The rental formula and management fee terms under the new lease agreement are the same as the existing lease entered into between the parties on Jan 4, 2013.
CDL Hospitality Trusts (CDLHT) (SGX:J85
) has announced that Sanctuary Sands Maldives, a wholly-owned subsidiary of CDL Hospitality REIT has entered into a new lease agreement with Maldives Bay, a subsidiary of Banyan Tree Holdings (SGX:B58) for Angsana Velavaru.
The existing lease in place with Maldives Bay expires on Jan 31, 2023. The terms of the new lease agreement are similar to the existing lease and will be for a term of 10 years commencing Feb 1, 2023.
