The Bank of Ceylon (BOC) has announced it will sell the leasehold rights to the Drift Thelu Veliga Retreat, a five-star resort nestled in the South Ari Atoll of the Maldives. As a result of a Civil Court judgment regarding proven debt, the bank has gained the authority to sell the resort.
The lease for the opulent 30-room resort is currently valid until 2064. The winning bidder will have the potential to extend the lease by an additional 49 years, as permitted by the Maldives Tourism Act. The Bank of Ceylon has established a reserve price of USD 21.14 million for this exclusive opportunity.
Interested parties may acquire the necessary tender applications and documents following payment of a USD 2,000 non-refundable fee. A USD 25,000 deposit is also mandated to participate in the bidding process. The deadline to submit final bids is the 23rd of next month at 2:00 pm.
Should their bid be successful, the buyer will be obligated to pay 25% of the total bid price within 30 days. The remaining balance is due within a 60-day period.
