This beautiful approximately 4,000 m² (1 acre) private island has a reasonably large lagoon and was originally given the status of a "picnic island" (day tour island), with the Government of the Maldives now having granted the island to operate as a tourist resort with the development of up to 80 rooms.
*Expressions of interest can be provided via LOI & POF following the signing of an NDA.
APPROVED DEVELOPMENT & EXPANSION PLAN
The island is approved for the development and expansion of the current infrastructure up to a total of 80 rooms, which can be developed both on the island and in the lagoon surrounding the island. As well, if a new owner wished to, the island can also be reclaimed if there would be a requirement to make the islands total area larger.
Design concepts for all beach villas and bungalows can be designed based on a new owner's desires & requirements. Currently, only 6 beach villas have been built.
ADDITIONAL INVESTMENT REQUIREMENTS
80% of Phase 1 of the island development has been completed and currently requires an additional $3 million USD to complete the island in its current state. In order to complete the island expansion and the development of the approved 80 additional rooms (Phase 2), a considerable investment would be required (please ask for more details if interested).
The island lease has been extended to 50 years and can be extended for an additional 50 years. Annual Head Lease fee will be $76,000 USD per year to the Government of the Maldives (beyond the initial 50 year lease).
ISLAND & ATOLL FEATURES
LOCATION
