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Luxury Maldives resort sold to Singapore-based Hospitality Trust for USD59.6 million

​SINGAPORE, 04 December 2013 - Jones Lang LaSalle’s Hotels & Hospitality Group has exchanged contracts for the sale of Jumeirah Dhevanafushi in the Maldives to Singapore-based CDL Hospitality Trusts for USD 59.6 million.

Jumeirah Dhevanafushi is one of the Maldives’ most luxurious and highly-rated resorts, comprising 19 beach villas and 16 over-water villas. The sale includes the benefit of a long-term management agreement with Jumeirah Hotels & Resorts, one of the world’s most recognized hotel brands with a collection of iconic hotels such as the Burj Al Arab in Dubai.

The sale marks CDL Hospitality Trusts’ second acquisition in the Maldives during 2013 and follows their purchase of the Angsana Velavaru earlier in the year in a transaction also brokered by Jones Lang LaSalle’s Hotels & Hospitality Group.

Nihat Ercan, Senior Vice President Investment Sales Asia, Jones Lang LaSalle, Hotels & Hospitality Group said: “We are delighted to announce this landmark sale, the first arm’s length third-party managed resort sale in the Maldives and the second acquisition in the country by a major regional institutional investor during 2013.

“With sound trading fundamentals and enduring strength of visitor demand, the Maldives has certainly captured the attention of the investment community across Asia and the Middle East. We are seeing significant interest and weight of capital from private investors, owner-operators, listed companies and institutional investors, and we expect this trend to continue into 2014 as further opportunities in this unique market unfold.”

Since 2012, Jones Lang LaSalle’s Hotels & Hospitality Group has exclusively brokered five resort transactions in the Maldives, representing over 350 rooms and more than USD 330 million in transaction volume, underscoring the island-paradise destination as one of the most liquid investment markets in Asia.

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Notes to editors:

For more information about investment opportunities in the Maldives, please contact Jones Lang LaSalle’s Hotels and Hospitality Group.
Jumeirah Dhevanafushi -  Johara Pool Sunset.jpg

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 $46.7 billion of real estate assets under management.

Jones Lang LaSalle has over 50 years of experience in Asia Pacific, with over 26, 700 employees operating in 80 offices in 14 countries across the region. The firm was named ‘Best Property Consultancy’ in three Asia Pacific countries at the International Property Awards Asia Pacific 2013, and won nine Asia Pacific awards in the Euromoney Real Estate Awards 2013. 
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