Historic first – JA Manafaru signals the first ever investment in leisure property in the Maldives by a Middle Eastern group.
Dubai, UAE: The acquisition by the UAE-based Dutco Group of Companies –owners of JA Resorts & Hotels – of a high-end resort in the Maldives is a historical landmark not just for JA, as this is the first resort that they have purchased and operate outside Dubai, but also for the UAE as this is the first hospitality investment in the Maldives by a UAE company.
The importance of this investment was not lost on the Minister of Tourism for the Maldives, Ahmed Adeeb Abdul Gafur, who attended the formal transfer of ownership of the property from Tropical Maldives to JA and stated he hoped this would be the first of many large scale investments by UAE companies in the Maldives.
The investment does not just end with the purchase of the Resort as JA Resorts & Hotels have also earmarked several million dollars to making several upgrades and soft refurbishments to the Resort to ensure it is able to compete with the very best that the Maldives has to offer when it is re-launched later in the year as JA Manafaru.
Tariq Baker, the CEO of the Dutco Group commented that the investment in the Maldives in the form of JA Manafaru is part of the company’s larger expansion plan of high-end properties both within the UAE and in other markets outside of the Middle East.
“While a number of factors influenced our decision to buy this property, the purchase is dictated by our prudent growth strategy supported by the long-term strategic investment policy we have implemented in the hospitality sector which will also see us investing in new hospitality projects in Dubai”
“Dutco has year on year maintained stable financial growth in a constantly changing economy. This success and the positive financial returns generated by JA Resorts & Hotels, has positioned the Group very well to explore new ventures in foreign leisure markets,” Mr. Baker added.
In addition to expanding operations in other global markets, JA Resorts & Hotels will be announcing the launch of properties closer to home over the next 18 months with at least three new hotels planned in Dubai prior to 2020.
The introduction of JA Manafaru to its current portfolio of leisure properties, cements a strong foundation for this robust expansion strategy.
JA Manafaru, located in the Northern Haa Alifu Atoll of the Maldives, is located 75 minutes by seaplane from Male International Airport. The property boasts 84 keys consisting of beach villas and water villas all with private pools, eight food and beverage outlets, a spa and beauty complex, water sports and PADI dive centre, and extensive children’s entertainment area. The all-inclusive rates, that will come into effect in October this year, will include seaplane transfers, non-motorised water sports activities, and access to the children’s care area.
JA Resorts & Hotels is an international hospitality company based in Dubai, with over 30 years’ experience in managing and operating resorts and hotels. Its present portfolio includes the all-suite five-star JA Palm Tree Court and four-star JA Jebel Ali Beach Hotel within the award-winning JA Jebel Ali Golf Resort. On ‘The Walk’ in Dubai Marina are the four-star JA Ocean View Hotel and the deluxe hotel apartments of JA Oasis Beach Tower. The company also manages the stunning Enchanted Island Resort in the Seychelles, featuring just ten exclusive pool villas.