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Maldives invites bids to build luxury hotel in capital

Aug 30, 2007 (AFP) - The Maldives has invited international investors to bid for the right to construct the tropical nation's first luxury hotel on the island capital Male, officials said Thursday.
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Holidaymakers have made Maldives the richest nation in South Asia, with a per capita income of 2,674 dollars.

Tourism and fishing account for a large share of the nation's economy of just under one billion dollars.
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The proposed development is part of the Maldives' plan to attract a million tourists by 2010 and increase its hotel bed capacity some 80 percent to 36,700 by 2012.

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The government has offered an area of 40,000 square feet (3,716 square meters) on a 25-year lease for the 200-bed hotel, Tourism Minister Mahamood Shougee told AFP.

Male, which measures one square mile (2.

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5 square kilometres), has over a dozen guest houses and small hotels but no five-star property.

"We don't really have a proper five-star hotel in the city, and we expect to fill the void with this proposed hotel development," Shougee said.

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Bids are expected to close on September 16.


No estimate has been given for the value of the project.

The successful bidder must also sell a 30 perc

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