The Maldives Looks to Attract New Investors – 16 Islands Put Up for Auction

In a bid to draw investors, the Maldives has come up with several initiatives including auctioning 16 of its uninhabited islands. Investors had the chance to bid for one of these islands with the first auction taking place in June this year; those who were successful on their bid which included a 50-year lease on the island had to commit to constructing a resort for which they were given 36 months to begin construction.

Amongst the unique aspects of accommodation here is that the best resorts in Maldives are each located on a private island; such properties like Grand Park Kodhipparu, Maldives continue to attract travellers the world over and it’s no surprise that investors would not pass up the chance to own islands and build similar resorts. Additionally, the government is looking to also encourage real estate developments and the construction of integrated resorts, while those who invest a minimum of $250,000 are eligible for a five-year resident visa too.