Crossroads’ parent company JLL Hotels and Hospitality Group has announced the sale of five islands.
JLL Hotels and Hospitality said that five undeveloped islands at Crossroads Maldives are available for sale individually or collectively, with freedom for investors to design and develop each island according to their requirements. Moreover, investors can partner with its subsidiary, Singha Estate Public Company Limited to develop these islands.
JLL Hotels and Hospitality also assured that the islands provide an exceptional opportunity for investors to acquire and develop a resort, or resorts, booming hospitality market of the Maldives which is the world’s leading destination for the second year in a row and continues to be resilient in a pandemic world.
The acquisition cost of these islands was not mentioned in their announcement though it’s been held under a direct lease agreement with the Tourism Ministry for 50 years.
Crossroads Maldives included a total of nine islands to be developed for Maldives’ first integrated tourism development project. Currently, Saii Lagoon, Hard Rock Hotel, and the Marina are already in operation.
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