Investors sought for new boutique resort in the Maldives. This is a unique opportunity for a number of reasons. Firstly, this is the ONLY island in all of the Maldives which contains a natural lake in the middle of the island, with a size of approximately 500m to 1km in width and length. It is a populated island with a width of approximately 10km, and a 5 acre zone will be allocated for this project.
The other standout factor is that while other islands have opted to lease the whole island to large hotel chains on long-term deals for astronimical amounts, the owners of this island instead wish to partner with the investors in the project, which slashes the startup capital required, and gives a greater opportunity for success in the venture. An island with a similar size to this project is typically leased for around $10 million US for a 35 year lease.
New resorts are generally moving to pre-fabricated construction materials, as they generally cost around 10% of the regular cost. This will assist in keeping the startup costs to a minimum. Plans for 20 beach units and 20 lakeside units interlinked with an overpass have been submitted to the manufacturers, and an agreement on pricing for the construction has been reached. Other initial costs include perfecting the landscape of the beach and lake, furnishings, and operating capital.
The island chief is partnering with both a local Maldivian and Sri Lankan travel management team in operating the venture. They have identified an international market that is hungry for inexpensive 5-star boutique accommodation, as thousands wish to experience the beauty of the Maldives, yet are put off by the exhorbitant pricing of the regular 5-star hotels. Other benefits of the Maldives include low taxes, sound currency, a highly literate English speaking population, and good infrastructure.
Investors are able to visit the proposed island site quite easily, at just an hours domestic flight and a 20 minute boat ride. It is one of the more easily accessible islands, and with an existing population of around 15,000 people, it already possesses all the infrastructure and labour requirements for the project. Total investment sought is $2.5 million US, of which a fixed share in the business will be offered under a halal business agreement.