New Resort Development Opportunities: Lhaanbugali Island Added to Lease List

Thursday 29th of August 2024

The Ministry of Tourism has announced Lhaanbugali in Raa Atoll as the latest addition to its list of islands available for lease for resort development. As of Wednesday, proposals are being accepted for the 2.66-hectare island, with an acquisition fee set at USD 1.6 million.

In addition to Lhaanbugali, the Ministry has finalized lease arrangements for two islands and one lagoon from the bid list opened in May. These include Lh. Vihavaru Finolhu, a lagoon in Vaavu Atoll, and L. Hannhushi.

New opportunities for tourism development are also available, with several islands and lagoons now open for bids:

HDh. Vaikaramuraidhoo: 15 hectares, USD 1.9 million

Sh. Kudalhaimendhoo: 13.11 hectares, USD 2 million

R. Dhikkuredhoo: 4.83 hectares, USD 2.6 million

Lh. Diffushi (and Lh. Maidhoo): 15.17 + 20.99 hectares, USD 18.6 million

K. Himmiya Lagoon: 712 hectares, USD 23.5 million

Other options include islands in various atolls with prices ranging from USD 385,000 to USD 11 million.