JLL has successfully facilitated a landmark debt refinancing program for the Hilton Maldives Amingiri Resort & Spa. This initiative is expected to enhance debt financing activities in the Maldives. JLL’s teams in Singapore were involved in this transaction with an international bank, marking a significant milestone for the Maldives’ hospitality industry and reaffirming JLL’s expertise in the region.
JLL has announced a significant milestone in the Maldives hospitality sector by advising Amingiri Holdings Pvt. Ltd. on a debt refinancing program for the Hilton Maldives Amingiri Resort & Spa. This transaction not only showcases JLL’s extensive experience in the Maldives but also emphasizes its growing services in this key market. The refinancing is expected to stimulate demand for diverse international lenders in the region.
Amingiri Holdings, a subsidiary of Amin Construction Pvt. Ltd., stands among the leading real estate companies in the Maldives. JLL’s Hotels & Hospitality Group and Debt & Structured Finance teams, based in Singapore, facilitated the refinancing through an international bank that acted as the arranger for the loan.
Nihat Ercan, CEO of JLL’s Hotels & Hospitality Group in Asia Pacific, stated that this first debt refinancing deal marks a commitment to innovative investment solutions in the Maldives. Ercan noted the growing interest in diverse refinancing options tailored to fulfill market demands.
The Hilton Maldives Amingiri Resort & Spa, under Hilton Worldwide management, opened its doors in July 2022. It features 109 luxury villas situated on Amingiri Island, accessible via a 20-minute speedboat ride from Velana International Airport.
Paul Brindley, Head of Debt Advisory for Asia Pacific at JLL, emphasized that this transaction represents a landmark event for the Maldives’ hospitality industry, reflecting a growing interest in structured finance services. He believes JLL’s entry into the market will expand opportunities for financing non-traditional assets.
This refinancing agreement follows JLL’s recognition as the top advisor in Asia Pacific Hotels investment sales for 2024, as validated by MSCI Real Assets. Since entering the Maldives, JLL has advised on approximately $2.0 billion in resort transactions.
In conclusion, JLL’s advisory on the Hilton Maldives Amingiri Resort & Spa debt refinancing signifies a pivotal advancement in the Maldives hospitality market. This transaction highlights JLL’s commitment to expanding its Debt & Structured Finance capabilities in the region, potentially paving the way for increased lender diversity and structured finance interest. The successful opening of the resort has further established a solid foundation for future hospitality investments in the Maldives, reinforcing JLL’s leadership in the sector.
Original Source: www.thehotelconversation.com.au
