Maldives government has revised the bid opportunity announcement for tourist resort development by including Thaa atoll Ruthibirah.
The ministry on Sunday, September 1, announced that Ruhthibirah, an 8-hectare island, is now available for interested investors with a minimum financial capacity of USD 2 million (MVR 31 million) with the lowest acquisition cost set at USD 875,000 (MVR 13.4 million).
This revision comes after the ministry earlier on August 21, announced the bidding for Haa Alifu atoll Medhufushi and Shaviyani atoll Nalandhoo.
The successful bidders must develop a minimum of 120 tourist beds in Medhufushi, 200 in Nalandhoo and 100 beds in Ruhthibirah.
Both Medhufushi and Nalandhoo were opened for bids with a security of USD 50,000 (MVR 771,000), while 90% of the points will be allocated for the highest bidders.