Ministry of Tourism, Arts, and Culture on Thursday has opened bidding for four resorts to lease the islands to parties making the biggest contributions for the housing fund.
Tourism Ministry said bidding documents are available at the ministry until June 13 for Fushivelaavaru, Huivani, and Raafushi in Noonu Atoll and Raa Atoll Dhigali.
Documents cost Rf2000 for locals and US$300 for foreign parties and a bid security of US$ 50,000 is charged.
Each of the rent-controlled islands will host a 200 bed hotel. US$ 2,500 would be charged as rent for the first year and the amount would increase annually up to US$ 2,988 in the tenth year, the bid documents read.
The documents, however, state that the rent can be changed according to amendments to the law.
According to the document, only the Lease Acquisition Cost would be assessed in bid evaluation process and 100 marks would be awarded. The non-refundable acquisition cost, which must be paid within 14 days of winning the bid, would be deposited to the housing fund.
While the winning party gets 36 months to develop the resort, rent would be collected after 18 months of signing the agreement.
The ministry revealed that the pre-bid meeting is scheduled to May 31 with the bid opening ceremony following on June 14.
The government had decided to lease eight islands for resort development to procure funds for housing, but only four islands would be leased this year, the ministry added.
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