Land acquisition costs revised for 16 tourism islands

Maldives government has revised the land acquisition costs for the 16 islands recently opened for bidding for tourism development purposes.

The Tourism Ministry said the land acquisition costs have been reduced for the 16 islands by 30 percent. The acquisition was cost was reduced as the current investment climate poses challenges for investors to invest large amounts into projects, said the ministry.

The revised land acquisition costs are as follows:

Ha. Velifinolhu: USD 420,000
Ha. Alidhuffarufinolhu: USD 350,000
HDh. Kudafarufasgandu: USD 210,000
M. Seedheehuraa: USD 875,000
M. Maausfushi: USD 1,575,000
Th. Kaaddoo: USD 700,000
Th. Kanimeedhoo (10 Hectares from the North): USD 1,050,000
Th. Olhufushi, Olhufushifinolhu: USD 700,000
L. Kashidhoo: USD 700,000
L. Bodumunyafushi: USD 700,000
L. Dhonberahaa, Holhurahaa: USD 525,000
Ga. Maarehaa: USD 1,400,000
Ga. Funadhooviligiyyaa: USD 700,000
GDh. Kanadahalagala: USD 875,000
GDh. Kadevaarehaa, Dhigurehaa: USD 700,000
GDh. Fereythaviligilla, Dhekaanbaa, Koderataa and islands on specified coordinates: USD 700,000

The deadline for bid submission is June 10.