Chip Eng Seng, the development and property organization, and Park Hotel Group, on Thursday declared they have gone into a joint endeavor consent to put resources into Grand Park Kodhipparu resort in the Maldives.
The JV has gone into a deal and buy concurrence with Kodhipparu Investment for US$65 million ($89 million). Under the arrangement, CEL Development, a completely claimed backup of Chip Eng Seng, holds an enthusiasm of 70% in the resort venture, while Grand Park Maldives, an individual from Park Hotel Group, holds the staying 30%.
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