The Edition
facebook icon twitter icon instagram icon linkedin icon

Latest

Feydhoo Finolhu island sold to China firm for USD4 million

Aishath Mihna Nasih
21 December 2016, MVT 10:44
Feydhoo Finolhu
Aishath Mihna Nasih
21 December 2016, MVT 10:44

The Maldives has sold Feydhoo Finolhu, the island in Kaafu atoll previously used for Maldives Police Service activities, to a China firm for USD 4 million.

According to Minister of Tourism Moosa Zameer, Feydhoo Finolhu is the only island sold off without bid from the list of islands and lagoons put up for sale by the government. The acquisition cost of USD 4 million has already been paid and the agreement signed.

“Currently we have sent all the information about the deal to Anti-Corruption Commission and Auditor General's Office as well," said Minister Zameer, responding to a question asked during the inauguration of the Tourism Ministry’s new website.

It is noteworthy that the name of the Chinese company has not been declared yet.

After the amendments brought to the Tourism Act this year, Feydhoo Finolhu and 10 other Islands and a lagoon near Huvafen fushi resort were also included in the list to be sold without bid. Feydhoo Finolhu was initially to be sold at a price of USD 3 million.

Minister Zameer said that proposals are being received for other islands as well. Under the regulations, a special committee will evaluate the proposals.

According to a recent amendment passed for the Tourism Act, the islands to be developed into a resort should be published in a list set by the President’s Office, while the islands will be awarded only after the full payment of acquisition cost.

Share this story

Related Stories

Discuss

MORE ON NEWS