Shangri-La Hotels and Resorts
In 2005 Maldives President Maumoon Abdul Gayoom contracted Shangri-La Hotels and Resorts, a Hong Kong-based company, to build the first luxury resort in Addu Atoll. The resort is being developed by Addu Investment Private Limited (70%) and the Maldivian Government (30%). The resort cost an estimated USD 150 million and opened in early 2009. Shangri-La's Villingili Resort &amp; Spa features a range of 132 villas including two Presidential Villas.