JLL advises on Hilton Maldives Amingiri Resort’s debt refinancing

JLL on Wednesday announced that it has advised on a landmark debt refinancing program for Amingiri Holdings Pvt. Ltd., owner of the luxury Hilton Maldives Amingiri Resort & Spa. The milestone deal leverages JLL’s decades of experience in the Maldives hospitality sector and marks a significant expansion of the firm’s services in this priority market. According to JLL, its advisory role on this transaction will also serve as a potential catalyst for increased debt financing activity in the Maldives, appealing to demand for more international and diverse lenders in this space.

Amingiri Holdings Pvt. Ltd. is a hospitality-focused subsidiary of Amin Construction Pvt. Ltd., one of the most prominent Maldivian real estate companies. JLL’s Hotels & Hospitality Group and Debt & Structured Finance teams in Singapore originated the debt refinancing with an international bank, who acted as the arranger, facility agent, and security agent for the loan.

“We have long provided innovative investment advisory solutions to the Maldives’ leading hotel owners and operators and proudly take our commitment to this market to another level by providing JLL’s first debt refinancing deal in the market. We believe there exists considerable interest in diverse refinancing programs in the Maldives that play to our strengths and ability to tailor solutions,” says Nihat Ercan, CEO, JLL’s Hotels & Hospitality Group, Asia Pacific.

The Hilton Maldives Amingiri Resort & Spa opened in July 2022 and is managed by Hilton Worldwide. The asset comprises 109 keys spread across beach and overwater villas. The hotel is strategically located on Amingiri Island in the North Malé Atoll, accessible by a 20-minute speedboat ride from Velana International Airport.

“Advising on a transaction of this scale in the Maldives is a landmark for the country’s hospitality industry and JLL’s evolving debt financing footprint regionally. There is considerable interest by hotel owners for more structured finance services, and our entry into the Maldives will open new doors for financing assets in this and other non-traditional markets,” says Paul Brindley, Head of Debt Advisory, Asia Pacific, JLL.

The transaction follows JLL’s recent announcement celebrating its standing as the #1 advisor for Asia Pacific Hotels investment sales in 2024 by MSCI Real Assets for the 13th year. To date, JLL has advised on approximately $2.0 billion worth of resort transactions in the Maldives.