THAI hotel chain Dusit International has bought a partially-completed five-star resort in the Maldives.
The property, located on Mudhdhoo Island in Baa Atoll, is 80 per cent complete, and consists of 100 villas, one spa building, and three restaurants and bars.
In a filing to the Stock Exchange of Thailand, Dusit revealed that it would pay US$60 million for leasehold rights for 33 years until 2044.
Dusit expects to invest another US$17 million to complete the resort and cover pre-opening expenses.
The company added that it was looking for a co-investor, but that Dusit would keep hold of at least 50 per cent equity.
