Newly Established Resort Seeking Loan in Malé, Maldives
3-Resort Development Project in Meemu Atoll, Maldives with a total investment of USD 159M.
Premium Plan
| Established | 0-1 year(s) |
| Employees | 2 - 5 |
| Legal Entity | Limited Liability Company (LLC) |
| Reported Sales | Nil |
| Run Rate Sales | Nil |
| EBITDA Margin | Nil |
| Industries | Resorts |
| Locations | Male |
| Local Time | 3:04 PM Indian / Maldives |
| Listed By | Business Owner / Director |
| Status | Moderately Active |
Seeking Loan
USD
159 million
for
8.0%
annual interest,
12
years
(Native Currency: USD 159,000,000)
Reason: USD 9 million is the purchase price of 50% shares of this SPV and USD 150 million will be the loan a...
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Collateral Available: USD 48 million
Includes physical assets worth
USD
48 million
Interested to connect with advisors
Documents
Summary - 3 Islands Development
(512.5 KB)
Valuation Report by ICS Maldives
(1.2 MB)
Reception (3D)
(54.9 KB)
4* - Reception (3D)
(48.6 KB)
5* - Reception (3D)
(55.4 KB)
5* - Main bar (3D)
(43.5 KB)
5* - Main Restaurant (3D)
(86.4 KB)
5*- Japanese Restaurant (3D)
(63.0 KB)
5* - Sunset Beach Restaurant (3D)
(59.9 KB)
5* - Kids Club (3D)
(55.2 KB)
Company Profile
(524.9 KB)
Registration Certificate
(342.5 KB)
Business Overview
- We are a special-purpose venture.
- The company was formed to purchase and develop the three islands into resorts.
- We need USD 150 million to complete these three resorts.
- The maximum time to complete construction will be 24 months (target 18 months)
- The site is ready for construction, permits are in place, and suppliers are in place.
- Have invested USD 12 million of our money to date.
- Project IRR of 25% and a payback period of 10 years.
- The company was formed to purchase and develop the three islands into resorts.
- We need USD 150 million to complete these three resorts.
- The maximum time to complete construction will be 24 months (target 18 months)
- The site is ready for construction, permits are in place, and suppliers are in place.
- Have invested USD 12 million of our money to date.
- Project IRR of 25% and a payback period of 10 years.
Products & Services Overview
4 Star Uthuru Boduveli.4 Star Deluxe Uthuru Gasveli.
5 Star Huraveli.
Assets Overview
The business owns the head lease of the three islands which are valued at USD 48 million. There are 46 years remaining in the head lease. It's renewable to 99 years after construction is completed.Valuation is done by an independent party and the value of the three greenfield islands together with the surrounding lagoons is USD 48 million. No independent valuation is available for the island. However, the attached document 'Valuation Report by ICS Maldives' mentions the forecasted rental income and resort income from each island.
Facilities Overview
At present, we have completed all the preliminaries needed to start the construction of the project.The islands and their sizes:
- Uthuru Boduveli is 3.6 hectares.
- Uthuru Gasveli is 0.30 hectares.
- Huraveli is 0.10 hectares.
Post-reclamation more land will be added and the total area will reach to 31.70 hectares.
Capitalization Overview
- Two owners with equal share ownership.- No debts are associated with the company.
- All funding till now has been done by the two shareholders.
- The SPV is registered in Male.
Recent Activity
-
Earlier than 15 daysSpecialist Advisor, Investment Banking, London, Individual Investor / Buyer connected with the Business
-
Earlier than 15 daysFounder, New Delhi, Financial Consultant connected with the Business
-
Earlier than 15 daysDirector, Aircraft Projects, Chicago, Corporate Investor / Buyer connected with the Business
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