Government revokes Baresdhoo lease from Villa Shipping

The government has revoked the lease of Baresdhoo in Laamu atoll, an island given to Villa Shipping and Trading Company for agriculture and fisheries purposes for a period of 21 years.

The reports come soon after an announcement that the government has annulled a 50-year agreement with Villa Air, a subsidiary of Villa Group, to develop and manage Kaadedhdhoo Airport. Villa Group is owned by well-known business tycoon and politician Gasim Ibrahim.

Ministry of Fisheries and Agriculture informed Villa Shipping and Trading Company of the annulment of Baresdhoo contract today. Sun Online is aware that the government revoked the lease after stating that the company does not utilize the island for the purposes it was granted.

Baresdhoo island was leased to Villa Shipping and Trading Company during Maumoon Abdul Gayoom's administration, in July 1994. The 21-year agreement was set to expire on 4 July 2015. The government recently announced plans to develop Baresdhoo island into a tourist resort.