Hulhumale to develop eighty bed hotel

Male: Hulhumale’ Development Corporation has held a pre bid meeting for the development of a Marina inclusive of an Eighty Bed Hotel in the western lagoon area of Hulhumale'.

The pre bid meeting was held at Nasandhura Palace Hotel at 1300 hours. The development of a Yacht Marina inclusive of a Hotel in the western lagoon of Hulhumale’ is HDC’s second venture into large scale undertakings. The first was announced last year: a Five Star Hotel project awarded to State Trading Organization, now being developed under the Radisson brand of the internationally renowned hotel chain, Carlson Hotels Worldwide.

Located at the Bay Front area of Hulhumale’, and backed by readily available demand as evidenced by the increasing number of safari boats and yachts anchored in the Hulhumale’ lagoon, the Marina project offers great potential for real estate developers and tourism investors alike. Maldives Liveaboard Association (LAM), states that over 95% of vessels registered with them use the Hulhumale’ lagoon for anchorage.

An area of 150,000 square meters of the western lagoon of Hulhumale’ is allocated for the project. Out of this approximately 40,000 square meters shall be reclaimed and the remainder would accommodate berthing facilities for at least 60 yachts / safari boats. The reclaimed area shall be utilized to house the Eighty Bed Hotel plus other ancillary services such as fuel refilling, water supply, cyber café, souvenir shops, etc. An equal investment opportunity for the project is open to both local and foreign individuals, partnerships and companies. The proposed lease period is 25 years; however the Corporation is flexible to extending the lease period with the successful bidder in compliance with the relevant laws and regulations of the country.

The Bay Front area of Hulhumale’, offers a multitude of retail, recreation and entertainment activities with the potential to cater to large segments of the international, regional and local consumer markets. Apart from the Five Star Hotel and the Yacht Marina, the Bay Front promenade is planned to feature a large shopping complex and an assortment of shops and café’s dotted along the promenade, which the Corporation plans to announce for bidding within the year.