Ministry of Tourism has decided to lease Bodu Mohoraa to Marine Technology Maldives Private Limited for resort development.
The agreement to lease the island in Vaavu Atoll was signed by the tourism ministry with the majority shareholder of Marine Technology, Parliamentarian Abdulla Jabir.
After signing the agreement, Jabir noted the company has been fighting the case of Bodumohoraa for six years, after Anti-Corruption Commission (ACC) stopped the initial handover of the island to the company. Jabir said he is pleased the company has been granted justice, adding it has reaffirmed his belief in President Ibrahim Mohamed Solih and the administration. He added the company will invest USD 64.5 million to develop the island, noting the draft plan of the development is being devised.
Bodumohoraa was initially used for research purposes of the Marine Research Centre. During the administration of former President Mohamed Nasheed, the island was opened for development in marine culture. However, the island was announced for resort development in 2011.
In 2014, the administration began efforts to lease the island to Marine Technology, before it was stopped by ACC citing corruption in the lease process. The company submitted the case to Civil Court, which ruled in favour of the company in 2017.
However, Supreme Court annulled the Civil Court ruling and removed the judges who issued the ruling. Jabir accuses former President Abdulla Yameen of seizing the island from him.
The agreement to lease Bodumohoraa states the island will be leased to Marine Technology for a period of 50 years. The company is obligated to develop the resort within 36 months.