The government of Maldives officially transferred the thirty-percent stake held by the state in the Shangri-La Villingili Resort and Spa on Monday.
The hotel which was operated in Addu City before the Covid-19 health emergency was a major employer in that part of the country.
President Ibrahim Mohamed Solih promised the residents of the city on June 3, that he would transfer the state’s share in the operating company of the resort to the company to contribute to the smooth reopening of the resort.
The government of the Maldives held a 30-percent share in Addu Investment Private Limited which operated the resort.
The transfer documents were signed by the Permanent Secretary of the Ministry of Tourism Fathimath Nilfa and the General Affairs Director of Addu Investment Private Limited Saud Abdullah.
The Minister of Tourism Abdulla Mausoom after the signing of the transfer agreement told reporters that the government would assist in every possible way for the resort’s reopening as early as possible.
The hotel which was operated in Addu City before the Covid-19 health emergency was a major employer in that part of the country.
President Ibrahim Mohamed Solih promised the residents of the city on June 3, that he would transfer the state’s share in the operating company of the resort to the company to contribute to the smooth reopening of the resort.
The government of the Maldives held a 30-percent share in Addu Investment Private Limited which operated the resort.
The transfer documents were signed by the Permanent Secretary of the Ministry of Tourism Fathimath Nilfa and the General Affairs Director of Addu Investment Private Limited Saud Abdullah.
The Minister of Tourism Abdulla Mausoom after the signing of the transfer agreement told reporters that the government would assist in every possible way for the resort’s reopening as early as possible.
