Addu City Council announced that bidding for 96 land plots were opened last Thursday for those interested in developing city hotels and guesthouses in Addu.
The land plots are being leased as part of the project to increase the number of tourism beds in Addu to 4,000. Interested parties can bid for the plots, ranging from 2,400 to 10,000 square feet, until November 28.
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 under this project.
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 and can accommodate a guesthouse of 10 rooms.
Bid documents for these plots are sold for MVR 2,000 to locals and USD 300 to foreigners. 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.