FINANCIAL NEWS

Mubadala to co-develop Maldives resort

06 Apr 2010

(MENAFN) Mubadala Development Company said that it has partnered with Maldives-based, luxury hotel developer, EoN Resorts, to develop an exclusive ultra luxury resort in the Maldives, Gulf News reported.

The hotel will be operated by Viceroy Hotels & Resorts (VHR), of which Mubadala is a 50 percent shareholder.

Viceroy Maldives is the latest addition to Mubadala Real Estate & Hospitality’s (MREH) growing hotel development and operator portfolio and is part of its broader international strategy to actively drive the expansion of its luxury Viceroy Hotels & Resorts operator brand to key gateway cities and destinations around the world.

Viceroy Maldives is currently under construction on the pristine, crescent-shaped island of Vagaru, located in the Shaviyani Atoll, one hour north of the capital Male.

Due to open in December 2010, this exclusive, 61-key property will be the first Viceroy to open outside of the Americas and follows the recent successful launches of Viceroy Miami, Viceroy Snowmass in Colorado and Viceroy Anguilla in the Caribbean.

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