Island for sale in Maldives, Mahadhdhoo Island on the market
JLL’s Hotels & Hospitality Group has been retained by Bank of Maldives to offer for sale Mahadhdhoo Island, situated in Gaafu Alifu Atoll, the Republic of Maldives.
Nestled within the pristine waters of the Maldivian archipelago, Mahadhdhoo Island is accessible via a 45-minute flight to Kooddoo Airport, followed by a 20-minute speedboat journey. Occupying a land area of approximately 119,000 square metres, Mahadhdhoo is one of 82 islands that form the Gaafu Alifu Atoll – home to some of the most recognisable luxury and upscale resorts in the country. The project, originally planned as a 87-villa resort, presents maximum flexibility for an incoming investor to complete the full construction of the development based on their brand specifications and operational requirements. Upon acquisition of the island, the investor will also gain ownership of a direct 50-year lease agreement with the local Ministry of Tourism, which may be extended following its expiration in 2056.
Nihat Ercan, Executive Vice President, JLL Hotels & Hospitality Group, Asia Pacific said, “Mahadhdhoo Island represents an exceptional opportunity for an investor to acquire a Maldivian resort at a favourable rate. The Maldives remains a global gateway resort destination and is top of the list for buyers from Asia Pacific and the Middle East.”
JLL is seeking offers in excess of USD 300,000 for Mahadhdhoo Island. An incoming purchaser will also have the option to explore attractive financing terms that could be considered by Bank of Maldives, subject to satisfactory lender due diligence.