Resort Development Project on Maldivian Island  Proposed Investment USD 50mn

Resort Development Project on Maldivian Island Proposed Investment USD 50mn

● The proposed Project involves the development of a 4-5 star category resort in the Island of targeting mid-market Asian and European travelers.

● The Island is an uninhabited Island and the Head-Lease rights of the Island has already been acquired for the purpose of constructing a tourist resort.

● The resort will comprise of 200 villas including 75 beach villas, 80 water villa, 20 garden suites, 15 kings villa, 5 twine villas and 5 family villas.

● Land Area 8 Hectare (Lease hold land)

● Distance 25 minutes by a Boat from Male

● Rooms 200 Project Cost USD 50 million (including land)

● Total Investment/Unit Approx. USD 250,000 Construction cost/Unit Approx. USD 225,000(excluding land)

● Construction Period 24 months Bed Tax Charged at a rate of USD 8

● Corporate Tax GST 12%

● 6% Green tax in next year, corporate tax -3 years grace period

● Duty free imports for all the materials

● Project Status Preliminary planning approval received from the Ministry of Tourism Finalizing detailed project plans

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LOCATION : Maldives
SECTOR : Tourism & Hotels
PROJECT VALUE : USD 15Mn
OPPORTUNITY CODE : VBS/OP/18032017/X_2

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