The Maldives government has put up 18 islands for sale for resort development purposes.
The government first announced that the 18 islands would be put up for sale at the Dubai Expo held last October. The Tourism Ministry said they made the announcement well in advance of opening the bid to increase investor interest in the islands.
The Ministry on Monday began the sale of the bid documents for the islands. The ministry said the islands must be developed as resorts and opened for service within three years. Out of the 18 islands, the highest acquisition cost was for Maausfushi island, a 10.40-hectare island in Meemu atoll. The acquisition cost of the island is USD 1.5 million. The second-most expensive island is 14.70 hectare Ga. Maarehaa with a price tag of USD 1.4 million. The acquisition cost is the lowest for R. Ehthigili, F. Embulufushi, and F. Jinnath, costing around USD 300,000.
