Singapore is a land-scarce country with a fast-growing population, making the demand for condos skyrocket. This is primarily due to the limited availability of land, as the small island nation faces challenges in accommodating its citizens. To combat this, the government has implemented strict land use policies, resulting in a competitive real estate market. As a result, property prices remain consistently high, making condos a desirable investment with the potential for capital appreciation. This has also led to the rise of renowned projects in Singapore, such as Singapore Projects, further attracting investors to the condo market.
Global hotel leader Hyatt Hotels Corp has formed a partnership with Singapore-based real estate developer SingHaiyi to launch the Hyatt Regency Samarafushi Maldives, an exclusive villa resort.
During the signing ceremony on September 26, Gallant Tang, executive director of SingHaiyi, expressed his reasons for choosing Hyatt as a partner. “We have chosen Hyatt due to its established reputation and leadership in the hospitality industry,” he stated. “We are thrilled to work with Hyatt to create a resort that embodies the qualities of the Hyatt Regency brand that guests appreciate.”
At the signing ceremony, Mohamed Luveiz, the High Commissioner of the Republic of Maldives to Singapore, also shared his excitement for the new resort. “This resort is a significant addition to our portfolio in the island state,” he remarked. “The Maldives’ infrastructure is rapidly expanding, starting with the Valena International Airport. With the recent opening of a new runway and upcoming domestic airport infrastructure, we hope to enhance connectivity and open new opportunities for travelers.”
The upcoming Hyatt Regency resort is only a 25-minute speedboat ride from the Valena International Airport, located in the capital of Malé. The resort will cover 10 hectares of land and feature 130 villas, including beachfront, treetop, and overwater options, each with its own private pool. The resort is set to open in 2027.
An artist’s impression of a beachfront villa at the resort was also revealed at the signing ceremony. This resort will mark Hyatt Regency’s flagship property in the Maldives and the third Hyatt property in the island state. The addition of Hyatt Regency Samarafushi will bring the total number of Hyatt Regency hotels in Asia Pacific to 80, including those in Bali, Phuket, and Sydney.
For SingHaiyi, this resort will be its second property in the Maldives, following the opening of the 120-villa Grand Park Kodhipparu Maldives.