Soneva Resorts sells 8 private residences in the Maldives

Soneva Resorts has sold 8 of their private residences in the Maldives.

In an interview to World Property Channel, CEO of Soneva Resorts Sonu Shivdasani said the that they have sold eight Private Residences in Maldives to date and that they will build 16 residences to add to the 50 homes owned by the hotel.

The buyers were from from Europe, Russia and Asia, Sonu Shivdasani said.

The first private residence by Soneva Resorts was purchased by a French buyer for $7 million in 2011.

The Six Senses was the first to open resort rooms and water villas in the Maldives for lease on long-term contracts. The law on long term leasing came into effect soon after Six Senses opened the offer in 2010. The law was amended to accommodate long term leasing, with a maximum lease period of 50 years.

In his interview, Sonu Shivdasani said that although the Indian Ocean is a very popular holiday destination, there are very few opportunities to buy property in the Maldives. Owning a home in the Maldives is a lifestyle purchase that also makes financial sense, he said.

Sonu Shivdasani said that they are developing a second resort in the Maldives.

Soneva has sold two properties in the Maldives, namely the Soneva Gili, sold to Singaporean company HPL Resorts and Six Senses Laamu in Olhuveli island which was purchased by American company, Pegasus Capital.