Saudi investment firm to develop US$100 million resort in Laamu atoll
25 Feb 2014, 4:19 PM
Daniel Bosley
Saudi real estate investment and development firm Best Choice has announced plans to develop a US$100 million resort on Vadinolhu island in Laamu Atoll.
“We are negotiating with investors, and we are looking for more,” Best Choice CEO Mohamad Rabih Itani told Minivan News today.
“Our aim is to develop Vadinolhu Island as a high-end resort with world-class facilities to promote it as a complete family destination,” Itani explained in a company press release.
With headquarters in Bahrain, Best Choice – formed just last month – also has offices in Turkey and the Maldives. The company’s owners, however, have been active in the Maldives for a number of years, Mitani told Minivan.
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