STO seeks investor for new resort

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The State Trading Organisation (STO) is seeking an investor to develop a resort in Ekulhivaru island in Noonu atoll. 

Ekulhivaru island, located 200 kilometers away from Velana International Airport, can be reached by a 40-minute seaplane ride or via the nearby Maafaru Airport in Noonu atoll. The island offers over 19.2 hectares of untouched tropical vegetation, crowned with tall coconut palms. The reef system hosting the island is 1,175 meters long with a maximum width of 809 meters.

The leasehold rights of the island is currently owned by STO, one of the largest companies win the country. Its businesses range from the provision of staple foods, medical supplies, and fuel, along with a range of other products and services including construction materials and tools, FMCG and consumer electronics. For more than 50 years, the company has been instrumental in the country’s development. 

The company invites interested local and foreign firms and businesses to submit their Expressions of Interest, before 1400 hrs on 6 November. Queries are to be sent via email to [email protected] by 1400hrs of 24 October.  

The general requirements are stated in the Terms of Reference. Please visit for more information.