Maldives opens property ownership for foreigners

Wednesday, 20 October 2010 20:36

Soneva Gili Resort in Kaaf atoll Lankanfushi is to sell water villas at internationally competitive prices for the first time in Maldives.

The Six Senses resort will sell 14 four-room water villas for US$7 million each via Cluttons Resorts, a branch of British property consultants, Cluttons LLP.

According to the company’s website, the beautiful villas located within one of the largest lagoons in the Maldives can be owned for 50 years. A five-year construction warranty is provided to the villas with a total built area of circa 1,000 square metre.

The website also noted that every owner would have the right to a profit share through optional rental programme offered for the villas at 20 minutes distance from Male International Airport.

The most expensive villas listed on Cluttons’s website contain two master bedrooms, a guest bedroom, a staff bedroom, a private swimming pool, Jacuzzi, spa, sauna, a gym, a playing ground, home cinema, kitchen, storage, and employee areas are also present.

Deputy Tourism Minister Ismail Yasir said the ministry would arrange for a lease document for the property owner within two weeks.

“The resort will be leased by the Tourism Ministry to the party. With an agreement from that party, the villas will be sold to another party. We are preparing a document to give to buyer that will prove the person’s ownership of the villa,” he said.

The 44 villas planned for Raa atoll Lundhufushi will also be put on sale next month.


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