USD34 million Kalhudhiyafushi resort relisted for sale
The island is an hour's seaplane ride from Velana International Airport and a 20-minute speed boat ride from Thimarafushi Domestic Airport.
Bank of Maldives (BML) again announced the sale of Kalhudhiyafushi in Thaa atoll, which was granted to Huravee International Private Limited for the development of a resort for defaulting on a loan.
Former MP Hussain Manik Dhon-Manik has shares in the company that defaulted on a BML loan.
This is the third time BML has announced the sale of the island.
The bank is trying to sell the island at auction as the court has allowed the bank to liquidate the island after it filed a civil suit against Huravee International for not paying the dues for the credit facility it had taken in 2016.
The Ministry of Tourism allocated the land to Huravee International on August 24, 2015 for the development of the resort.
According to the bank's announcement for the sale of the auction:
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Bids must be submitted by 12 noon on the 30th of this month
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The minimum bid for the island is USD 34.3 million
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The bidder must keep a non-refundable deposit of USD 100,000 with the bank
Kalhudhiyafushi Plan
A 108-room resort was planned to be developed in Kalhudhiyafushi. Huravee International had decided to develop the resort in collaboration with Spain's Melia Hotels. Thus:
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The resort was scheduled to open in 2017 under the name of "Gran Melia Huravee" but the work is still unfinished
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They tried to open the resort in 2020 as well
The Anti-Corruption Commission (ACC) also investigated the issue of Kalhudhiyafushi released to Hussain Manik Dhon-Manik through MMPRC.
According to the MMPRC fraud report, the acquisition money of the resort was paid to the government by Hussain Manik Dhon-Manik, the then MP for Guraidhoo constituency, from the money he received through SOF.
The island is an hour's seaplane ride from Velana International Airport and a 20-minute speed boat ride from Thimarafushi Domestic Airport.
