Ministry of Tourism has extended the deadline for the submission of bids for 18 islands opened for resort development under the third phase of leasing islands for tourism development.
The 18 islands leased from 10 atolls were opened for bidding during the Investment Forum held at Expo 2020 held in Dubai.
The tourism ministry said a new deadline is being provided to submit bids for the island due to challenges faced by the investors following the spread of the new Omicron COVID-19 variant. The ministry said investors can now bid for the 18 islands until March 23.
The islands opened for resort development include islands in Haa Alifu Atoll, Haa Dhaalu Atoll, Shaviyani Atoll, Noonu Atoll, Raa Atoll, and Meemu Atoll, Faafu Atoll, Thaa Atoll, Laamu Atoll, Gaafu Alifu Atoll, and Gaafu Dhaalu Atoll.
The Government of the Maldives has stated it will allow companies with 100% foreign ownership to bid for the islands. The government will also provide leeway for the contracted companies, including lowering the duty on imported resources for development and allowing the companies to reclaim land around the islands.