Browns signs $108 mn contract with Syno Hydro Corporation
Last week Brown’s Investments fully owned subsidiary, Bodufaru Beach Resort, signed a US$108 million contract with Syno Hydro Corporation Limited in China, to construct one of the largest integrated resort projects in the Maldives.
This resort project construction, which comprises three five-star hotels in North Male Lagoon in the Maldives, will be jointly funded by Browns Investments, Barcelo Hotel Group and Syno Hydro Corporation. Reclamation of three islands with extent of 35 hectares, shore protection and harbour construction has already been completed and with the signing of this contract, parties expect to start the construction work during the first half of 2025, after completion of the detailed design. With the completion of this project, Browns Investments will have close to 1000 hotel rooms in the Maldives, making it the biggest Sri Lankan investor and hotel operator in Maldives.
Brown’s investments already have 100 rooms at Barcelona Whale Lagoon and 400 rooms at Barcelo Nasandura in Maldives. Barcelo Nasandura, which is the largest city hotel in Maldives constructed with $80 million investment will commence its operation in one month, January 2025.
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