New developments & recent industry news roundup


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Male' Maldives

  • Raa Atoll Maamunagau island has been awarded to BIR Hotel Management (Pvt) Ltd. The island has been awarded under new procedures without a competing bidding process, whereby the resort is developed as a joint venture business with the participating company and the government. The government retains a 5% share which will be sold back to the company one year later. The island is awarded after taking advance cash payment of 2.5m$ which will be paid in 30 days and another 2.5m$ to be paid in 1.5years.link :@ Haveeru
  • Two more regional airports are to built at Huvadhoo Atoll accompanied by two more resorts!
  • The first airport is to be built on Kooddoo which also has the fish processing facility. The developer would be Bonaventure (Maldives) Pvt Ltd. Bonaveture has also been given Gaaf Alif Dhigurah to develop a resort as consideration for developing the airport at Kooddoo.
  • The second airport will be built at Gaaf Dhaal Maavarulu. The developer will be Moving International Pvt.Ltd. As consideration for the development of the airport, the company has been awarded Gaaf Alif Kodaanahutta
  • Addu City authorities propose to develop areas of the city as a Asseyri (Beachside) Project. The two areas ear-marked for development under this project are the Maafishi Area of Hulhumeedhoo Island and the start of the Hankede area, Hithadhoo.
  • An MoU has been signed between Kalaidhu Investment and Dubai’s Jauhara Group to open first Shari’a-compliant resort in Maldives. The resort  would comprise of 50-75 luxury villas with private swimming pools as well as a private beach, restaurant, recreation centre, spa, marina and yachts, is estimated to cost between US$70-100 million and is expected to be complete by late 2013 or early 2014.
  • Tourism Ministry has issued last warning of revocation of operating licenses for 10 resorts and Nasandhura Palace Hotel, which were given a 90-day notice for failing to pay the lease rent, land rent and the fine, fail to settle the payments before July 20. The notices were given to Alidhoo Island, Kudarah Island Resort managed by Yacht Tours Maldives, Summer Season Maldives managed by Huvadhumaafushi, and Filitheyo Island Resort Maldives and Medhufushi Island Resort Maldives run by AAA Hotels and Resorts. Zitahli Resorts and Spa Kuda-Funafaru , Kihaadhuffaru Island Resort managed by Athama Marine International, and Olhuveli Resort run by Olhuveli Laamu Holdings were also given the notice.
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