Shangri-La’s Villingili Resort and Spa, one of the most luxurious hotel brand located in Addu atoll, has been listed for sale.
The resort’s 70% majority shareholder, Addu Investment Private Limited has appointed the American commercial real estate and investment firm, CBRE Group as an agent for the sale of the Shangri-La brand’s only property in the Maldives. CBRE has opened for investors to submit their Expression of Interest (EOI) proposals, starting from the 7th of June, 2022. Remaining 30% shares of Villingili resort are government-owned, and discussions are underway to sell the government-owned shares as well.
Villingili Resort and Spa by Shangri-La is an upmarket tourist destination located in the southernmost Addu City and is just five minutes away from Gan International Airport by speedboat. It is a fifty-hectare large resort with an award-winning spa, luscious tropical beauty, 3 restaurants and 3 bars, and boasts of the only nine-hole golf course in the Maldives. The luxury resort shut down indefinitely during the COVID-19 pandemic, suffering huge losses due to global travel and health restrictions.