Roxy-Pacific to acquire resort property in the Maldives for US$31m
Add BT as a preferred source
Nisha Ramchandani
ROXY-PACIFIC Holdings has entered into a sale and purchase agreement to acquire the leasehold interests over the Kudafunafaru island in the Maldives for US$31 million.
The acquisition involves its subsidiary, Roxy Hotels and Resorts, obtaining - among others - the head leasehold interest in the property, together with all assets, property, rights and economic interests, Roxy-Pacific said in a release to the Singapore Exchange.
The payment will be financed by internal funds and bank borrowings, where appropriate, it said. The deal is subject to approval from the government of Maldives.
Copyright SPH Media. All rights reserved.
TRENDING NOW
How BYD disrupted Singapore’s car market – and why the strategy is turning on itself
Vietnam seeks US$76 billion a year from capital markets to ease reliance on banks
Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry
Two-thirds of Sentosa Cove resales in the red, with average loss topping S$1 million since 2023
