Bidding to open today for the Thilafushi leasing lands

Thilafushi Cooperation Limited (TCL) said today that the bid application for the leasing lands in Thilafushi will be started from today morning 10.00 till 11.30 at night, in the Traders Hotel. The Corporation also revealed that after the bidding hours are concluded, in the presence of everyone, applications will be opened and the information will be recorded on a special sheet.

Lands leased from Thilafushi will be for a period of 35 years. For the first year, lands will be leased for Rf. 1.50 per sq.ft and for the fourth and fifth year lands will be leased for Rf.2.50 per sq.ft. TCL also said that on the sixth year, rates will be changed according to the change in inflation. The Corporation also highlighted that priority will be given to bidders who propose bigger advances.

The first phase of lands are to be leased for Construction godowns which are of 20 lands of 20,000 sq.ft and 20 lands for Timber and carpentry work which are of 10,000 sq.ft and 20 lands for sawmills and industrial work which are of 5,000 sq.ft and 4 lands for various other purposes which are of 20,000 sq.ft and also 74 other lands for other uses which are of 2000 sq.ft.

According to TCL, it has in its plans to build an Internal Port and a Container Terminal in the 157 hectors to be reclaimed.