Out of the 21 uninhabited islands listed by the state for tourist resort development in last October, seven have been awarded to winning developers.
The Ministry of Tourism on Wednesday, 20th April announced the lease acquisition cost and training fund cost of the islands.
From the seven islands awarded to developers, the highest acquisition cost is reported at USD3.6 million while the lowest acquisition cost is reported at USD390,000.
Meanwhile, the ministry has provided a 60-day window for the developers to pay 50% of the acquisition and training fund cost as well as conduct the environmental impact analysis.
Furthermore, the ministry had confirmed that out of the total listed islands, developers submitted bids for nine specific islands. The state body had also revealed that the islands that did not land developers this round will be re-listed to seek interested developers.
Moreover, the ministry had also highlighted on making some amends to the next list prior to announcement.