17 New Islands In Maldives For Sale

08 JUNE 2024
In June this year the government of Maldives has announced lease of new islands for tourism development. The announcement made by the Ministry Of Tourism on 1 June 2024 include 17 new islands to be leased for 50 years, extendable for up to 99 years with additional payments. Interested parties can submit proposal for the development tourist facility. The 17 allocated spots in various atoll include uninhabited islands as well as lagoons. Previously we have offered a cluster of 3 islands in a massive lagoon, that is still available for the right buyer.




Vihafarufinolhu

Some of the islands are very tiny, in fact the smallest of all measures just 0.28 hectare. Named as Vihafarufinolhu, it is a sandbank located in north Lhaviyani Atoll next to Palm Beach Island Resort & Spa. Vihafaru Finolhu is situated in its own lagoon that stretches to 105 hectares. Lease Acquisition Cost (LAC) for this island is $640,000. There is an additional premium $500,000 for the location. Both are one-time costs and there will be an annual rent appliable to all tourist resorts.

Photo: Vihafarufinolhu (Vihafaru Finolhu) - Google Maps

To those interested in submitting proposals we are pleased to announce that we do provide investment consulting service with 20 years of experience in Maldives tourism industry. While it is expected that this opportunity will attract several foreign investors the components in the proposal will be the primate factor that would determine success or failure in acquiring a Maldives island. In the past the government had leased new islands for proposal that included development of domestic airport, Corporate Social Responsibility initiatives such as human resource development in tourism sector with sound approach and implementation of the programs lasting for several years. Waste management, environment protection and clean energy are also among the government interests. In Maldives there are some local residential islands that are very small in population, despite being small they too require facilities such as education or health. Maldives Finest has in-depth experience and knowledge in various industries to draft low-cost proposals that may be attractive to the government.


Alikoirah (Alikoi Rah)

Located in Alifu Alifu atoll, Alikoi Rah (also spelled as Alikoirah) may be the best island to develop a private retreat. Measuring just 1.47 hectares at a price tag of $1.9m means a private retreat can be fully complete under $10 million. A circular house reef protects the beach from all sides. Therefore, water breakers or artificial barriers are not needed for Alikoirah. Sustainability is one of the key area to consider while buying an island. In Maldives there are 2 seasons, beaches in many islands receive impact in monsoon changes and companies are compelled to erect barriers to tackle the problem. Naturally protected island should be given priority if you are planning to buy an island that sustains the charm of its white sandy shores. Without considering environmental factors means soil erosion could lead to crack concrete structures. Some resorts learned the lesson from experience. But, experienced industry professionals in Maldives can use their knowledge and experience to avoid many potential risks which foreign investors may not be aware.

Photo: Alikoirah by Google Maps

Alikoi Rah also needs a small harbour to vessels safe in all weather conditions and seasons. Environment Impact Assessment Report should be made to build the harbour at the best location that serves best in 2 seasons. Currently there are 2 tiny access channels that small local boats may use but the channel requires extra work to facilitate easy access. There is no natural harbour at Alikoirah. Other than these factors the island is perfect for a luxury retreat with few villa to be used by the owner or rent exclusively for couples and families, just like Voavah private island by Four Seasons Resorts or Ithaafushi by Waldorf Astoria. Ithaafushi private island in Male Atoll rents at a price of $95000 per night subject to taxes and service charge, discounts are given in summer and other low business months.

Photo: Alikoirah by Google Maps

This pristine patch of pure bliss stands out from the 17 new islands for sale in Maldives. The prime advantage of Alikoirah is its location. The distance between Velana International Airiport and Alikoirah is 75 km, about 90 minutes by speedboat or 30 minutes by seaplane. Most of the islands in Alifu Alifu atoll and Alifu Dhaalu atoll are already occupied and this is one of the few remaining isles that is close to capital Male’ and airport. Both atolls collectively called Ari Atoll, this region is well known among the tourists especially for rich marine life including manta rays and shake sharks. In fact the closest reef to Alikoirah comes with some unique features which indicate it could be a spot for seeing whale sharks an mantas during of these 2 seasons, there is a large blue sea surrounded by coral reef except a tiny opening at the side of Alikoi Rah. Planktons produced by reef can be concentrated to the blue hole and mantas can access to feed on them. Many other reefs around are beautiful even to see from bird’s eye view.


Dhiffushi and Maidhoo

Located in Lhaviyani atoll in the northern parts of Maldives, Dhiffushi and Maidhoo are now available to buy for resort development. The 2 islands next to each other is collectively called Dhiffushimaidhoo. The map now shows both islands as one. Formation of vegetation indicates the islands were not separated for at least few years. Buyer can either separate the two and manage as 2 different resorts or just one resort with 2 islands. In recent years more resorts are coming up with more than one island, for example the Cheval Blanc Randheli offers a cluster of 5 islands of which 3 are inter-connected. Ritz Carlton Maldives contains 3 islands and a village of water villas all connected together.

Photo: Dhiffushi and Maadhoo by Google Maps

Dhiffushi and Maidhoo combined makes one of the longest islands in the Maldives, it measures about 5 km in length but narrow as 80 meter. This gives a unique advantage to the owner. All resorts pay a fixed annual fee to the government, this is based on the land size in hectares. When you have more beach space compared to overall size of the island you can build more Beach Villas with less fixed cost. Dhiffushi and Maidhoo would be ideal to build free-hold luxury villas as well.

Some hotel companies such as Soneva Resorts sell villas for those who want to own a property in Maldives. Villa owner can decide to let the resort rent the villa to guests and generate income to recover investment or just keep it for personal use all throughout the year. People who bought villas can also enjoy other facilities in the resort such as restaurant or spa at discounted pricing. Soneva provides electricity, man power such as the butler and do maintenance in liaison with the villa owner. Privately owned villas can be customized or rebuilt the way you want. Maidhoo would be perfect to build private Beach Residence with no other villas around in the vicinity. This means each villa owner would also own a section of land. Since the island is narrow there can be just one pathway for access and private land could also be fenced off for total privacy. Soneva Group sells their Private Residences for around $5m - $15m a unit, sizes vary from 2 bedrooms to staggering 8 bedrooms.

Getting to Maidhoo or Dhiffushi takes a scenic seaplane ride of about 40 minutes. The first resort in this region of the country was opened in 1988 and is still in operation, it offers 389 rooms. After 36 years of tourism in Lhaviyani atoll the government is selling out last few remaining islands. Kudadoo Private Island is the most luxurious hotel in this region, a night there during the winter could cost about $7000. Hurawalhi is also another luxury resort, it is known for its underwater restaurant which also welcomes guests from other resorts. Maldives Finest offers holiday packages with underwater dining included along with other luxury expeditions such as luxury yacht cruising.


Sandbank in Vaavu Atoll

Vaavu Atoll is one of the most demanding tourism locations in the country as it is close to Male’ International Airport (Velana International Airport). Among the 17 islands available to purchase there is a sandbank in Vaavu Atoll for $729000, subject to premium charges for location. The lagoon has enough space to reclaim an island of about 2 hectares. This makes it perfect to build a small private island for personal use or exclusive rental business. Even after reclaiming 2 hectare land there is space in lagoon to build few units of water villa. Alternatively, it would also be ideal to build a small water village without any land reclamation, this would certainly save building costs and the business model has already been proven successful. Take a look at Angsana Velavaru. It is a small town over the water with 34 two-storey luxury villas. There is a tiny island belonging to the same resort but offers very few Beach Villas. Angsana Velavaru is mostly located overwater.

Sandbank for sale in Vaavu Atoll, photo by Google Maps

Getting to this sandbank requires a speedboat transfer of about 90 minutes from Velana International Airport. Most of the resorts that take an hour or more for speedboat journey usually offers more than one mode of transfer for guests to choose. Seaplane transfer will take about 30 minutes, witnessing difference colours of lagoons and islands of different shapes and sizes would be a mesmerizing experience. The closest resort is Nakai Alimatha which is a 4 star hotel, about 5 minutes by speedboat to get there. There are additional lagoon on both sides and a separate sandbank that takes just a minute to go there.

Buying a small island has its own advantages. If you want to start your own Maldives island with a small investment that costs less to acquire as well as low annual rent then the sandbank or small plot of lagoon would be ideal. If you plan to build an average resort that needs more space, one option is to buy an island of the suitable size and other is to buy a lagoon and reclaim land based on your plans. Since Vaavu is one of the prime spots for tourism development there has been new openings in the recent years. Cinnamon Velifushi was opened in 2019, it is about 7 minutes by speedboat from the sandbank assigned for this sale.

Consult With Us
Consult with us to buy Maldives island directly from the government or already leased island from private owners. We also offer consultancy in other tourism related fields such as sustainability, land reclamation, environmental impacts etc. With over 20 years of island experience we can help you avoid mistakes made by other investors.
17 New Islands In Maldives For Sale #Maldives #Malediven #Maldivas #Maldivler #Maldivas #Maledivy

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