A new investment opportunity has emerged in Alifu Alifu Atoll as the Mathiveri Island Council officially announced the opening of bids for the development of a tourist hotel in Mathiveri Finolhu, an uninhabited island located near the popular local tourism hub of Mathiveri.
The council aims to transform the pristine island into a dedicated tourism zone, inviting both local and international investors to participate in the development. The project encompasses a total area of 4.411 hectares designated for tourism infrastructure, offering a promising prospect in one of the Maldives’ most vibrant local tourism destinations.
Mathiveri Finolhu was previously handed over to a private developer in 2014 for the construction of a resort. However, due to prolonged project delays and inactivity, the previous agreement was terminated. In 2023, the Maldivian government officially transferred the jurisdiction of the island to the Mathiveri Island Council, enabling the local authority to take the lead in planning and initiating future developments on the island.
According to the announcement issued by the Council, interested parties are required to purchase bid documents priced at approximately USD 5,000. The deadline for bid submission is 24 June, allowing a 10-day window for prospective investors to prepare and submit their proposals.
This initiative reflects the growing interest in expanding tourism infrastructure across inhabited and uninhabited islands through public-private partnerships. Mathiveri, the main island near Mathiveri Finolhu, already boasts a thriving local tourism economy, with close to twenty guesthouses in operation. The island is well known among independent travelers for its hospitality, local cultural experiences, and easy access to marine excursions including snorkeling and diving.
By opening up Mathiveri Finolhu for development, the council intends to further diversify the island’s tourism offerings and attract investment that contributes to sustainable economic growth. The project is expected to enhance employment opportunities for locals, promote small business growth, and increase the overall appeal of Alifu Alifu Atoll as a tourism destination.
Investors interested in participating in the development project are encouraged to obtain detailed information from the Mathiveri Island Council and complete their submissions before the stated deadline. The council has reiterated its commitment to facilitating an open and transparent bidding process and welcomes proposals that align with sustainable and community-inclusive tourism development principles.
This initiative underscores the Maldives’ continuous efforts to expand tourism beyond major resort chains, creating space for diversified investments that empower local councils and communities to actively shape the tourism future of their islands.
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