Govt hands over share transfer docs to reopen Shangri-La resort in Addu

President Ibrahim Mohamed Solih said on Saturday that the documents required to release 30% of the government's stake in Shangri-La's Villingili Resort have been handed over to the company that runs the resort.

Speaking at a ceremony held in Maradhoo to launch the land reclamation project in Addu, President Solih said that he was ready to remove any obstacles to the sustainable operation of Shangri-La. Maintaining the government's stake in Shangri-La would not be a hindrance in restarting operations of the resort, he said.

"On March 18, the government shared the share transfer documents with the company. Once that is done, the necessary changes will be made and Shangri-La will be reopened," the president said.

The closure of Shangri-La Resort in 2020 due to Covid-19 has led to the loss of jobs for many of its workers. Many residents of Addu have expressed concern over the fact that the resort has not opened for a long time.

In January, President Solih said that Shangri-La's Villingili Resort will reopen in August or September.

The government has decided to give up its 30% stake in Addu Investments Private Limited, which operates the resort.

Credible sources earlier told Atoll Times that Reollo, which operates several resorts as well as Manta Air and Dh. Kudahuvadhoo airport, have agreed to buy the resort.

Shangri-La's Villingi Resort: