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