Gaaf Dhaal Hoandedhdhoo island council has made an announcement seeking a tourism developer for Kandevaarehaa island.

Kandevaarehaa is a small island of about 4.6 hectares within the jurisdiction of Hoandedhdhoo. The deadline for bids ends on November 17.

There are several diving spots and about 70 uninhabited islands near Kandevaarehaa.

According to the announcement, the lease period is for 50 years and the successful bidder must complete the construction work within a maximum of two years and six months. The lease acquisition cost is set at USD 700,000 (MVR 10.7 million)

The council estimates that the resort developers can generate USD 38 million and a net profit of USD 22 million annually.