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Mogadishu, the capital of war-torn Somalia, is experiencing an economic renaissance
Entrepreneurs hope tourists will return to the country
Both real estate and hotel sectors are growing as well as investment optimism
The resurgence is partly boosted by a returning diaspora
Bashir Osman moves hurriedly along a white sandy beachfront, giving instructions to a driver operating a bulldozer. Near them, a large truck is ferrying away piles of rocks, clearing a sun-soaked beach lapped by the azure blue waters of the Indian Ocean.
Work here is well underway as Osman presses ahead with his new multi-million dollar project: to build a luxury beach resort in Mogadishu, the capital of war-torn Somalia.
“I knew one day that Mogadishu will become peace and we’ll get stability,” says Osman, who already owns two hotels in the city. “That is why I started to buy that land.”
After more than 20 years of violence, Somalia moved a step closer to stability last September after picking its first president elected on home soil in decades.