Kathmandu: Australian investment has made its mark in the Rara Lake region, hailed as Nepal’s premier tourist destination and often referred to as the “queen of heaven.”

Australia’s Expert Group is set to embark on its first venture into the area with plans to establish a luxury resort in Rara.

The agreement, inked in the presence of Culture, Tourism, and Civil Aviation Minister Hit Bahadur Tamang and Secretary Deepak Kafle at the 3rd Nepal Investment Summit, marks a significant milestone in the region’s tourism development.

Representatives from Expert Group, Badri Aryal, and Sanjiv Sharma, alongside Abhishek Bikram Shah from Rara Holdings Pvt Ltd, formalized the agreement.

The initial phase will witness an investment of approximately 70 crore rupees for the luxury resort spread across 80 ropani in Chhayanath Rara Municipality, Mugu.

Shah of Rara Holdings emphasized the resort’s commitment to eco-friendly Nepalese design, incorporating local culture while leveraging locally available resources.

Perched at an altitude of 3,700 meters above sea level, the resort promises breathtaking views of Rara Lake and its environs.

“This pioneering project marks the inception of luxury tourism in Karnali province. Construction is on the brink of commencement, and we aim to complete it within the next 18 months,” Shah stated.

The second phase of the project will witness an additional investment of 40 crore rupees.

With investments spanning education and hydropower in both Australia and Nepal, Expert Group’s foray into the tourism sector signifies its expanding portfolio and commitment to Nepal’s burgeoning tourism industry.