Yacht Tours Maldives Pvt Ltd is to develop Kuda Rah island in South Ari atoll into a five-star resort.
The company’s chairman Mr. Abdulla Jabir says that Yacht Tours has been able to secure an Rf100 million (about US$7.7 million) loan from Pakistan’s Habib Bank branch in Maldives. The loan has to be repaid over a period of five years.
Yacht Tours plans to expand the resort’s bed capacity from 60 to 100 when it becomes operational in December, according to Jabir. The island is located in one of the most established tourism zones in the Maldives archipelago.
Yacht Tours was established in 1995 and is focused on the development and exploration of tourism-related business.
“Yacht Tours Maldives aims to take the Maldivian tourism product into a further dimension, adding excitement and new directions to create greater demand and customer satisfaction through innovative concepts with local expertise and creative services,” the company says on its website.