Maldives Issues Additional Lagoon for Tourism Development

Ministry of Tourism has announced public tendering for the lease and development of a Tourist Resort on an additional lagoon in Kaafu atoll.

According to the Ministry, the resort will be developed in accordance to the Maldivian laws and regulations. It will be leased for a period of 50 years. The Ministry had stipulated that the project should be completed and become operational within a period of three years. Local laws allow tourism leases of up to 100 years.

The winning party will need to pay an acquisition fee of US$ 4 million and US$ 129,701.70 as bid security to the Maldives government.

With the approval of the new budget, 26 lagoons from Male’ atoll will be developed for tourism. Numerous projects are currently in progress and the government has informed that 51 resorts will be opened by December 2018.

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