Bids received for only nine islands opened in October for resort development

Satellite photo of Alifu Dhaalu, Vaavu, Meemu and Faafu atolls.

Tourism Ministry has stated that bids were only received for nine islands from the 18 islands in 10 atolls opened for bid submission for resort development.

Despite this, the Ministry stressed that the bids received to these nine islands were significantly high – being 250 percent higher than the smallest acquisition cost on an average.

Tourism Ministry said that the highest bid received for an island from the ones announced for bid submissions is an island in Faafu Atoll. They detailed this to be an amount 929 percent higher than the starting price of the bid.

Two islands were opened for bid submissions from Faafu Atoll. They are En’bulufushi (1 hector) and Jinnathugau (0.89 hectors). The starting price for both of those islands USD 350,000. Therefore, 925 percent of the starting price would be USD 3.25 million.

A total of 13 bids were made to the nine islands that received bids. They are:

  • Three bids for two islands in Haa Alifu Atoll
  • Two bids for an island in Meemu Atoll
  • Two bids for two islands in Faafu Atoll
  • One bid for an island in Thaa Atoll
  • One bid for an island in Gaafu Alifu Atoll
  • Three bids for two islands in Gaafu Dhaalu Atoll

Tourism Ministry expressed plans on reopening bid submissions for the islands which did not receive bids this time around with amendments.