Billionaire Ong sells Maldives island
The hotel brands managed by HPL Hotels & Resorts include Concorde Hotels, Hard Rock Hotels, The Boutique Collection and Gili Lankanfushi Maldives.
By
Aishath Fareeha Abdulla
Singapore-based billionaire Ong Beng Seng's company has sold out V. Fohtheyobodufushi, which had been leased to develop a tourist resort.
The tourism ministry issued a notification on Thursday to clarify whether there was any debt before transferring the ownership of the island following the sale.
If there is any debt or problem with respect to the island, the tourism ministry should be informed within two weeks, the announcement said. It was not immediately clear to whom the island had been sold.
Amid a vast beautiful lagoon, the long island has been leased out:
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For 50 years to Leisure Beach Pvt Ltd
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The island was leased on August 20, 2014
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The island was leased out for USD 5 million
HPL Resorts Maldives Private Limited, which owns Leisure Beach Private Limited, is a hotel chain owned by billionaire Ong, who was born in Malaysia but is settled in Singapore. Ong, who is also the Managing Director of HPLRM, already operates high-end resorts of various brands in the Maldives.
The hotel brands managed by HPL Hotels & Resorts include Concorde Hotels, Hard Rock Hotels, The Boutique Collection and Gili Lankanfushi Maldives, a luxury eco-friendly resort in the Maldives.
Ong is one of the business partners of Mohammed Waheeduddin, founder of Bandos Resort.
