Govt announces 14 islands for tourist resort development

Kaashidhoo lagoon is listed among the 14 islands that will be issued for tourist resort development

The Maldives government on Monday announced 14 uninhabited islands for tourist resort development.

Investors can submit bid proposals until March 21, the Ministry of Tourism confirmed.

According to the notice from the ministry, the highest acquisition costs are set for lagoons in K. Kaashidhoo and F. Nilandhoo, where 10 hectares each have been allocated. The acquisition cost for these lagoons starts at USD 2.2 million (MVR34 million).

The lowest acquisition costs are set for islands in the northernmost Haa Alif, Thaa, and Gaaf Dhaal from the south.

HA. Medhufushi which spans 10.9 hectares, costs USD 875,000 (MVR13.5 million), and Th. Olhufushi and its lagoon have a USD700,000 (MVR10.7 million) acquisition cost threshold. GA. Fereythavilingili and three neighboring islands, which will be sold together, have an acquisition cost of USD700,000 (MVR10.7 million).

Other islands the ministry announced for tourist resort development include;

  • HA. Alidhuhfarufinolhu
  • R. Ehthigili
  • M. Boahuraa
  • GA. Beramauddoo
  • GA. Funadhoovilingili
  • GDh. Kalhehuttaa
  • GDh. Haadhuvaa

These islands will have acquisition costs between USD200,000 and USD500,000.

According to the ministry, the highest bidder will receive 60% of the points for acquisition; the remaining percentage will based on environmental sustainability practcies, staff training, and the use of renewable energy.

Bidding will follow an open-bid policy, and the acquisition cost for the lagoons are expected to increase.