Saudi firm develops $100m resort in Maldives
Riyadh, February 24, 2014
Best Choice Real Estate Development, a newly established Saudi Arabian real estate investment and development firm based in Riyadh, said it is developing $100 million Vadinolhu Island located in Laamu Atoll in the Maldives as a premier resort.
Aside from developing the isle as a tourist destination, which is expected to be ready in 2017, the developer also plans to offer investment opportunities to investors, said a statement.
The seven-hectare area will feature 100 beach villas, including water bungalows and luxury suites, besides dining services, wellness facilities and leisure activities.
Mohamad Rabih Itani, CEO, said: “The Maldives offers tremendous investment opportunities, especially in the hospitality sector as it has rapidly emerged as a destination of choice for international tourists.
"Our aim is to develop Vadinolhu Island as a high-end resort with world-class facilities to promote it as a complete family destination. We have already designed a business proposal targeting potential investors to collaborate with us in the operation and management of the resort.”
Best Choice is emerging as a property solutions provider via its strategic mix of high-end developments, market research, and professional staff. - TradeArbaia News Service