The Bank of Ceylon (BOC) has issued a notice regarding the sale of 'Drift Thelu Veliga Retreat' located in Southern Ari Atoll.
The Bank of Ceylon (BOC) has issued a notice regarding the sale of 'Drift Thelu Veliga Retreat' located in Southern Ari Atoll.
As stated in the notification, the bank has been granted the right to sell the leasehold rights of the five-star resort in a proven debt case by the Civil Court's March 14 verdict.
BOC specified that the current lease period expires in April 2064, with the possibility of extension by the winning bidder for an additional 49 years as per the Maldives Tourism Act.
The bank has established a minimum sale price of USD 21.14 million for the esteemed Drift Thelu Veliga Retreat.
Prospective buyers are encouraged to submit their proposals to acquire the leasehold rights of the property by remitting a non-refundable deposit of USD 2,000 to obtain the necessary tender applications and documents from BOC.
To participate in the bidding process, interested parties must deposit USD 25,000 at the time of submitting their bid applications.
The deadline for bid submissions is set for 1400 hrs on April 23.
The Bank of Ceylon terms stipulates that the successful bidder must transfer 25 percent of the bid sum within 30 days of acceptance and finalize the remaining payment within 60 days.
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