The United Arab Emirates (UAE)-based Dutco Group of Companies reported on Sunday that it had acquired a high-end resort in the Maldives.
The new resort – which will be the group’s first outside of Dubai – will be relaunched later in the year as JA Manafaru, reported gulfnews.com.
Tourism Minister Ahmed Adeeb was reported to have expressed his hope that Dutco’s investment will be the first of many from the UAE.
“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 relaunched later in the year as JA Manafaru,” the company told gulfnews.
Tareq Baker, the chief executive of the Dutco Group of Companies told the site that the investment in the Maldives is “a 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.”
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