Investment and employment opportunities open up in Maldives

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By 2018-01-21

Sri Lankans will be able to take advantage of lucrative investment and employment opportunities resulting from the development of the 'Crossroads' project - the Maldives' first integrated resort - according to Singha Estate PLC Chief Investments Officer Thiti Thongbenjamas, whose company is developing the project.

He made these statements at the Investment Retail Opportunity event held at the Malé National Art Gallery on 17 January in connection with the 'Crossroads' project, which is a major travel destination project in Emboodhoo Lagoon, the Maldives. The event, which brought together several international retail stores and investors, was hosted by Singha Estate PLC with support from the Maldivian Government, and saw Maldivian Minister of Economic Development Mohamed Saeed in attendance.
The 'Crossroads' project aims to redefine the Maldives' tourism experience and stimulate the country's economy, opening several avenues for investment and employment in the process. The project will bring together a combination of hotels, entertainment centres, retail stores and fine dining restaurants, with unique offerings for both foreign travellers and residents of Malé.

"We are very keen on attracting investors from Sri Lanka; both those residing in Sri Lanka as well as expatriate Sri Lankans. The proximity between the two countries is definitely an attraction, while it is very much an investment which will keep increasing in value, as the Maldives is one of the world's leading up-market tourist destinations. Sri Lankans wishing to make the short trip to the Maldives could meet with us and explore investment opportunities on a one-on-one basis," said Thongbenjamas.
He went on to say that the 'Crossroads' development would present exciting new career opportunities for Sri Lankans who are known for their proficiency in the hospitality industry.

Recent investments and business expansions have resulted in Singha Estate today commanding assets, under the operation of the company, its subsidiaries, and joint-venture companies in and outside of Thailand, in three core areas: Commercial, Residential and Leisure/Hotel properties. The company is investing in a portfolio of hospitality businesses that include two high-end luxury resorts in Thailand and 29 hotels in the United Kingdom, giving them a combined total of over 3,000 rooms.

"Singha Estate places a great emphasis on business synergy and strong asset diversification. We believe that Crossroads presents an attractive investment opportunity for local and international investors. We are a skilled and dedicated business development team with expertise in the tourism industry and service sector. Together with strategic support from the Maldivian Government, the project will open up new market segments, tapping mid-market and family with its unique selling points as the first multi-island integrated leisure and entertainment destination. All of us at Singha Estate are highly confident that this is an extremely attractive investment opportunity which will pay tremendous dividends."

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