Ministry of Tourism has revealed over 20 bids have been submitted for the islands which were opened for resort development in October last year.
The tourism ministry had opened 18 islands to be leased for resort development last October, and added another three islands to the list in January. Speaking at a press conference held after the Investment Forum, Deputy Director General Ali Shinan said the tourism ministry had extended the duration for bid submission due to the latest COVID-19 outbreak that created difficulties for investors. Responding to a question on whether the duration was extended due to lack of interest among investors, Shinan said there is no concern over a lack of interest, as over 20 bids have already been submitted for the islands. He added the number of bidders have also increased compared to the last two openings for bids.
Winning bidders are required to pay the acquisition cost within 60 days. The tourism ministry said winning bidders will be able to start development works within about three months.
The point system established by the ministry for the bids allocates 60% of points to the price, with priority to be given to the largest bidders. Points will also be given for sustainability and employee training.