Will be financially beneficial for the institution: Head of Police Welfare Company

  • Sold to Pearl Atoll Pvt. Ltd. for 50 years, can be extended to 99 years
  • Maldivian business tycoon from Addu City is a shareholder at Pearl Atoll
  • Ex-President Maumoon has called to preserve Feydhoo Finolhu as a picnic island

K. Male' | Aishath Shaany | 10-January-2017 | Tuesday 21:41 | Shaaknee | Local | 1,653

Feydhoo Finolhu Island sold to Pearl Atoll for 50 years. -- Photo by: google

Assistant Commissioner of Police, who is the head of the Police Welfare Company, Abdul Mannaan Yoosuf has said that developing Feydhoo Finolhu Island into a resort will be “financially beneficial” to the institution.

Speaking to RaajjeMV on Tuesday, Mannaan noted that the island was sold for 50 years, adding that "this will be highly beneficial" for police welfare.

He said that discussions have been held between the police and the Ministry of Tourism regarding the matter, and that it will be financially beneficial for its welfare, as assured by the Minister.

In December, Tourism Minister Zameer revealed that the deal to lease Feydhoo Finolhu Island would bring around USD 80 million for the Police Welfare Company in 50 years.

Also in December, the government sold Feydhoo Finolhu Island for around USD 4 million (MVR 61 million) to Pearl Atoll Private Limited, without calling for a bidding process.

Pearl Atoll is owned by China’s Shenzhen Sunpen Investments and Hong Kong’s Mirich Investments. A Maldivian business tycoon from Addu City is also a shareholder.

Even though Maldives Police Service had been using the island to hold various training programs, Mannaan maintained that selling it “will not be an inconvenience.”

He said that the programs will be held in Gulhifalhu, where they are to establish a Police Academy.

A 240,000 feet land was given to the institution- as a compensation- for a period of 99 years, and an agreement was signed with Gulhifalhu Investment Limited on December 13.

The government list publicized in October includes 11 islands and 2 lagoons which can be sold off without a bidding process.

The procedure to lease islands and lagoons without a bidding process was approved with an amendment to the Tourism Act.

Feydhoo finolhu was previously used as a picnic island by the people in the Male' region.

Former President, Maumoon Abdul Gayoom has, on various ocassions, called on Tourism Minister Moosa Zameer to preserve Feydhoo Finolhu as a picnic island.

In a tweet, Maumoon called on Tourism Minister Zameer to maintain Feydhoo Finolhu as a picnic island for people living in the Male' City region.  

Maumoon said the people in the Male' region no longer have a nearby picnic island.


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