funds in order to make investments and finance domestic private investments
- To manage funds, domestic or international, of any kind
- To acquire, manage and dispose all investments, founder’s shares and all shares in the capital of all corporations or future corporation, by subscription, purchase, exchange, sale or otherwise;
- To subscribe to the issue of bonds, convertible into shares or not;
-To agree upon all advances to the companies of which it is a shareholder or partner, in the form of current accounts
- To grant any subsidy to any company or group in which the Company has invested.
To summarize all industrials, commercials, civil, securities or real estate activities may be attached directly or indirectly to the corporate purpose or to any similar or related object.
In September 2007, the Government of Madagascar contracted a loan from Exim Bank China to finance the construction of Hotel 5 Stars of Ivato and the International Conference Center.
The work done (construction, equipment and hotel equipment) by a Chinese company was completed in the middle of 2009, but the hotel never worked. Only the Ivato Conference Center had already begun shooting by hosting the various workshops and economic events.
The hotel has 221 rooms with two presidential suites and parking for 130 cars. The 27,000-square-meter, 24-storey building will be ranked five-star in Madagascar and the largest hotel brand in terms of size. With its 89 m height, the hotel is the second most High in Madagascar.
In January 2009, the Government signed contracts with the Starwood Group to operate the 5-Star Hotel under the Sheraton brand. Given the political and economic situation of the time, and the significant discrepancy between the characteristics of the hotel delivered and the requirements of the Sheraton brand, the Government preferred to put the project on hold.
In 2015, the Government took the decision to restart the project to support economic recovery, promote tourism and strengthen structures to international standards.
In addition to the need to upgrade to Sheraton standards, important work on building and safety is absolutely necessary during the diagnosis.
In March 2016, in order to give shape to this project of national interest, SONAPAR invested in SONINVEST, a company with public participation.
SON'INVEST's mission is to provide long-term support for companies and projects that will shape the Malagasy economy.
SON'INVEST aims to promote investment operations of economic and social interest in the industrial, agricultural, commercial and financial sectors, as well as in the services and hospitality sectors.
The revitalization of the the 5-star hotel of Ivato, which is a decisive action that can truly contribute to the vitality of the sector, providing jobs and wealth, is in line with the mission of SON'INVEST, hence its interest to lead the project .
The American group Starwood Hotels, through its brand Sheraton, will bring its technical expertise in the management of the 5-star hotel of Ivato thus renovated.