Tourism Ministry has confirmed an acquisition fee of USD 5 million should be settled for the taking Kaaf atoll Dhiffushi lagoon for resort development.
A circulation of the ministry states the lagoon which is planned under the government as a plot for resort development through land reclamation, will be rented to successful bidders once they settle the acquisition fee within 7 days of winning bid.
Dhiffushi's lagoon is leased for a period of 50 years for developers, and contractors must complete property development within three years time in the plot.
Earlier the plot was leased to Hamid Ismail for development. Ismail who's an uncle of currently incarcerated former vice president Ahmed Adeeb, is also serving jail term for corruption charges rooted from the MMPRC scandal.
Meanwhile Ismail's family had released a statement criticizing government and Tourism Ministry for the apparent violation of agreement made by the entity and Ismail's corporation, citing heavy financial loss.
The statement had panned the Tourism Ministry for revoking the lease agreement while development work was midway.
State has initiated a few integrated resort concepts from Male' atoll area. The Emboodhoo lagoon, a 20 minute boat ride from the capital is currently being developed as a multi-faceted hospitality venue under one of the most prominent corporations of Thailand. Meanwhile the integrated resort project will be graced with 3 resorts developed by Singapore's Pontiac Land Group. Additionally several franchises and duty free services along with training centers are expected to lift across the various plots of the integrated resort area.
While government has initiated the relatively new concept of integrated resort projects, the state has projected the inception of 50 new hospitality outlets across the country during the term. Last year had witnessed 11 resort openings while the state expects 25 more to inaugurate by the current year.