Chip Eng Seng Corporation and Park Hotel Group has entered into a joint venture agreement to invest in a Maldives resort project worth US$65 million.
Chip Eng Seng has 70% stake in the joint venture while Park Hotel holds the remaining 30%.
Park Hotel will manage the 120 all-villas resort, Grand Park Kodhipparu, which is scheduled to be opened in 2Q2017
This is Park Hotel Group's second tie-up with Chip Eng Seng, following the partnership for Park Hotel Alexandra, which opened last year.
Park Hotel will manage the 120 all-villas resort, Grand Park Kodhipparu