Finolhu resort developed by Coastline Hotels and Resorts Pvt. Ltd in Baa Atoll has been sold for USD 90 million.
JLL, who acted as an intermediary, sold the resort to German Seaside Hotels and Resort company last April.
This is the first time that JLL has acted as intermediary to sell a Maldivian resort to European company. It acted as the intermediary in the sale of Rangali resort - managed by Hilton World Wide Holdings - to American company, Blackstone, last February.
Finolhu was previously managed by Small Maldives Island Company.
The resort both beach and water villas. There are villas with one room, two rooms and villas with private swimming pools.
Finolhu has a total of seven different types of villas.