A leading Indian hotel firm, Mfar Group of Hotels will invest $150 million to develop a high end resort for well heeled tourists in Maldives.
The Mfar Group of Hotels, which has around 700 rooms altogether in India and Oman, has acquired an island for building the resort.
“We have just acquired an island measuring six hectares in land area, and we have the permission to reclaim land up to 30 hectares. We got the land on a 15-year lease from the government,” P Mohammed Ali, owner of the firm, told the Times of Oman newspaper.
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