Here’s your chance to have your very own island. The Maldives government is auctioning off 16 of its 1,192 tiny islands spread through the Indian Ocean. The sale will come as a 50-year lease and the conditions require new owners to build island resorts, and no private homes. 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.
Maldives is the lowest country in the world, with average natural ground levels of only 4 ft 11 inches above sea level. In areas where construction exists, however, this has been increased to several meters. More than 80% of the country’s land is composed of coral islands which rise less than 3 feet above sea level. As a result, the Maldives are at high risk of being submerged due to rising sea levels.
So, be ware or get busy. The UN’s Environmental Panel has warned that, at current rates, sea-level rise would be high enough to make the Maldives uninhabitable by 2100.
Auctions have no reserve. All bids must be received before 10 am on June 24.