Hulhumalé City Hotel operations handed over to private company

Housing Development Corporation (HDC) handed over the operations of Hulhumalé City Hotel to a private company established specifically to manage the hotel.

In a statement, HDC said the hotel's construction has been completed and that an MoU was signed with World of Business Pvt Ltd to run the establishment.

According to HDC, the hotel building also includes a section dedicated to government offices.

It was also revealed that World of Business would take over the operations after entering a settlement agreement with State Trading Organisation (STO), which was originally contracted for the role.

The city hotel will house a media village, a youth center (e-sports), a heritage college and a medical college in the area (3.5 floors space) reserved for government purposes, HDC said. These spaces would be completed within four months after operations commence, the state owned company also said.

The remaining area of the hotel would be dedicated to a five star, 158 room hotel, which would be completed within nine months.

“This building will be developed with the latest facilities and quality services in line with President Dr. Mohamed Muizzu's pledge to develop a good hotel in Hulhumalé for tourists to transit while visiting Maldives,” HDC said in its statement.

The hotel will be called the Manhattan Grand Hotel, the company revealed.

World of Business will operate the hotel with 50 percent foreign investment, with funding from UAE-based Deep Seafood Company.

Maldives' business registry shows that World of Business was registered during February this year.