MTDC announces sale of leasehold rights to Kihaavah Huravalhi resort

  • The island resort is currently subleased to Minor Int'l Group of Thailand

K. Male' | Miuvaan Mohamed | 18-November-2017 | Saturday 13:05 | Miuvaan | Business | 3,410

Kihaavah Huravalhi island in B atoll. -- Photo by: Google Maps

The Maldives Tourism Development Corporation (MTDC) has invited local and international parties to bid for the outright purchase of leasehold rights of Kihaavah Huravalhi island, and island resort in B atoll.

The island is a 172 bed property which was subleased to the Minor International Group of Thailand in 2007, soon after MTDC was granted lease rights to the island by the Government of Maldives. Under the Head Lease, MTDC has transferrable leasehold rights to the island for a period of 25 years, commencing from 17th September 2006. The lease period can be extended to an additional 25 years under the Head Lease. Minor International has been operating the property under their prestigious “Anatara” brand. Kihaavah Huravalhi is a 20 minute speedboat ride away from the nearby Dharavandhoo Airport.

Bid documents will be available from the Head Office of MTDC, at a price of $10,000, said the ‘Invitation for Bid” (IFB) document. The pre-bid meeting will be held on 26th November. Interested parties are supposed to send in sealed bids on or before the 10th of December 2017.

Want to share a story with email us at [email protected] or call (+960) 9110099