Investors have high interest in Maldives: JLL

JLL Asia Pacific Region's CEO Nihat Ercan has said that all major global brands wish to invest in Maldives and that Maldives is highly appealing to investors.

In a special interview with Mihaaru during the AHICE Maldives Hotel Investment Summit organized Australian Hotel Industry Conference and Exhibition (AHICE) and held in Crossroads earlier this month, Ercan said that Maldives is one of the easiest countries in the region to visit. He said that Maldives being a highly popular destination for tourists result in investors, too, having more interest in investing in the country.

Ercan stated that he has observed through his work in selling JLL resorts that the demand for Maldives is increasing.

"It started off with very few resorts. But now, every year, there is a lot of interest in buying many resorts. Transactions of about USD 2 billion has occurred in the Maldives," he said.

Ercan highlighted that interest in Maldives is especially observed amongst investors from Europe and the Middle East as well. He said that earlier, interest in Maldives had been mainly amongst resort developers, but this had now expanded to include various other industries as well.

"Investor demand has risen significantly after the resort lease period was raised to 99 years. There is now the opportunity for major long-term investments," he said.

Ercan maintains that if the long term future of investment in Maldives is made more clear to investors, then the interest in investment could be further increased. He said that although there are investors, there is low opportunity in Maldives to seek funds for these investments, which is an area he noted can be further developed at this time.

Resort operation in Maldives has increased on an average of 9 percent annually since 2009.

JLL has acted as a broker in the sale of over 15 resorts since 2012, with more resorts currently on offer.