Business Politics

Malé land to be leased without bidding

The tourism ministry has added a plot of land from the capital to the list of properties up for long-term lease without any bidding process.

The land is estimated to be 19,343 square feet with an acquisition cost of MVR1.4 million (US$90,800).

Parliament authorised the government to lease islands for tourism development without any competitive bidding processes in 2016.

The ministry list comprises islands and land leased for the development of tourist infrastructure and was updated in November, according to SunOnline.

The ministry amended the November decision in an announcement published Thursday, changing the location of the land to be leased from Southwest Malé to Northwest Malé.

The latest islands added to the list are Kohdhipparu Finolhu in Malé atoll – estimated to be 2.8 hectares and with an acquisition cost of MVR43.1 million – and a 2.5 hectare plot of land in Addu City valued at MVR4.8 million.

Also on Thursday, Avas reported that a Qatari company was preparing to invest in a hotel in Malé. It did not identify the firm.

Full details are available at the link below:

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