President ready to relinquish stakes in Shangri-La for Addu residents

The Shangri-La Villingili resort located in Addu City can be brought into operation by giving up the government's share in the company, and the state is willing if the people of Addu City wish so, President Ibrahim Mohamed Solih said.

Speaking at a campaign rally held in Addu City, Solih said while Shangri-La earlier operated in a joint venture with the government, previous administrations had not looked into upkeep of the resort. When the state tried to reopen the resort after it had discontinued operations, it was discovered that the place was incurring millions of dollars in losses each year.