Maldives Ministry of Tourism, but they will need to adhere to guidelines on construction, environmental practices and the minimum number of beds.
Interest has come from all over the world, says Maishan, “but mainly from companies, as foreign individuals are not eligible to submit bids in this auction”.
Novel as it seems here, however, to give a shifty nod and walk away with a private island, auctioning off its assets is nothing new in the Maldives, points out Sonu Shivdasani, founder of the region’s ultra-luxury, eco-focused Soneva Fushi and Soneva Jani resorts. “It’s how the Maldives is developed,” he says. “The last government auctioned off around 40 or so islands to developers in its five-year term, and this is the first time the current.
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