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SINGAPORE

JLL appointed to lead sale of Maavelavaru Island Resort Maldives


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Singapore, 15 February 2016 – Maavelavaru, one of the largest and most recognised islands’ in the Maldives will be offered for sale later this month. JLL Hotels & Hospitality Group has been exclusively instructed by Mauritius Commercial Bank Ltd to market this landmark asset through an international expression of interest campaign closing Tuesday 12 April 2016.


Occupying a registered site of approximately 434,000 square metres, the substantially completed resort offers 114 oversized ultra-luxurious villas as well as a range of dining, leisure and spa options that has the ability to be operational within a 12 month time period.  


Located in the pristine Noonu Atoll, the resort is accessible via a 50 minute scenic seaplane or 10 minute speedboat ride from Ifuru Airport. Noonu Atoll is one of the country’s most pristine and captivating atolls and home to a number of the most luxurious resorts in the Maldives including Velaa Private Island and Cheval Blanc Randheli. 


Aaron Desange, Senior Vice President, JLL Hotels & Hospitality Group, Asia, said, “Maavelavaru Island Resort offers an incoming purchaser the rare opportunity to acquire a unique property unencumbered by management. It offers an incoming purchaser the ability to either owner-operate the resort or align themselves with a luxury operator not currently represented in the Maldives.”


Mr Desange continued, “We are expecting to receive strong interest in this sale from across the region and a number of groups have been eyeing off this opportunity for some time. Parties have already started to approach JLL to discuss the sale and preliminary conversations have commenced with parties from South East Asia, China and the United Arab Emirates.”


Nihat Ercan, Executive Vice President, JLL Hotels & Hospitality Group Asia, said, “With its investor-friendly policies and robust trading fundamentals, we are seeing a surge in investor interest in Maldives resort assets. More broadly we are predicting that 2016 will be a big year for hotel transactions in the Indian Ocean region.” 


For further information please contact the marketing agents – Aaron Desange (+65 8798 6720 / aaron.desange@ap.jll.com) or Nihat Ercan (+65 8322 8348 / nihat.ercan@ap.jll.com).



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Notes to Editors:


JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totalling more than $68 billion worldwide. 


Between negotiating the world’s most extraordinary, enticing, and profitable property deals, the group’s 350-strong global team also closed more than 4,400 advisory, valuation and asset management assignments. 


Investors worldwide turn to JLL to shape their strategies, tailor their portfolios and maximize the value of their assets. We are recognized as the global leader in real estate services across hospitality properties of all shapes and sizes. Our expert advice is backed by industry-leading research.


We apply our broad spectrum of hotel valuation, brokerage, asset management and consultancy services through every phase of the hotel lifecycle. We have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world. 


Whether you are looking for a hotel or you're ready to sell, we'll use our capital markets expertise, hospitality industry knowledge and global relationships to put the right parties together and execute a bespoke deal that exceeds your objectives.


To find out more, talk to JLL.