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Sunday, October 26, 2008

Notification of Awards for 3 islands given

Notification of Awards has been given to three parties who won the bidding opened for the development of tourist resorts under government policy of expanding and developing tourism in inhabited islands
Tourism ministry informed that the Notice of Awards was given for Noonu atoll Huvani, Baa atoll Mendhoo and Ga atoll Lossa. Notice of Award for Noonu atoll Huvani was given to Uniwell Properties Pvt Ltd. Uniwell Properties proposed US $ 32,280,000 as lease rent for 10 years. The company is required to deposit 15 percent of the 10 years proposed lease rent, 15 % of US $ 32,280,000, to the government as advance payment. In this regard the company is expected to pay up, US $ 4,842,000 as advance payment within 21 days from the notification of award.
Notification of Award for Baa atoll Mendhoo was given to Resorts and Hotel Development Corporation Pvt. Ltd. Resorts and Hotel Development Corporation proposed US $ 34,611,000 as 10 year lease rent and the company is expected to submit 15 percent of the lease rent as advance payment to the government with in 21 days from date of the issue of the notice of award. The company in this regard is expected pay US $ 5,191,650 as advance payment.
Notification of Award for Ga atoll Lossa was given to Ali Ahmed of G. Vidhuvaru. Ali Ahmed has proposed a lease rent of US $ 24,600,000 as 10 year lease rent. Ali Ahmed is expected to submit US $ 3,690,000, 15percent of the 10 year proposed lease rent to the government within 21 days of the notification.
According to the tourism ministry the lease agreement will be signed with the respective parties up on receipt of the advance payment.

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