With the launching of the sale of Platinum Residences, Coastline Investments has opened a new frontier in residential properties in the Maldives. It is a property designed to offer luxury living, removed from the crowded streets of Male’, yet easily accessible from the capital, the international airport and the surrounding islands. The first phase of the project has been completed with 32 apartments. All properties were sold at launch and are being used by their owners today. Phase two of the project which consists of 44 units will be completed by March 2013, while phase three of the project which will commence in January 2013, will consist of 24 apartments and a 77 room transit hotel. Platinum Residences stands in a class of its own and is the first and only development of its kind in the country. The success of the project demonstrated the ability of the Group to gauge the trends in the market and its capacity to venture into new segments. Platinum Real Estate Development (PRED) is a joint venture between Coastline Investments and Platinum Capital Holdings Pvt. Ltd. formed in September 2009, to develop and operate real estate properties in the Maldives.