Singaporean real estate company JLL Hotels and Hospitality Group has put five islands at Crossroads Maldives up for sale.
Crossroads Maldives is a chain of islands developed by reclaiming land in the Emboodhoo Lagoon.
JLL Hotels and Hospitality states that five vacant islands at Crossroads Maldives are available for sale individually or collectively on an as-is basis, allowing full flexibility for investors to design and scope each island according to their bespoke specifications and requirements.
The company is also offering the opportunity to collaborate with the subsidiary of the vendor, Singha Estate Public Company Limited, as development partners.
Announcing the sale of the islands, JLL Hotels and Hospitality said the islands represented an exceptional opportunity for investors to acquire and develop a resort, or resorts, to their own bespoke specifications and secure a foothold in the resilient hotel market of the Maldives, one of the best performing resort markets in Asia-Pacific region throughout the COVID-19 pandemic.
JLL Hotels and Hospitality did not mention the minimum lease acquisition cost for the islands in the announcement.
The vacant islands are held under a direct head lease agreement with Tourism Ministry for a 50-year period expiring in 2066.
Crossroads Maldives encompasses a total of nine islands, 7 kilometers of coral reefs, the largest privately-owned marina, over 4,000 cubic meters of retail space, cultural center and an array of marine life activities.
It is a 15-minute speedboat ride away from Male’ City and the Velana International Airport.