Lagoon leased to Hamid Ismail put on bid again by Ministry

  • Company had begun reclamation, development of lagoon
  • Put on bid again on November 2nd
  • Minimum bid valued at US$ 5 million

K. Male' | Rushdha Rasheed | 03-November-2017 | Friday 22:54 | rushdhar | Local | 606


Lagoon of Dhiffushifalhu -- Photo by: Google Maps

A lagoon leased to Hamid Ismail, one of the individuals serving a jail term in connection to the graft of Maldives Marketing and Public Relations Corporation (MMPRC), has been put back on bid.

The lagoon of Dhiffushifalhu is currently being reclaimed and developed by a company owned by Hamid.

A statement released by the family said this was unacceptable, as the lease was for a 50-year period. The statement further said work on the lagoon was on going.

All financial transactions relevant to the lagoon had been completed, it noted. The family’s statement added the company had already spent massive amounts developing the reclaimed area.

The lagoon was put on international bid again on November 2nd, with a deadline of November 16th to submit in bid documents.

A minimum bid of US$5 million had been set as reclaiming rest of the area, develop and operate a resort.

Hamid’s family further claimed that the Government had completely rejected the agreements made between Hamid and the Government. As such many of the leases had been nullified and areas leased had been repossessed. Due to this, the statement said, their companies had sustained severe losses. The family also stressed that Hamid had developed his businesses ethically and legally over the years.


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