The Coral Residences at Kandima Maldives
The developer here is the hotel company. Pulse Hotels & Resorts built Kandima Maldives, runs it, and is now selling forty apartments on the same island.
Photograph, The Coral Residences at Kandima Maldives.
- Price
- USD 1,200,000
- Stage
- Selling
- Bedrooms
- 2 to 3
- Developer
- Pulse Hotels & Resorts
We tell you what is available and arrange the introduction.
The property
The Coral Residences sit on Kandima, a three-kilometre island in Dhaalu Atoll, and the property runs on an unusual footing. Pulse Hotels & Resorts created Kandima Maldives, operates it, and is selling the apartments itself, the same company also built The Nautilus Maldives and Nova Maldives. Most branded residences license a hotel name to a third-party developer; this one carries no licence disclaimer anywhere, because there is no third party.
Read the full picture
Forty apartments make up the entire property, in two- and three-bedroom layouts. Floor areas vary between the layouts and the marketing, so we quote none and work from the floor plan of the specific apartment.
Pricing needs care. The launch entry was USD 1,200,000; the two-bedroom is now asked at USD 1,300,000 and the three-bedroom at USD 2,150,000, against a launch three-bedroom from USD 1,800,000. The spread is wide enough that the launch number should be read as a guide to the tier, not as today's ask. This is to be confirmed.
Ownership runs through an approved strata-title leasehold model registered directly with the Maldivian government. The lease length, in the Maldives the single number a buyer most needs, is to be confirmed. Letting is handled by Pulse through the resort: owners take a 50% share of net revenue on their apartment and keep 30 days of personal use each year.
Delivery remains the soft point. Target dates have moved more than once since launch and no handover is fixed at present; the developer's current material names no quarter. Anyone buying at this stage should treat the timetable as open and price that risk into the negotiation.
- Location
- Kandima, a three-kilometre island in Dhaalu Atoll, Maldives
- Developer and operator
- Pulse Hotels & Resorts, the same company creates, operates and sells; also behind The Nautilus Maldives and Nova Maldives
- Property size
- 40 apartments
- Layouts
- Two- and three-bedroom apartments; floor areas per the plan of the specific apartment
- Ownership
- Approved strata-title leasehold model, registered directly with the Maldivian government; lease length unpublished
- Entry guide
- From USD 1,200,000 at launch, undated. A second agency currently lists the two-bedroom at USD 1,300,000 and the three-bedroom at USD 2,150,000
- Letting
- Apartments may be let through the resort under Pulse management; owners keep 30 days of personal use a year
- Handover
- Not fixed; target dates have moved more than once
The homes
Named exactly as the developer or the seller's agent names them. Sizes appear only where they are published.
Two-bedroom apartment
2 bed
The launch entry was USD 1,200,000; the layout is now asked at USD 1,300,000. Floor area per the plan of the specific apartment.
Three-bedroom apartment
3 bed
Three-bedrooms started from USD 1,800,000 at launch and are now asked at USD 2,150,000. Floor area per the plan of the specific apartment.
Owning it
How title works here, what is on the market, what it costs to run and what happens when you are away. Open the one that is your question.
How ownership works here
An approved strata-title leasehold model, registered directly with the Maldivian government. The lease length is to be confirmed.
Leasehold or freehold: which is better?
Each has its advantages, and we would not steer a buyer to one over the other in the abstract. Freehold is title in perpetuity: the home is yours outright, it passes to your heirs without a clock on it, and it is the simpler asset to finance and to sell to the widest pool of buyers. Leasehold is normally structured to 90 years, as a 30-year registered term with two further 30-year terms written into the contract in Thailand, or as a 99-year term in markets such as Singapore, and it is the route to a villa on its own land where the law keeps freehold land in local hands. On resale a lease is assigned rather than a title transferred, which in Thailand means a fraction of the transfer fees and taxes a freehold sale attracts, and a well-run branded estate keeps its resale value on the strength of the operator and the address rather than the tenure. What matters is the specific home: the years left on the term, how the renewals are secured, and what the purchase pack says about assignment. We put those three questions to the developer or the seller's side before any offer, and we tell you what comes back.
What is available now
Pulse is selling the apartments directly as a primary launch. How many of the forty remain, and the live price on each, is to be confirmed; the figures in circulation differ because some pre-date the current release.
Letting it when you are away
Owners may place their apartment in the resort's letting programme, managed by Pulse Hotels & Resorts, and receive a 50% share of net revenue on that apartment. Thirty days of owner use are retained each year. We give no return figure.
Who is behind it
Developer
Pulse Hotels & Resorts
The hotel on site
Kandima Maldives, on the same island and operated by Pulse Hotels & Resorts. Residence owners have access to the resort's ten restaurants and bars, the esKape Spa and its water sports operation.
Completion
No handover is fixed. Target dates have moved more than once since launch, and the developer's current material names no quarter.
Where it is
Kandima Island, Dhaalu Atoll, Maldives.
Also in Maldives, and elsewhere by Kandima Maldives
Soneva / Selling
Soneva Jani Private Residences
Medhufaru Island, Noonu Atoll, Maldives · 1 to 3 bed
From USD 6,000,000
Aman / Announced / Rendering
Aman Residences, Maldives
Vaavu Atoll, Maldives
Price on request
Soneva / Selling
Soneva Fushi Private Residences
Baa Atoll, Maldives · 2 to 9 bed
From USD 4,900,000
Ask about The Coral Residences at Kandima Maldives
Three short steps. We come back with what is available and arrange the introduction.
How this works
Via Privata is a travel advisory. We do not sell property and we are not the developer, the seller, or a licensed real-estate broker in any of the markets on these pages. What we do is introduce a buyer to the developer or to the agent selling a home, and stay alongside for the parts we are useful for. The sale is concluded directly between you and them.
Where an introduction leads to a purchase we may be paid a fee by the developer or its appointed agent, and we do not act for both sides of the same transaction.
Every price on these pages was verified by us against a live published asking price on the date shown. Asking prices and availability in this market move constantly, so treat every figure as indicative and as of its stated date, and expect it to be re-confirmed before anything is agreed. Where a figure is not published anywhere, we say so rather than estimate it. Ask us and we will tell you what is available today and arrange the introduction.
In the United Arab Emirates, introductions run through a licensed local brokerage. Dubai requires a Trakheesi permit, issued per advertisement to the brokerage holding the listing, so a UAE property carries an asking price here only where that brokerage's permit number is shown on its page. Where no permit covers a page, the page reports the property and quotes nothing.
Where a residence has a rental programme we describe how it works and nothing more. We publish no yield, no projected return and no occupancy figure, for any property, anywhere.
None of this is investment, tax, immigration or legal advice. Buying across a border has consequences that depend entirely on your own position; take independent local counsel and your own valuation before you commit to anything.