Sale of Ifuru airport announced for USD 65m

Prospective buyers for the Ifuru Airport and city hotel have been once again announced. 

The property was announced for sale last month as well. However, no price was stipulated for the sale at the time. 

The CEO magazine reporting on the sale said that the current announcement was for USD 65 million. This includes a 50-year lease of the island of B. Funadhoo for resort development.

The Small Island Maldives Company (TSMIC) invested for the hotel in a land of 56.52 hectares. The hotel has a total of 250 beach villas with a bed capacity of 300. The hotel is also home to six restaurants and bars. 

The island of B. Funadhoo is 11.69 hectares and is to be sold along with the resort development concept in place for the island where 90 villas could be constructed. 

TSMIC is a company owned by Coastline Hotels and Resorts and currently operates Amilla Fushi resort in B. Atoll.