Real-estate transactions completed by JLL Hotels and Hospitality Group has reached a whopping 1.1 billion dollars in the Maldives.
This has been Maldives tourism and hospitality industry’s most zestful year as more than $450 million worth of transactions were either completed or under progress on resort affairs alone, according to JLL.
Generally dominated by Asian investors, Maldives is currently drawing new sources of cross-border capital from Europe and the U.S. In the past six months, investments from new sources of capital constituted to US$300 million.
Managing Director and Head of Investment Sales of JLL, Mr Nihat Ercan says “The tightening of yields in core markets across the globe, particularly in Europe, is causing investors to look further afield in search of higher yielding opportunities. Our clients outside of Asia are starting to show increasing interest in the Maldives, given its reputation as a sought-after tourist destination. We’re confident that investor demand will continue to rise and lift market sentiment”.
The blooming tourism sector of the Maldives thrives, as the first quarter of 2019 experiences a 15 percent year-on-year increase in visitor arrivals, most of whom hail from European countries. Furthermore, the number of tourists from India and the US have also increased drastically.
In 2019, JLL has actively participated in two transactions. Namely, the recent sale of Finolhu Maldives to Seaside Hotels and Resorts and the sale of Conrad Maldives Rangali Island resort to Blackstone, the American investment firm earlier this year.
JLL is a professional services firm that specializes in real estate and investment management. Since 2012, they have acted as a broker in selling 15 resorts in the Maldives.
