Resort Investment Opportunity in Malé, Maldives

- This is a resort-like beach hotel, that had an 80% occupancy rate pre-Covid.

- Covid has impacted the run rate sales of the business.

- The property value is USD 9 million. The land is leased from the government.

- There are 16 rooms in the facility and we have approved plans to expand it to 44 rooms.

- We are selling an 80% stake in the company.

- The board has decided to sell this stake at half the price as the business has been impacted due to Covid, and funds are required for other businesses of Nazaki Group.

The facility has an area of 60,000 sq ft of leased tourism land on the best beach in Laamu Atoll, Gan Islands, Mukurimagu ward called Baywatch Beach. The Hotel has 16 rooms, a kitchen, a restaurant, a lobby, stores, beach beds, and space garden vegetation.

Physical assets include furniture and building interiors. The value of these physical assets is high, but we have valued them at half the price since the business was impacted due to Covid.

The facility has 12 rooms 4 stars on each floor 6 rooms, two floors and 4 rooms of 3-star accommodation. Lease tourism land from the government remaining 35 years and can be extendable another 54 years with very low lease rental.

The hotel doesn't have any loans or debts. It was funded by the shareholder and directors. The business has 2 shareholders with 80% and 20% stakes.