Centara signs management deal for another Maldives resort 

The agreement was signed in Thailand by Centara, Muthaafushi Orient Investments and Well Land Investment.
Currently Centara Hotels & Resorts already owns two properties in Maldives and will manage two others, including Centara Grand Muthaafushi Resort & Spa Maldives.
Centara Grand Muthaafushi is a new five-star resort in the southwestern portion of Baa Atoll. The resort is expected to have a soft opening in the fourth quarter of 2018 and its grand opening in 2019.
The resort will comprise 24 land villas and 77 water villas. There will be an array of international restaurants including an underwater restaurant, as well as a floating cinema, a dedicated Thai spa, a fitness centre, and other facilities.
Thirayuth Chirathivat, chief executive officer of Centara Hotels & Resorts, has said that this expansion of the business in Maldives is in line with Centara’s growth strategy to strengthen its international presence, including in South Asia.
Avista Asset Management, a Singaporean real-estate-asset management company, identified potential joint-venture partners, leading to the teaming up of Muthaafushi Orient Investments, China Orient Asset Management (International) Holding and Centara Hotels & Resorts.
Avista Asset Management |has been appointed as the |development and asset manager for this project by Muthaafushi Orient Investments. Avista says |it will continue to work closely with all the stakeholders in the project.
Centara Hotels & Resorts is Thailand’s leading hotel operator, with a total of 67 deluxe and first-class properties, 44 of which are in major domestic tourist destinations, and 23 in prominent international destinations, including Maldives, Vietnam, Sri Lanka, China, Oman, Qatar and the United Arab Emirates.
Muthaafushi Orient Investments is a subsidiary of Antrac Holding in Maldives. Antrac Holding is the country’s leading marine-service provider, handling more than 90 per cent of foreign freighters, cruise ships, luxury yachts, naval ships, research ships, and survey vessels in Maldives.
The company is also one of the leading freight-forwarding, local transportation and international trading companies in Maldives.