Maldives government has signed a memorandum of understanding (MoU) with Qatar's Katara Hospitality to develop hospitality and real estate projects in the island state of Maldives.
The MoU was signed by Maldives Tourism Minister Ahmed Adeeb during the ongoing official visit to Qatar and Sheikh Nawaf bin Jassim bin Jabor Al Thani, Chairman of Katara Hospitality.
The government of Maldives is offering Katara Hospitality the opportunity to develop hospitality or real estate projects in one of three premium locations, all within a 20- to 30-minute speed boat ride of the international airport in the country, Qatar’s The Peninsula reported.
“Katara Hospitality is a reputed investor and we are confident that their presence in the Republic of Maldives will definitely mark a milestone for the raising the profile of tourism in the country,” Adeeb was quoted by The Peninsula.
“The paradise islands of Maldives have always been a strategic destination on the map of our global expansion and we welcome this opportunity”, said Sheikh Nawaf.
The initiative stems from the agreement between the governments of the two countries to strengthen bilateral ties and deepen their economic relationships.