17 September 2007
Report: Jaxlee
Two parties have submitted proposals yesterday for developing the new five-star hotel proposed to be built in the land to the east of Dharubaaruge.
Bids were accepted until September 12, 1300 hrs. The two parties who have submitted the proposals were Handy Work Investment Ltd and Shangri-La Maldives Ltd.
Handy Work Investment, which is a foreign company, has proposed for the first five years a rent range of US$7000-11,000. For the next five years, they have proposed a rent rage of US$5450-11,000. Average leasing rent was US$8200.
Shangri-La Maldives has proposed for the first five years a rent range of US$3970-8070. For the next five years, they have proposed a rent rage of US$2670-8070. Average leasing rent was US$5100.
Earlier this year the Cabinet recommended to the President to construct a five-star hotel in the area near Dharubaaruge. The proposed hotel will replace Nasandhura Palace Hotel.
Nasandhura Palace Hotel, now marking its 26th Anniversary, was opened in 1981 with 31 rooms. The hotel has received many international awards, holding important conferences and events in its seminar hall and spacious restaurant.
VELIDHOO COMMUNITY
velidhoocommunity@gmail.com
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