Y HOSPITALITY

PROJECT
 THUMBURI - Integrated resort project
MALDIVES
PROGRESS
Maldivian tourism has a story and
ours is just beginning....

TABLE OF CONTENTS
WELCOME TO THUMBURI 04
LOCATION 06
KEY COMPONENTS 08
CONCEPT MASTER PLAN 10
OVERALL PLAN 12
INVESTMENT OPPORTUNITIES 14
NEXT STEPS & TIME LINE 28
ABOUT MMPRC 30

Y Hospitality is President Yameens hospitality

Y HOSPITALITY projects which was outlined in the PPM
PROJECT manifesto. This project is the first of many
concepts to be announced.

PAGE 2 . Invest in Maldives tourism

 THUMBURI - Integrated resort project
MALDIVES
WELCOME TO THUMBURI
Integrated resort development
THUMBURI - Integrated resort development project is the embodiment of President
Yameens vision for guest house islands which was outlined in the PPM tourism
manifesto. This project will responsibly diversify the tourism product of Maldives to
the mid market segment with social and economic development for the region.
Targeted at local SMEs in the tourism industry - what you hold is a glimpse of how
the project will pan out with investment opportunities in different sub sectors.

VISION
Our vision is to become the Maldivess first integrated resort development
and to responsibly kick start the countrys mid market property segment
while giving opportunity to invest in tourism to the small and medium
businesses.

Common infrastructure
The project will be designed such that each investor can come in and start their
developments as we will have common infrastructures like electricity, sewerage,
water and jetty services developed.

PAGE 3 . Invest in Maldives tourism

 THUMBURI - Integrated resort project
MALDIVES
India

Srilanka

Maldives

Location
The strategic location for the
project would be the currently
untapped atoll of Laamu.
The island will be accessible via
30min domestic flight from Male
International airport, followed by a
short 15min boat ride.

Laamu Atoll Maldive Atolls

Located in Laamu Atoll, a
renowned diving and fishing
destination. There is 1 domestic
airport in the atoll

OPERATING PROPERTIES IN LAAMU

- Six senses Laamu
MALE' ATOLL

INIA
int. airport
- Gasgandufinolhu
- Bodufinolhu
- Riveries - guesthouse
Laamu Atoll

Kahdhoo
Airport

PAGE 4 . Invest in Maldives tourism

 THUMBURI - Integrated resort project
Key Components
Below listed will be the key
components of the project
including the service and
management functions

MALDIVES
Open spaces / green parks Beach hotels - 1 ha+ land and sea based - 3 plots
Management offices Beach hotels - 10,000 sqft - 5 plots
Utilities Beach hotels - 5,000 sqft - 15 plots
Staff quarters Beach clubs / bars - 2 plots
Jetties Dive school / Water sports Center- 2 plots
Sports and recreation zone Speciality restaurants - 6 plots
Emergency Services Spa + wellness centers - 2 plots
Hospital Shoppng center / Guest shops - 2 plots

PAGE 5 . Invest in Maldives tourism

 THUMBURI - Integrated resort project
Concept Master Plan

MALDIVES
PAGE 6 . Invest in Maldives tourism
 THUMBURI - Integrated resort project
MALDIVES
Overall Plan

PAGE 7 . Invest in Maldives tourism

 THUMBURI - Integrated resort project
MALDIVES
INVESTMENT OPPORTUNITIES
Hospitality
THUMBURIs vision and its proposed development plan ensure that
the future hospitality assets are positioned across demand high
market segments from budget hotels to mid market beach front
resorts.

The project offers the opportunity to invest in prime sites for

mid market hospitality developments as well as sub-sector
developments. The project creates an opportunity to capitalize on
the strong expected demand emanating for the growing market
specifically mid market.

Each property type is to be positioned to cater to the specific

requirements and needs of the expected demand generators.

The project offers a significant number of opportunities for

investment, supported by key sub-elements all which drive growth
and sustainability to the region. We have earmarked key sites for
development into various hospitality projects.

PAGE 8 . Invest in Maldives tourism

 THUMBURI - Integrated resort project
Investment opportunity

MALDIVES
MID MARKET PROPERTIES
BEACH RESORT HOTEL 1ha+.
Land & Sea based rooms
These three mid market developments will be the leading hospitality
asset within the project. The proposed hotels will benefit from a 1
hectare plus site with an extensive private beach and lagoon area.
These will be the only properties within the project which will allow
sea based villas. The three sites are perfectly positioned for the
development of a resort hotel catering to the leisure demand of
Maldives.
2
1

SITE INFORMATION SUMMARY PROPOSED FACILITY SCHEDULE

Location Beach front Number of rooms 100
Plot area 1 ha + Room size (estimate) 22 - 26m2
Ownership structure Leasehold - 50 years F&B outlets All day dining, Lobby lounge / cafe
Proposed positioning Mid market Leisure facilities Fitness center, swimming pool
Estimated GFA ... Meeting rooms 2 - 4 rooms
Proposed lots 3
PROJECTED PERFORMANCE LEVELS - stabilized year
Construction time-frame 30 months
Estimated development costs US$ 15m Occupancy (%) 70 - 80

Projected IRR 15% - 17% Average daily rate (est.) US$ 150 - 200
Gross operating profit (%) 45 - 50

PAGE 9 . Invest in Maldives tourism

 THUMBURI - Integrated resort project
Investment opportunity

MID MARKET PROPERTIES

MALDIVES
BEACH HOTEL 10,000 sq ft.
These beach front 10,000 feet plots would be an excellent
opportunity for the development of boutique beach hotels. The
sites beach front location and proximity to central common areas
is conducive for the hotel and is expected to become a popular
destination.

4
3

2
1

SITE INFORMATION SUMMARY PROPOSED FACILITY SCHEDULE

Location Beach front Number of rooms Max. 50
Plot area 10,000 sq feet Room size (estimate) 22 - 26m2
Ownership structure Leasehold - 25 years caf style restaurant serving breakfast
F&B outlets
Proposed positioning Mid market and snacks for in-house guests
Estimated GFA ... Leisure facilities Fitness center, swimming pool
Proposed lots 5 Meeting rooms 1 - 2 rooms
Construction time-frame 30 months
Estimated development costs US$ 3.5m PROJECTED PERFORMANCE LEVELS - stabilized year
Projected IRR 15% - 17%
Occupancy (%) 70 - 80
Average daily rate (est.) US$ 100 - 200
Gross operating profit (%) 45 - 50

PAGE 10 . Invest in Maldives tourism

 THUMBURI - Integrated resort project
Investment opportunity

MID MARKET PROPERTIES

MALDIVES
BEACH HOTEL 5,000 sq ft.
Smaller than the previous properties, these plots also be a great
opportunity for the development of boutique beach hotels. The
sites beach front location and proximity to central common areas
is conducive for the hotel and is expected to become a popular
destination.

15
1 7
1 14
2 8 10 13
3 12

4 9
6 11

5
6

SITE INFORMATION SUMMARY PROPOSED FACILITY SCHEDULE

Location Beach front Number of rooms Max. 25
Plot area 5,000 sq feet Room size (estimate) 22 - 26m2
Ownership structure Leasehold - 25 years caf style restaurant serving breakfast
F&B outlets
Proposed positioning Mid market and snacks for in-house guests

Estimated GFA ... Leisure facilities Fitness center, swimming pool

Proposed lots 15 Meeting rooms 1 - 2 rooms

Construction time-frame 30 months

Estimated development costs US$ 1.8m PROJECTED PERFORMANCE LEVELS - stabilized year
Projected IRR 15% - 17% Occupancy (%) 70 - 80
Average daily rate (est.) US$ 100 - 200
Gross operating profit (%) 45 - 50

PAGE 11 . Invest in Maldives tourism

 THUMBURI - Integrated resort project
Investment opportunity Investment opportunity

SUB-SECTOR DEVELOPMENTS SUB-SECTOR DEVELOPMENTS

BEACH CLUB
First of its kind in Maldives - exclusive beach clubs. The project
proposes to have two dedicated beach front plots of 10,000 sq-ft for
the development of these clubs.
MALDIVES
DIVE / WATER SPORTS CENTER
One of the most profitable ventures in Maldives - water sports and
diving. The project has 3 strategic locations for the development of
these centers located close proximity to the beach and one at the
end of the arrival jetty.

1
2 2

1 3

SITE INFORMATION SUMMARY SITE INFORMATION SUMMARY

Location Beach front Location Beach / jetty
Plot area 5,000 sq feet Plot area tbc
Ownership structure Leasehold - 15 years Ownership structure Leasehold - 15 years
Proposed positioning Mid market property Proposed positioning Mid market property
Estimated GFA ... Estimated GFA ...
Proposed lots 2 Proposed lots 3
Construction time-frame 30 months Construction time-frame 30 months
Estimated development costs US$ 1.5m Estimated development costs US$ 1m
Projected IRR 15% - 17% Projected IRR 15% - 17%

PAGE 12 . Invest in Maldives tourism

 THUMBURI - Integrated resort project
Investment opportunity Investment opportunity

SUB-SECTOR DEVELOPMENTS SUB-SECTOR DEVELOPMENTS

SPECIALTY RESTAURANTS / FOOD COURTS
The project offers investment opportunities for specialty restaurants
for 6 proposed lots within the site. The sites created opportunity
to capitalize on the strong expected demand emanating from the
developments near by.
MALDIVES
SPA & WELLNESS CENTERS
The project offers investment opportunities for spa and wellness
centers for 2 proposed lots within the site. The sites created
opportunity to capitalize on the strong expected demand emanating
from the developments near by.

1 2

4 2
6
3 5

SITE INFORMATION SUMMARY SITE INFORMATION SUMMARY

Location Within the island Location Within the island
Plot area tbc Plot area tbc
Ownership structure Leasehold - 15 years Ownership structure Leasehold - 15 years
Proposed positioning Mid market Proposed positioning Mid market
Estimated GFA ... Estimated GFA ...
Proposed lots 6 Proposed lots 2
Construction time-frame 30 months Construction time-frame 30 months
Estimated development costs US$ 750k Estimated development costs US$ 750k
Projected IRR 15% - 17% Projected IRR 15% - 17%

PAGE 13 . Invest in Maldives tourism

 THUMBURI - Integrated resort project
Investment opportunity

SUB-SECTOR DEVELOPMENTS

MALDIVES
SHOPPING / GUEST SHOPS
The project offers investment opportunities for shopping /
guest shops for 2 proposed lots within the site. The sites created
opportunity to capitalize on the strong expected demand emanating
from the developments near by.

1
2

SITE INFORMATION SUMMARY

Location Within the island
Plot area tbc
Ownership structure Leasehold - 15 years
Proposed positioning Mid market
Estimated GFA ...
Proposed lots 10 - sub-lots
Construction time-frame 30 months
Estimated development costs US$ 250k
Projected IRR 15% - 17%

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 THUMBURI - Integrated resort project
INVESTMENT OPPORTUNITIES NEXT STEPS

MALDIVES
FINANCIAL SUMMARY & BID SUBMISSION
Find below financial summary for investing in the project Below outlines the project bid submission process

HOSPITALITY DEVELOPMENTS Request for Expression of Interest

No. of Land acquisition Annual Rental
Property / type No. of lots STEP 1 MMPRC will formally announce for expression Interest.
PHASE 1

rooms cost USD USD

will be uploaded to our website
Beach hotels - 1ha+ land and sea based villas 100 1,000,000 3 675,000 www.investtourism.gov.mv
Beach hotels - 10,000 sq-ft 50 200,000 5 66,000
Beach hotels - 5,000 sq-ft 25 100,000 15 30,000

Submission of Expressions of Interest

STEP 2 All submissions of EOI shall be marked and addressed as
follows:
SUB-SECTOR DEVELOPMENTS EOI FOR THUMBURI INTEGRATED RESORT
Land acquisition Annual Rental DEVELOPMENT PROJECT
Property / type No. of lots
cost USD USD Maldives Marketing & PR Corporation
Beach clubs / bars 75,000 2 n/a Velaanaage, 4th Floor, Ameer Ahmed Magu,
Dive school 50,000 2 n/a Male 20096, Republic of Maldives.
PHASE 2

Water sports Center 50,000 3 n/a

Specialty restaurants / food courts 50,000 6 n/a
Spa + wellness centers 50,000 3 n/a Evaluation process
Guest shops 20,000 10 n/a STEP 3 Upon receipt of the expression of interest, an evaluation based on
the background and capacity of the parties will be conducted by the
Sports and recreational centers 20,000 3 n/a
corporation.

LEASEHOLD PERIOD
Hospitality developments Project award & agreement Signing
The 1 ha beach resort hotel will have a a leasehold period of 50 years with a 2.5 years grace STEP 4 Award letter shall be issued to the selected parties to pay the land
priod for construction. acquisition cost and proceed with signing the lease agreement with
The 5,000sq ft and 10,000sqft beach hotels will have a a leasehold period of 25 years with a 2.5 MMPRC.
years grace priod for construction.
Sub-sector developments
Sub-sector developments will have a leasehold period of 15 years with a 2.5 year grace period.

PAGE 15 . Invest in Maldives tourism

 THUMBURI - Integrated resort project
MALDIVES
About us
Maldives Marketing & PR
Corporation
The Maldives Marketing & Public Relations Corporation (MMPRC)
is the national tourism office of Maldives responsible for carrying
out promotional activities to become the most preferred island
destination of the world under the theme of Maldives...the Sunny
Side of Life; whilst adhering to its mission to promote quality and
sustainable growth in the local tourism industry to deliver long term
economic, social and cultural benefits to the country.

MALDIVES MARKETING & PR CORPORATION

4th Floor, Velaanaage, Ameer Ahmed Magu,
Mal, Republic of Maldives
Tel: +(960) 332 3228 Fax: +(960) 332 3229
E-mail: info@visitmaldives.com

Disclaimer: You should seek independent professional advice and conduct your own due diligence before proceeding with any
investment opportunity. To the extent permitted by law, Maldives Marketing and Public Relations Corporation (MMPRC) excludes
all liability for loss or damage arising from the use of, or reliance on, the information contained on or accessed through this
document whether or not caused by any negligence on the part of MMPRC, its officers or its agents.

PAGE 16 . Invest in Maldives tourism

Maldives Marketing and Public
Relations Corporation
Ministry of Tourism
Government of Maldives
www.investtourism.gov.mv