Land lease agreement signed for boatyard in Huraa

The 100,000 square-feet land allocated for the development of a boatyard in Kaafu atoll Hura has been handed over.

According to the island council, the land was leased to Fix In Marine Pvt Ltd, during a ceremony held yesterday.

Fix In Marine is a boatbuilding and repairs business operating in the Maldives.

The council opened bids on October 23 to lease a large piece of land to build a modern boat yard on the west side of Huraa.

The land, which will be leased for a maximum period of 30-years, will be used for boat building, repair and other related businesses. The minimum bidding price for land lease is MVR 1 per square-feet.

Hura was one of the first islands to complete the land use plan under the Decentralization Act and obtained permission from Ministry of National Planning, Housing and Infrastructure.

The state in 2020, dredged 23 hectares of land in Huraa which has been left unused till date.