Chang Hua Construction of Singapore has decided to develop a 5-star hotel with 128 rooms, under the Mixed Use Development project at Rasfannu beach.
According to the company website, the 5-star hotel along with a family shopping mall will be developed in one of the four luxury towers of "Coral Boulevard", currently under construction at the western artificial beach of the capital city.
President Abdulla Yameen Abdul Gayoom had laid the foundation of Coral Boulevard in a special ceremony on Sunday night. While the Ministry of Housing and Infrastructure has announced that the four towers will have 25 - 28 storeys, it did not reveal plans for a high-end hotel.
The government is yet to make any official statements on the matter.
Regarding the project, Coral Boulevard's website states that three of the four towers will feature 549 residential units, including 350 luxury units. Eighty of the units were also opened for purchase last December, with a booking fee of MVR 150,000 which was included in the 20 percent down payment for each unit.
Coral Boulevard is to be completed by the end of 2020, as per the agreement between the government and Chang Hua Construction.
The company is also the contractor of the new state-owned, 25-storey Dharumavantha Hospital being developed near Indira Gandhi Memorial Hospital (IGMH) in Male. The project was awarded to Chang Hua in July 2017.
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