Tourism Ministry: 13 bids received for seven islands up for tourism development

The Tourism Ministry of the Maldives has announced that a total of 13 bids had been received for seven islands up for tourism development projects. 

The islands most recently announced. included clusters of nearby islets, sandbanks, and smaller islands as part of the property as well. A total of 16 islands were up for bids under the project. 

The islands are:

• Ha. Velifinolhu
• Ha. Alidhuhfaru Finolhu
• Hdh. Kudafaru Fasgandu
• M. Seedhee Huraa and M. Seedhee Huraa Veligandu
• M. Maausfushi
• Th. Kaaddoo
• 10 hectares North of Th. Kanimeedhoo
• Th. Olhufushi and Olhufushi sandbank
• L. Kashidhoo
• L. Bodumunyafushi
• L. Dhonberaha and Holhurahaa
• Ga. Maarehaa
• Ga. Funadhooviligillaa
• Gdh. Kandahalagalaa
• Gdh. Kadevaarehaa and Dhigurehaa
• Gdh. Fereythagillaa (inclusive of a number of other islands)/Dhekaanbaa/Koderataa and a small 2.9-hectare island neighboring Fereythagillaa.

The bidding process for the islands were conducted yesterday and applications had been opened for both local and foreign companies. Nine parties submitted bids for seven islands. 

Proposals submitted by these parties had a difference of 140 percent, in terms of the proposed acquisition cost and the minimum lease acquisition cost for the islands. 

The Ministry, to increase potential interest and investors, had previously lowered the lease acquisition costs. 

The Ministry has previously estimated that 2021 would be a good year for the Maldivian tourism industry, resurging from the shocks of the pandemic hit 2020.