A luxury yacht owned by ADK Group caught fire and sank near Reethi Rah Resort on Wednesday afternoon.
According to police, the incident was reported at 3:45 pm on Wednesday when the yacht, "Nawaimaa", was sailing five miles off Reethi Rah.
The vessel sank following the fire.
There were five people onboard at the time. One person sustained burns and was taken to ADK Hospital for treatment.
ADK Hospital Managing Director Ahmed Afzal said that the injured individual, a Maldivian man, is in stable condition.
"Nawaimaa", a 26.25-meter-long yacht, was built 17 years ago and operated by ADK Group.
Authorities are investigating the incident, and further details have not yet been disclosed.