The State Bank of India (SBI) has announced plans to auction the Dholhiadhoo Resort, located on Sh. Dholhiadhoo, due to unpaid loans.
Dholhiadhoo Resort, which is registered under a Mr Mohammed Latheef from S. Maradhoo-Feydhoo, is currently run by AAA Maldives Resorts & Villas, and the window for bidding for it is from 21 March to 4 April.
The resort currently has unpaid loans to SBI, the Bank of Ceylon, and the Bank of Maldives as well.
The starting price for bids for this 100-bed resort is slated to begin at MVR659.9 million.
In addition to Dholhiadhoo Resort, Palm Beach Resort on Lh. Maiguraadhoo is also up for bidding by SBI for similar reasons.
More details on that story can be found here.
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