Roxy Hotels & Resorts acquires Kudafunafaru resort

Kuda-Funafaru – Roxy-Pacific Holdings Ltd of Singaproe has agreed for the acquisition of the leasehold interests of Kudafunafaru resort (currently operated as Zitahli Kuda-Funafaru Resort & Spa) situated at Noonu Atoll in Maldives. The total purchase value for the property is USD 31 million.

The acquisition involves its subsidiary, Roxy Hotels and Resorts, obtaining the head leasehold interest in the property, together with all assets, property, rights and economic interests, Roxy-Pacific said in a release to the Singapore Exchange.

Kudafunafaru resort comprises 50 villas (30 over-water villas and 20 beach villas), four food and beverage outlets, a full-service spa, an ocean-front fresh water infinity pool, a Werner Lau Diving Centre, a fitness centre with full-sized tennis court and a luxury boutique.

Roxy-Pacific Holdings Ltd is a listed company on the Singapore Exchange, principally engaged in property development. The group’s hotel ownership and property investments include Grand Mercure Roxy Hotel and other investment properties through Roxy Hotels and Resorts.

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