PRODUCT NEWS
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Paradise leased? Uninhabited Maldivian island with resort permits put on the market |
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25 Sep 2014 . BY Helen Andrews |
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The island has a natural port, allowing boats and seaplanes to berth without interfering too much with the natural landscape / Debutesq Group |
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The uninhabited Maldivian island of Orivaru – one of 71 islands that form the Noonu Atoll – is up for sale with an asking price of £8.5m (US$13.9m, €10.9m).
The 34.6-acre island, ringed by a white sand beach, comes complete with permits issued by the Maldivian Ministry of Tourism to develop restaurants, guest lounges, pools, a spa, plus almost 100-bedrooms and waterfront villas.
Luxury real estate firm Debutesq Group listed the property, located 45 minutes by seaplane from the capital Male. There is nothing on the island currently and the closest inhabited island is home to the Hilton Iru Fushi Resort. Only 13 of the 71 Noonu Atoll are currently inhabited.
The island is currently held on a long leasehold from the Maldivian government, but such leases are frequently renegotiated and extended, according to Debutesq Group. For the last two years, Orivaru has been owned by a Maldivian registered company led by a property investor from the Czech Republic.
The island also has a natural port, allowing boats and seaplanes to berth without interfering too much with the natural landscape.
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