The Tourism Ministry of the Maldives has extended bidding for 16 islands for tourism development purposes.
The previous deadline was on June 10. In an announcement, the Tourism Ministry said that it had extended the deadline to June 24, due to COVID-19.
The Ministry opened bidding for the islands with a lowered acquisition cost, after considering the current investment situation.
An information session is to be held for prospective bidders via zoom on April 29 and registration for the information session is to be made before the 28th.
Some of the islands up for bidding include smaller islets near the original island as well as sandbanks.
Both local and foreign companies are allowed to bid for the islands.
The Tourism Ministry has previously estimated that 2021, is going to be a year full of investments in the industry. The yearly budget has an expected MVR 608.4 million as income from resort development projects. However, the reduced acquisition costs mean that that the figure is somewhat affected.