Opportunity to become Equity Partners Navaagan & Nakachcha Huraa Island

Opportunity to become Equity Partners Navaagan & Nakachcha Huraa Island

NAAVAGAN is presently a sandbank on a large lagoon in the North Male Atoll. The current size is approximately 1 hectare and the sandbank presents an enticing opportunity to reclaim ideally up to 13 hectares according to Environmental Impact Assessment. The location provides a unique opportunity as there is no currently vacant islands near Velana International Airport (previously known as Ibrahim Nasir International Airport) and this lagoon would be the only way such a requirement could be met.
The island is 23 KM away from Male and can be reached within 35 minutes by speedboat. The project consists of reclaiming an area of 8 hectares for the construction of a resort. The resort will consist of 200 units which will include 100 water villas, 30 beach villas, 35 Garden Villas, 20 Over water deluxe suites ,10 garden suites and 5 beach suites.
This is a wonderful opportunity for an investor to become an majority equity partner in a location that will undoubtedly be kay in attracting tourism due to its close proximity to the Velana International Airport as well as its unique location in a central area of the lagoon.

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LOCATION : North Male Atoll
SECTOR : Tourism and Hotel
PROJECT VALUE : Investment for Island USD 2.5 Mn , Investment for Resort Construction USD 35Mn
INVESTMENT TYPE : Equity Partner - Current owner is offering majority share for USD 2.5 million and the new investor needs to inject 100% financing.

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