Dubai resort group acquires Maldives property
Dubai, April 13, 2014
UAE-based Dutco Group of Companies, the owners of JA Resorts & Hotels, has acquired a high-end resort in the Maldives.
It is the first resort that the group has purchased and will operate outside Dubai, said a statement.
Maldives Minister of Tourism Ahmed Adeeb Abdul Gafur attended the transfer of ownership of the property from Tropical Maldives to JA and stated he hoped this would be the first of many large scale investments by UAE companies in the Maldives.
The group has earmarked several million dollars to make upgrades and soft refurbishments to the resort to ensure it is able to compete with the very best that Maldives has to offer, when it is re-launched later this year as JA Manafaru, said the statement.
JA Manafaru, located in the Northern Haa Alifu Atoll of the Maldives, is located 75 minutes by seaplane from Male International Airport.
The property boasts 84 beach villas and water villas - all with private pools, eight food and beverage outlets, a spa and beauty complex, water sports and PADI dive centre, and extensive children’s entertainment area.
The all-inclusive rates, that will come into effect in October this year, will include seaplane transfers, non-motorised water sports activities, and access to the children’s care area.
Tariq Baker, CEO of the Dutco, said the investment in the Maldives in the form of JA Manafaru is part of the company’s larger expansion plan of high-end properties both within the UAE and in other markets outside of the Middle East.
“While a number of factors influenced our decision to buy this property, the purchase is dictated by our prudent growth strategy supported by the long-term strategic investment policy we have implemented in the hospitality sector which will also see us investing in new hospitality projects in Dubai," he said.
In addition to expanding operations in other global markets, JA Resorts & Hotels will also launch properties closer to home over the next 18 months with at least three new hotels planned in Dubai prior to 2020. - TradeArabia News Service
