Ifuru airport and resort to be sold for USD 65 million

Ifuru Airport | photo: The CEO Magazine

R.Ifuru, Maldives – The Small Maldives Island Co has announced to sell Ifuru Airport and the resort developed on the island for the price of USD 65 million.

The first announcements for the sale of the airport and resort was made back in May of this year. According to ‘The CEO Magazine’, the developed airport in Raa atoll Ifuru which is currently run by Island Aviation and a hotel along with the 11.69 hectare island in Baa Atoll, Funadhoo will be sold for a period of 50 years on a lease agreement.

Ifuru City Hotel is a resort developed and invested in by The Small Maldives Island Company (TSMIC) and is built over a land of 56.2 Hectares. This includes 150 beach villas and a bed capacity of 300 beds. In addition to this, 6 restaurants and bars are also included.

TSMIC, which is the resort management company of Coastline Hotels and Resorts as well the company operating Amilla Fushi has sold high standard resorts in the past as well.