Investors keen on newly announced resort development projects: ministry

Maldives’ Tourism Ministry has stated that it has been receiving a good response for the recently announced investment opportunities for resort development.

In an interview given to AVAS, Tourism Ministry’s Senior Policy Director, Mohamed Hussan said from among the islands opened for investment, islands in Noonu and Haa Alif atoll of which the land rent was reduced has been receiving a great response from potential investors. Islands in Haa Dhaalu and Shaviyani atoll are also receiving a lot of interest, said Hussan.

Hussan added that it is likely that the changes to the tourism land rent is the reason behind the positive responses.

“One of the complaints that we have always received is that it is not feasible to operate resorts in southern and northern islands due to high tourism land rents. The land rent has now been revised from USD 8 per square meter to USD 4 per square meter in Haa Alif and Haa Dhaalu atoll,” said Hussan.

The government announced three islands and a land area for tourism development purposes on December 27, 2020. The islands open for lease are Ha. Alidhuffaru sandbank, Sh. Kudalhaimendhoo and N. Kunnamela. 15 hectares of land is also open for bidding from agricultural island, HDh. Vaikara Muraidhoo.

The Tourism Ministry said interested parties are to attend a virtual information session to be held on January 14th, and submit their bids by 1000hrs of March 7. Those interested in attending the information session must share their details with the ministry via email before 1400hrs on January 13th.