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Contracts exchanged for sale of luxury Maldives island resort Six Senses Laamu at USD70 million

SINGAPORE, 3 September 2013 – Jones Lang LaSalle’s Hotels & Hospitality Group has advised Olhuveli Laamu Holdings Pvt Ltd on the USD70 million sale of the 97-villa luxury Six Senses Laamu resort in the Maldives to Leisure Frontiers Limited, a subsidiary of Singapore-based Hotel Properties Limited. Six Senses Hotels, Resorts & Spas will continue to manage the resort.

Six Senses Laamu comprises 70 over-water villas and 27 beachfront villas, supported by a wide range of world-class amenities and facilities. The resort is set within Laamu Atoll to the south of the Maldives archipelago, in one of the few undiscovered and virtually untouched lagoons in the tropical island paradise of the Maldives.

Nihat Ercan, Senior Vice President, Investment Sales Asia, Hotels & Hospitality, Jones Lang LaSalle said, “The Maldives is one of the world’s strongest gateway resort destinations and has had a phenomenal first half of the year, with visitor arrivals up 17% over the same period last year. Average room rates in the Maldives significantly outpace all other resort markets and a continued positive outlook has the island nation firmly on investors’ radar, in particular amongst purchasers from Asia and the Middle East.”

Scott Hetherington, CEO Asia of Jones Lang LaSalle’s Hotels & Hospitality Group said, “Six Senses Laamu will be Jones Lang LaSalle’s fourth transaction in the Maldives and sixth in the Indian Ocean over the past two years, bringing the total transaction volume overseen by the Group in the Indian Ocean to more than USD350 million.”

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About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $46.3 billion of real estate assets under management.
Jones Lang LaSalle has over 50 years of experience in Asia Pacific, with over 26,100 employees operating in 79 offices in 14 countries across the region. The firm was named ‘Best Property Consultancy’ in nine Asia Pacific countries at the International Property Awards Asia Pacific 2012, in association with HSBC, and was named the number one real estate advisory firm in Asia Pacific in the Euromoney Real Estate Awards 2012.
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