The Maldives Marketing and Public Relations Corporation (MMPRC) has invited developers to submit bids for beachfront hotel development at Laamu Atoll Thumburi Guesthouse Island.
Plots of 5,000 and 10,000 square feet are available for 25 years. The 5,000 square feet plots are to be given out at US$ 30,000 per year with a US$ 100,000 acquisition fee, while the 10,000 square feet plots are to be given out at US$ 66,000 per year with a US$ 200,000 acquisition fee.
An MMPRC announcement said bidders must submit documents to the Thumburi project management section at the MMPRC office at Velaanaage in Malé by February 26.
The Thumburi project was launched earlier this year with the aim of making land available on the 17 hectare uninhabited island – as well as the linked Hulhiyandhoo island – for local investors to develop hotels, a diving school, water sports centres, restaurants, and shopping centres.
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