Angsana Velavaru

  • Property Details
  • Overview
Property Details [  –  ]
Number of Guest Rooms 79 Beachfront Villas, 34 InOcean Villas
Number of F&B Outlets Three restaurants and two bars comprising Kaani Restaurant, Funa Restaurant, Castaway Island Dining, Azzurro Bar and Kuredi Bar
Other facilities Angsana Spa & Gallery, extensive recreational activities, Marine Conservation Lab, PADI 5 Star Gold Palm Dive Centre, Kids Club, Wedding Pavilion
Land area 67,717 sq m
Title 50-year leasehold interest commencing from 26 August 1997
Purchase price at 31 January 2013 US$71.0 million
Valuation (1) as at 31 December 2018 US$57.0 million
Master Lease Details [  –  ]
Master lessee Maldives Bay Pvt Ltd, a subsidiary of Banyan Tree Holdings Limited
Term of lease 10 years from 1 February 2013
Minimum rental income Minimum rent of US$6.0 million per year guaranteed by master lessee / Banyan Tree Holdings Limited, subject to maximum rent reserve of US$6.0 million for the lease term
FY 2018 Key Financials [  –  ]
Rental income S$8.1 million (2)
(US$6.0 million)
Net property income S$7.1 million (2)
(US$5.3 million)
Average occupancy rate 44.2%
  • (1)The property was valued by CBRE Pte. Ltd. using a combination of the Capitalisation and Discounted Cash Flow approaches.
  • (2)Based on the average exchange rate of US$1.00 = S$1.3482.

Velavaru Island, South Nilandhe Atoll, Republic of Maldives

  • Guest Room

    Guest Rooms

  • Land Area

    67,717 sq m
    Land Area

  • In Valuation

    US$57 million
    In Valuation

Maldives is a nation of coral islands scattered across the Indian Ocean, consisting 26 natural atolls with over 1,100 islands. Maldives' tropical climate, white beaches, rich marine environment, "one-island-one-resort" concept and ease of accessibility from Europe, the Middle East and Asia have firmly established the island paradise as a top-tier destination for luxury tourism.

The property is located at the southern edge of Maldives archipelago in the South Nilandhe Atoll. It occupies the island of Velavaru, one of the more intimate lagoons in Maldives. The Angsana Velavaru resort is a 40-minute scenic seaplane ride from Malé International Airport. It comprises 79 Beachfront villas and 34 InOcean villas, providing guests the opportunity to enjoy two distinct experiences at one resort. To strengthen Angsana Velavaru’s product offering and market positioning, refurbishment works are being planned.

Offering Maldivian resort styles, Angsana Velavaru is positioned for romantic vacations and family and group getaways. Angsana Velavaru is the first resort to introduce the concept of standalone water villas, which are exclusively positioned at the edge of the reef about one kilometre away from the main island. Facilities within the resort include three restaurants, two bars, a private picnic island, an award-winning spa, cooking classes, lifestyle gallery, a marine conservation lab, water sports and dive center and kids’ club.

Notable accolades include:

  • Luxury Travel Guide Spa & Wellness Awards 2018
  • Southern China Extreme Tourism Awards 2017 by Guangzhou Daily – Favorite Island Hotel Resort
  • Destination Reader’s Choice Awards 2017 – Top 10 Best Hotel in Maldives
  • Gold Circle Award 2015
  • Best Luxury Beauty Spa – Winner 2013 – World Luxury

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