The Filladhoo Island Council has announced that developers interested in building a resort on Dhapparu, an area under the island's jurisdiction, must contribute at least USD 1 million toward Corporate Social Responsibility (CSR).
According to information released by the council, in addition to the USD 1 million CSR commitment, the successful bidder will be required to pay a minimum of USD 400,000 as an acquisition cost.
The council has set the annual land rent at USD 3 per square meter. With Dhapparu spanning approximately 2.6 million square meters, the annual lease rent is estimated to generate around USD 6.7 million.
Furthermore, bid documents are priced at MVR 10,000 for locals and MVR 12,000 for foreign investors. A bid security of USD 10,000 is also required to be submitted alongside the proposal.
The project involves a 50-year lease agreement. From the date of signing, the developer will be granted a maximum period of 36 months to complete the development of the site.
Previous government attempts to develop tourism in Dhapparu have been unsuccessful. The former administration had initially removed Dhapparu from the island's jurisdiction for tourism development, but later reversed the decision and returned it to the council following public pressure.
The uninhabited area of Filladhoo was officially designated as a separate entity in 2010. At the time, the government’s plan was to grant a developer the right to build 50 luxury villas on Dhapparu in exchange for constructing housing units on five other islands within Haa Alif Atoll.
Before that project could commence, the government announced a new concept in July 2020, which proposed building high-end villas on Dhapparu and offering residency visas to foreign buyers.
