A lagoon leased from Male' atoll for resort development has been sold.
The Tourism Ministry has announced ownership change of the lagoon at geographical coordinates (4°0’24.28”N, 73°25’20.14”E). The lagoon is located near one of the most luxurious resorts in the Maldives.
The ministry said the lessee requested the ministry to transfer all rights entitled to the lessee under the agreement to a third party. The announcement said that any debts or other issues related to the lagoon must be informed to the ministry before the matter is settled. A period of 14 days has been granted for the purpose.
The ministry did not disclose the identity of the new owners.
Several lagoons have been leased for tourism development purposes. While 85 properties remain incomplete, this includes 25 lagoons, mostly in Male' atoll. The government has plans to reclaim lagoons to allow real estate tourism to flourish. In this regard, the reclamation of four lagoons has been included in the budget for the current year.
