Two islands opened for lease by the Tourism Ministry in January have received a good response.
The two islands are Haa Alif Alidhuffarufinolhu and Th. Olhufushi. The Olhufushi lease will also include Olhufushifinolhu. The minimum bid for the lease acquisition cost was $350,000 for Alidhuffarufinolhu and $700,000 for Olhufushifinolhu.
According to the Tourism Ministry, five bidders have submitted bids for Alidhuffarufinolhu and three for Olhufushifinolhu. The ministry said the highest lease acquisition cost paid by a bidder for Alidhuffarufinolhu was 585.7 percent more than the minimum lease acquisition cost. The highest lease acquisition cost paid by a bidder for Olhufushifinolhu was 114.2 percent more than the minimum amount.
The Tourism Ministry also opened F. Nilandhoo lagoon and K. Kaashidhoo lagoon for tourism development earlier in January. This is the first time the opportunity was opened for investors to reclaim such lagoons to build resort islands.
The highest bidder will be considered for the sale of the islands allocated for resort development. Sixty percent of the points are awarded to the highest bidder. Points are then awarded based on the priority given to environmental issues, employee training, and renewable energy.
