The Maldives archipelago consists of 1,190 tiny islands spread through the Indian Ocean, and the government is auctioning off 16 of them. The sale will come as a 50-year lease and the conditions require new owners to build island resorts. No private estates allowed. Construction has to begin within 36 months of purchase and must respect the area’s pristine surroundings. Each island ranges in size, with the largest measuring in at 42 acres, and actions will not include a reserve. Prospective bidders must hand in documents and applications to the Ministry of Tourism by June 6, 2021, along with a non-refundable fee. All bids must be placed by June 10.
