Maldives Integrated Tourism Development Corporation (MITDC) has invited interested parties to tender for the reclamation of a lagoon near Male’, to be developed into a picnic island for locals and residents.
The lagoon, known as Galufalhu, is located between Feydhoofinolhu and Dhoonidhoo, and will be only 10 minutes away from Male’. While the usual rates for lagoon lease fluctuate between USD 20 million and USD 50 million, MITDC has announced that the lagoon would be provided completely rent free for a period of 50 years to the selected developer.
Full details are available from the link below:
Source URL: Corporate Maldives