Addu City Council, on Tuesday, opened a second round of leasing land from the atoll for the establishment of guesthouses and city hotels, to individuals who are keen to invest.
The land plots are being leased for a 50-year period, as part of the project to increase Addu's tourism capacity to 8,000 beds.
Presently, interested parties can bid for the plots, ranging from 2,400 to 10,000 square feet, until November 12.
A total of 30 plots from Hithadhoo's 'Maamenn Beach', 25 plots from Hulhudhoo's 'Kayvah Beach', 16 plots from Meedhoo's 'Koagan Beach', 24 plots from Feydhoo's 'Savaa Beach' and one plot from Maradhoo will be leased for the construction of city hotels and guesthouses.
The plots are divided into five categories. Category A plots measure 10,000 square feet and can accommodate up to 60 rooms. Plots of 7,000 square feet accommodating 35 rooms fall under B Category.
While C Category plots are 5,000 square feet and can accommodate 25 rooms, Category D plots are 3,000 square feet and can accommodate 15 rooms.
The smallest plots, belonging to Category E, are 2,400 square feet in size and are estimated to be able to accommodate a guesthouse of 10 rooms.
Bid documents for these plots are sold for MVR 2,000 to locals and USD 300 to foreigners.
The pre-bid meeting for the project will be held online on October 29. Interested participants must register for this meeting on October 27 by sending an email to [email protected]
Bids will be opened starting from December 14 to 17, for a different tourism zone each day. Further details about land leasing and the bidding process are available at https://tinyurl.com/yyu3kgbn
President Ibrahim Mohamed Solih's administration also announced that the state will issue loans worth MVR 80 million, through SME Development Finance Corporation (SDFC), for entities developing small and medium guesthouses on the plots.
At the time, three resorts, three city hotels and a number of guesthouses have been developed in Addu.
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