Hudhufushi lease renewed
14 Apr 2011, 6:51 PM
The Tourism Ministry has renewed the lease for Hudhufushi in Lhaviyani Atoll despite the resort island’s owner owing more than US$85 million in unpaid rent.
According to a 2009 audit report, Hudhufushi’s leasee Abdul Rauf owed US$57.7 million in unpaid rent to the government going back to 2002, the majority of the amount accumulated fines from years of non-payment.
The lease rent owned by the Hudhufushi resort is one of the government’s largest debtors in the tourism sector, and was noted in both the tourism ministry and trade ministry’s audit reports for 2007.
Under the original 35 year lease agreement signed between Rauf and the government in 2000, the resort was to open on June 30, 2002.
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