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The lure of white sand beaches, turquoise lagoons

Singapore groups are major investors in Maldives resorts; JLL Hotels & Hospitality Group launches EOI for foreclosure sale of Maavelavaru Island Resort

Aerial view of Maavelavaru Island Resort. It is understood that the borrower, a company controlled by a Maldivian developer, has injected over US$100 million in the development to date. Work began around 2008/2009 but stalled in 2011. The 114-unit resort was due to open this year.


SINCE the start of this year, at least two Singapore-based groups have acquired resorts on the Maldives, shrugging off concerns about the impact of global warming and rising sea levels on the country, which is made up of 26 low-lying atolls in the Indian Ocean.