The contract signing took place on 14 September 2012, and the resort is being developed under an investment cost of USD36 million.
"We are very much looking forward to the opening of Centara Hudhufushi Resort & Spa, which will be our third resort in the Maldives," says Thirayuth Chirathivat, chief executive officer of Centara Hotels & Resorts.
"The Maldives is one of the world's finest holiday destinations, and this is very much a strategic move in our plans to expand our presence in the Indian Ocean."
Centara opened its first resort in the Maldives, Centara Grand Island Resort & Spa Maldives, in late 2009. The second resort, Centara RasFushi Resort & Spa Maldiveswill open in March this year.
"Our international presence has grown extremely strongly during the past few years, and the Maldives has been a major success for us," says Chris Bailey, senior vice president for sales and marketing at Centara Hotels & Resorts.
"We believe that having a third Maldives resort, in a very different location amongst the Maldivian islands, and with a different style to the existing two resorts, will give us a very powerful marketing tool.
"Our marketing division for the Indian Ocean region has recently been strengthened, and we have great confidence in the region, and in our latest venture."
Centara's first resort, Centara Grand Island Resort & Spa, is located in the South Ari Atoll and has a broad appeal for couples, families and groups. The second resort, Centara RasFushi Resort & Spa Maldives, is set on an island just 15 minutes by speedboat from Male International Airport, and is an adult-orientated resort.