SINGAPORE, 6 May 2021: JLL announced Wednesday that it concluded the first hotel transaction in the Maldives since 2019 involving Sun Resorts’ sale of its 80-villa five-star Kanuhura Maldives resort.
The landmark transaction reinforces the confidence in the Maldives hospitality market, according to JLL. The deal follows a thorough sales and advisory process that started in 2019 took more than two years to complete.
Kanuhura is located across three islands in the northeastern portion of Lhaviyani Atoll. The resort is approximately 35 minutes from Velana International Airport by seaplane and is poised to benefit from enhanced accessibility through a new nearby domestic airport expected to open in the medium-term, as well as development potential to expand the resort’s inventory.
“This is a landmark transaction that solidifies the positive long-term view of the Maldives hospitality space. This sale process has continued throughout COVID-19 and reinforces the importance of staying close to clients, delivering the right advice, and our team’s ability to work together as one unit for the benefit of a transaction,” said JLL Hotels & Hospitality Group head of investment sales, Asia PacificNihat Ercan
Kanuhura Maldives re-opened in December 2017 after an extensive refurbishment.
(Source: News JLL)
