MALDIVES WORLD ATOLL PROJECT

MASTER PLAN

MALDIVES WORLD ATOLL PROJECT MASTER PLAN

CONTENTS

1. PROJECT TITLE .................................................................................................. 4 2. INITIATING AGENCY ........................................................................................ 4 3. EXECUTING AGENCY ....................................................................................... 4 4. LOCATION AND GEOGRAPHIC COVERAGE ................................................. 4 5. OBJECTIVES OF THE PROJECT ........................................................................ 4 6. COMPONENTS AND TIMEFRAME OF THE PROJECT ................................... 5 6.1 Components of the Project .......................................................................... 5 Infrastructure development ................................................................... 5 6.1.1

6.1.2 Tourism facilities and Development of Tourism Real Estates & Properties .......................................................................................................... 5 6.1.3 Construction of New Urban Centre in USP........................................... 6 6.1.4 Vocational Training Program provided to the local Maldivian for the Project. 6 6.2 Timeframe of the Project ............................................................................. 6 7. DETAILED PLAN OF THE MALDIVES WORLD ATOLL PROJECT ............... 6 7.1 CONSTRUCTION OF NEW URBAN CENTRES .......................................... 6 7.1.1 North part of Urban Centre: ...................................................................... 7 7.1.2 East part of Urban Centre .......................................................................... 8 7.2 CONSTRUCTION OF ROAD AND BRIDGE ................................................ 8 7.3 CONSTRUCTION OF TOURISM FACILITIES AND DEVELOPMENT OF TOURISM REAL ESTATES AND PROPERTIES - TIMESHARE HOLIDAY APARTMENTS AND VILLAS. ........................................................................... 9 7.3.1 CONSTRUCTION OF TOURISM FACILITIES ...................................... 9 7.3.2 DEVELOPMENT OF TOURISM REAL ESTATES---TIMESHARE HOLIDAY APARTMENTS AND VILLAS. ..................................................... 9 7.3.3 VOCATIONAL TRAINING PROGRAMME ......................................... 10 7.3.4 AGRICULTURE AND SEA WATER AQUACULTURE ...................... 10 7.3.5 ISLANDS PROTECTION AND ENVIRONMENT SENSITIVE ISLANDS ........................................................................................................ 10 8. BENEFICIARIES, TARGETS AND VALUE OF THE PROJECT ..................... 10 9. THE SOCIAL RESPONSIBILITIES OF THE MALDIVES WORLD ATOLLS PROJECTS ............................................................................................................. 11 ----------------------------------------------Exhibition and Travel Group (ETG)
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9.1 ENVIRONMENT PROTECTION ................................................................. 11 9.2 APPLICATION OF GREEN POWER AND ECO ENERGY ........................ 11 9.3 VOCATIONAL TRAINING AND EMPLOYMENT PRIORITY .................. 11 9.4 WOMENS DEVELOPMENT ...................................................................... 11 9.5 DEVELOPMENT OF AGRICULTURE AND FISHERY ............................. 12 9.6 DEVELOPMENT OF TRADITIONAL CULTURE ...................................... 12 9.7 RELIGION AND CUSTOM .......................................................................... 12 9.8 SPORT FACILITES ...................................................................................... 12 10. CONCERNED ISSUES TO BE FACILITATED BY GOVERNMENT OF MALDIVES ............................................................................................................ 12

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MALDIVES WORLD ATOLL PROJECT MASTER PLAN

MALDIVES WORLD ATOLL PROJECT MASTER PLAN 1. PROJECT TITLE

Maldives World Atoll Tourism Project

2. INITIATING AGENCY
The Chengdu Century City New International Convention and Exhibition Centre Company Limited, (a company among ETG companies) registry number: 510109000064298, having its registered office in Dayuan Area, Nanyanxian Chengdu City, Sichuan Province, Peoples Republic of China. (hereafter referred as ETG)

3. EXECUTING AGENCY
The entity of ETG incorporated in the Republic of Maldives

4. LOCATION AND GEOGRAPHIC COVERAGE

The location and geographic coverage includes Huvadhu Atholhu Uthuruburi and Huvadhu Atholhu Dhekunuburi (hereafter referred as USP). ETG will take all available islands provided and confirmed by Government of Maldives in USP to develop this project. (All available islands and its lagoon listed in the EXCEL table). Generally, all atolls and islands will be used for the development of the project except these unavailable islands that have been signed or used for other projects.

5. OBJECTIVES OF THE PROJECT

Long term objectives of the Project are to establish a world class tourism and holiday destination and become the top level tourism, holiday, convention & exhibition and entertainment centre in Southern Asia and Indian Ocean and will be the transport hub linking Asia, Africa and Europe. With the development of the Maldives World Atoll Project, the USP will receive more than one million tourists from China, Asia and world-wide annually within five years. Numbers of tourists will increase to 3 million within ten years and 5 million within 15 years when the whole project is accomplished. Estimated total construction areas of the Maldives World Atoll Project will be up to 10 million to 12 million square meters.

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MALDIVES WORLD ATOLL PROJECT MASTER PLAN

The Maldives World Atoll Project in USP will make Maldives to have two tourism areas both in the north and the south of Maldives, which will drive the economic development of the atolls in the south of Maldives and bring sufficient employment opportunities to the people in USP and that of other part of Maldives and increase the income of the people. With the development of residential area and associated infrastructure, the living standard of local people will be improved significantly; meanwhile the income of Government also will be increased. 3000 local people will be trained and will have the job opportunities from the project.

6. COMPONENTS AND TIMEFRAME OF THE PROJECT 6.1Components of the Project

The Maldives World Atoll Project is a mega project. The components of the project include four main directions: 1- Infrastructure development; 2Development of tourism facilities and tourism real estates & properties; 3Construction of New Urban Centre; 4- Vocational Training Programs provided to the local people.

6.1.1 Infrastructure development

Development of Infrastructure includes: Roads and Bridges (linking THINADHOO and KAADEDHDHOO Airport, and MADAVELI and HOADEHDHOO), Reclamation ( 30 Hectares) of north of THINADHOO and area between MADAVELI and HOADEHDHOO), Shore Protection, Schools (from kindergarten to high school), Training Centre, Parks, Hospital, Sport Facilities, Mosques, Library, Commercial Facilities, Theater and Cinemas, Power Plant, Water Supply facilities, Sewage water treatment, Rubbish Treatment, Sea port and Harbor etc. (Note: all public facilities: Schools (from kindergarten to high school), Training Centre, Parks, Hospital, Sport Facilities, Mosques, Library, Commercial Facilities, Theater and Cinemas etc are constructed for the residential communities).

6.1.2 Tourism facilities and Development of Tourism Real Estates & Properties
The main tourism facilities will be constructed on the island of KURAMATI and nearby islands including Hotels, Resort, Convention & Exhibition Centre, ,Casino, Golf course, Ocean Park, Marina, Shopping Mall, Tourism commercial town, Bar & Restaurant Street, Cultural Performance facilities. Tourism Real Estates & Properties include Timeshare holiday apartments and Timeshare holiday villas. ----------------------------------------------Exhibition and Travel Group (ETG)
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6.1.3 Construction of New Urban Centre in USP.

The New Urban Centre will provide the good quality housing at the affordable price to these local residents in USP, that will be constructed in the new area of Reclamation in the north of current THINADHOO urban area, and also new apartments will be constructed in the south of MADAVELI and both north and south of HOADEHDHOO. The management and maintenance of the new urban centre will be conducted by the local government of Maldives.

6.1.4 Vocational Training Program provided to the local Maldivian for the Project.
The Vocational Training Program is an important part of the Maldives World Atoll Project. ETG will set up a training centre in USP and will provide the vocational training program to 3000 the local Maldivian people for the tourism Development projects. These trainees will be required to sign a contract with ETG before they attend the training. The qualified trainees will enjoy the priority of the employment opportunities.

6.2 Timeframe of the Project

The duration of the development and construction of Maldives World Atoll Project will last fifteen years. These above listed components of Infrastructure, Tourism Facilities and New Urban Centres will be accomplished in the first five years of the whole development period of the project. The training program will be carried out immediately when the project commence formally. The development of Tourism real estates & properties also will start when the project officially begins, and the development schedule will be determined depending on the market. Beside of the above indicated construction components that will be completed in the first five years of the construction period, ETG will conduct plan and rational development accordingly and gradually, based on the situation of market and status of related islands.

7. DETAILED PLAN OF THE MALDIVES WORLD ATOLL PROJECT 7.1 CONSTRUCTION OF NEW URBAN CENTRES
The Maldives World Atolls Project has planned to build new urban centers. One part of the new Urban center is in the new area of reclamation in north of THINADHOO. The other part of new urban center will be built in the MADAVELI, and HOADEHDHOO that will be connected through reclaiming. The development model of the new urban centre focus is to improve the living 6 ----------------------------------------------Exhibition and Travel Group (ETG)
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conditions and standards through the construction of infrastructure, new residential housing and public facilities.

7.1.1 North part of Urban Centre:

North part of Urban Centre is in the area of reclamation in the north of current THINADHOO urban area. 1) An area of thirty hectares of sea reclamation will be conducted in the north of current THINADHOO urban area. The area of sea reclamation will be 1.5 meters higher above the sea level. Sea shore protection will be build up along the both sides of the new reclamation area, namely 350 meters in the east side and 450 meters in the west side. Residential areas and related public facilities will be built in the new reclamation area of THINADHOO. These public facilities include Schools (from kindergarten to high school), Training Centre, Parks, Hospital, Sport Facilities, Mosques, Library, Commercial Facilities, Theater and Cinemas, Power Plant, Water Supply facilities, Sewage water treatment, Rubbish Treatment, and Harbor etc. A demonstration residential area with construction area of 20000 square meters will be built as well. (Note: all public facilities: Schools (from kindergarten to high school), Training Centre, Parks, Hospital, Sport Facilities, Mosques, Library, Commercial Facilities, Theater and Cinemas etc are constructed for the residential communities). 3) The current THINADHOO sport stadium will be upgraded with the seating platform.

2)

Generally, the new area of sea reclamation in the north THINADHOO will be used to build the new urban center of THINADHOO, and the sea shore protection will be built on the two side of new area, east side is 350 meters, and west side is 450 meters. North of the new urban city will be occupied to build new residential apartments and housing. The new residential area can contain 15000 residents. The public parks and community green will be built up. The central area of the new urban centre will be designed to build mosque and main public facilities including education facilities, library, commercial blocks, community hospitals, public sport facilities, community centre and community office. The current stadium will be renovated with the seating platform. The full road system will be set up in the new urban centre. A harbour will be constructed in the east side of the urban area. The related utilities will be developed in the new urban area including water supply, power supply, rubbish and sewage water treatment etc.

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7.1.2 East part of Urban Centre

The East part of Urban Centre will be built in MADAVELI, and HOADEHDHOO that will be connected by reclaiming the sea between two islands. MADVELI and HOADEHDHOO will be connected by reclaiming, which will form a new urban area and business center in the south of THINADHOO in USP and improve the living standard of the people.

1)

MADAVELI and HOADEHDHOO will be connected and roads will be constructed or upgraded, that will facilitate the local transportation and tourist. The area between MADAVEL and HOADEHDHOO will be conducted by sea reclamation and construction of sea shore protection. New residential areas will be built in MADAVELI and HOADEHDHOO with the facilities. Surrounding the residential area, community park will be built. The middle of the new urban area will be used for the Mosque and public facilities including education facilities, library, commercial blocks, community hospitals, public sport facilities, community centre and community office. urban Centre area also will be completed with utilities such as water supply, powder supply, rubbish disposal, swage water treatment etc.

2)

3)

7.2 CONSTRUCTION OF ROAD AND BRIDGE

THINADHOO, MADAVELI and HOADEHDHOO are the islands of USP with the most population. The KAADEDHDHOO airport is the important transportation hub of USP. The linking of THINADHOO and KAADEDHDHOO airport by bridge and road, connecting MADAVELI and HOADEHDHOO will play an important role in improvement of transport condition for local people and tourists in USP and The THINADHOO will become a central city of the Great Urban Area. 1) The Maldives World Atolls Project will improve the transport condition of THINADHOO, MADAVELI and HOADHDHOO. After the Project officially starts, the road and bridges will be constructed to connect THINADHOO and KAADEDHDHOO airport, and connecting MADAVELI and HOADEHDHOO. However, the sea water between MADAVELI and KAADEDHDHOO is too deep to build up bridge that will be decided after the research and study. 2) The seawater between MADAVELI and HOADEHDHOO will be reclaimed. 3) Upgrading the KAADEDHDHOO airport to be an international airport so that the wider aircrafts can be used. Other foreign company also could construct ----------------------------------------------Exhibition and Travel Group (ETG)
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and operate this airport. If there are no other foreign companies to do so, ETG has the intention to construct and operate this airport.

7.3 CONSTRUCTION OF TOURISM FACILITIES AND DEVELOPMENT OF TOURISM REAL ESTATES AND PROPERTIES - TIMESHARE HOLIDAY APARTMENTS AND VILLAS.
7.3.1 CONSTRUCTION OF TOURISM FACILITIES
Construction of the tourism facilities is one of the most important parts of the Maldives World Atoll Project. The main tourism facilities will be planed and constructed on the KURAMATI and other islands nearby where is south of HOADEDHDHOO and west of USP. With the development of the tourism facilities, no doubt, the USP will become a new tourism centre in the south of Maldives that is also a well known top class tourism destination and Convention & Exhibition Centre. These tourism facilities including hotels, resorts, convention and exhibition facilities, casino and entertainment Centre, marina, Ocean Park, shopping malls, tourism commercial town, caf and Restaurant Street, cruise wharf, performance facilities will be built and prepared to serve the tourists and business travelers. The golf course will be set up on GAN. The main tourism facilities in this development plan of the Project will be immediately start when the project formally commence, and will be completed in the first five years.

7.3.2 DEVELOPMENT OF TOURISM REAL ESTATES---TIMESHARE HOLIDAY APARTMENTS AND VILLAS.

First five years construction plan of The Maldives World Atoll Project has included the development of tourism real estates and properties such as timeshare holiday apartments and timeshare holiday villas. These holiday properties will be provided to those who want to stay longer in Maldives and will attract certain fixed big amount of tourists to visit and spend holiday in Maldives. This measure surely will promote the economic development. These timeshare holiday apartments and villas will be perfectly combined with tourism facilities, in the meanwhile, these holiday properties are also necessary supplement to these tourism facilities. After the first five year construction period, ETG will develop other timeshare apartments or villas accordingly based on the situation of market and the status of islands.

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7.3.3 VOCATIONAL TRAINING PROGRAMME

The Maldives World Atolls Projects need to employ a large number of qualified and skilled staff working in tourism facilities. ETG will coordinate with IHG (InterContinental Hotel Group) to open a training centre in which as many as 3000 local Maldivian will receive formal training of hospitality and tourism. These trai will be required to sign a contract with ETG before they attend the training. The qualified trainees will enjoy the priority of the employment opportunities.

7.3.4 AGRICULTURE AND SEA WATER AQUACULTURE

The master plan of the Maldives World Atolls P that will be used to develop agriculture and sea water aquaculture. The islands will supply the agricultural and marine products to local residents and tourists. All these products have the priority to enter all facilit

7.3.5 ISLANDS PROTECTION AND ENVIRONMENT SENSITIVE ISLANDS

ETG will not develop every available island in USP for the Maldives World Atolls Project. These tourism facilities and tourism real estates timeshare apartments and villas will be built on the uninhabited islands. For the purpose of environment protection of these environment sensitive islands or atolls, and for the sustainable development, environment sensitive lands and atolls will be preserved and protected.

8. BENEFICIARIES, TARGETS AND VALUE OF THE PROJECT

The development of the Maldives World Atoll Projects will directly or indirectly benefit almost 40,000 residents in the USP. The development of USP will drive the economy of the whole southern part of Maldives. 1) Through the development of the Maldives World Atoll Project and the construction of tourism facilities in USP, such as accommodation, convention & exhibition, entertainment, transportation, sport facilities, the tourism of south part of Maldives will be significantly improved that will enhance the well known reputation of the global tourism market, and also increase the income of Government. 2) Creating sufficient employment opportunities to the local Maldivian and increasing their income. 3) The Development of the tourism of USP will also drive the economy development of the other atolls of Southern Maldives. 4) The Maldives World Atoll Project will improve and upgrade the facilities and ----------------------------------------------Exhibition and Travel Group (ETG)
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infrastructure of USP that includes roads, schools, sports facilities, utilities etc. 5) The Maldives World Atoll Project will construct the new residential areas that will meet the increasing demand for the better housing from local residents. They will have chance to enjoy the better living condition and higher standard at affordable rate. 6) The Maldives World Atoll Project also will provide the vocational training to Maldivian and they have employment opportunities in projects tourism facilities.

9. THE SOCIAL RESPONSIBILITIES OF THE MALDIVES WORLD ATOLLS PROJECTS 9.1 ENVIRONMENT PROTECTION
Because of the limitation of the natural resources and environmental vulnerability, ETG will try its best to protect the environment of Maldives during the operation of the project. Many islands will be protected and will be not developed. During the construction period and operation period, ETG will minimize the influence to the natural environment.

9.2 APPLICATION OF GREEN POWER AND ECO ENERGY

Advanced technologies of Green powers and eco energies will be vastly used in the Maldives World Atoll Project. The renewable energies such as solar power, wind power, wave power etc will be applied to reduce the influence to the natural environment. The rain water collecting systems and designs will be introduced and energy saving building materials will also be adopted that will increase the efficiency of the energies and reduce the release of carbon. The Maldives World Atolls Project will be a GREEN project that will contribute to the efforts of Government of Maldives to build it to be the first low carbon country.

9.3 VOCATIONAL TRAINING AND EMPLOYMENT PRIORITY

ETG will provide training program to 3000 Maldivian from beginning of the Project. ETG will coordination with InterContinental Hotel Group to set up the training centre and training program, including the Chinese language course. After they sign a contract with ETG, The local Maldivian has priorities to attend the training and the employment opportunities provided by the Project.

9.4 WOMENS DEVELOPMENT

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The Maldives World Atolls Project pays an importance to the womens development. The Project provides equal opportunities of training and employment to men or women. Even arrange special programs for women in the field of hospitality.

9.5 DEVELOPMENT OF AGRICULTURE AND FISHERY

The Project will attract a large number of tourists, the supply of agricultural products and marine products will be provided from USP or other part of Maldives. Local Products will enjoy priorities to enter the projects facilities. The Project also will support the development of local Agriculture and fishery and will set up farm and aquaculture in USP.

9.6 DEVELOPMENT OF TRADITIONAL CULTURE

Traditional Culture is an important tourism resource. The Project will fully protect and promote the Maldivian all kinds of traditional culture and will build cultural facilities for the communities and tourism.

9.7 RELIGION AND CUSTOM

The Project will completely respect the religion of nation and custom of the people. The Mosque will be built in the residential areas for communities

9.8 SPORT FACILITES

Maldives World Atolls Project will build and upgrade sport facilities. The Stadium will be renovated with seating platform. Tennis courses, golf courses, marina and other sports facilities will be constructed. The high standard facilities will be suitable for international competition. Public sport facilities will be built in the residential areas for communities.

10. CONCERNED ISSUES TO BE FACILITATED BY GOVERNMENT OF MALDIVES

1) The Maldives World Atolls Projects will be considered as one project package that includes all available islands for resorts development. The lease during the construction period of the project will be waived. The duration of construction of resorts is 36 months. ETG starts to arrange the payment of lease since the first resort open for operation. 2) The development of Urban centers and City Hotels includes airport, convention centre, shopping mall, sport facilities etc. All available islands or atolls confirmed by Government of Maldives will be used for the development the Urban centers and City hotel, the lease rate will be negotiated by two parties based on the policies. The lease will be waived during the construction period. The 12 ----------------------------------------------Exhibition and Travel Group (ETG)
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construction period will be 48 months to 60 months. ETG starts to arrange the payment of lease since the first City hotel open for operation. 3) The construction period of the Islands of Agriculture (including these preserved and protected environmental sensitive islands) will be 48 months, the lease will be consulted based on the certain policies. 4) The lease term (duration) of the Islands and Atolls which are available to the Project is 99 years. The 99 years leasing term hopefully may be amended by legislation of Maldives. 5) Casino is one important element to attract tourists. The Maldives World Atolls Project will operate Casino and other entertainment facilities. Hopefully, Maldives Government can confirm at early stage, because the decision will influence the design of the hotel and tourism area. 6) The extension and upgrade of International Airport is the most important factor of the Project. In future, USP will received millions tourism and more than hundreds daily flights will arrive USP. It will be impossible if every tourist coming from China, Asian countries and worldwide, are to be transit from Male International Airport. On the other hand, the capacity of the operation of Male International Airport is not enough to meet the increasing demand. Other foreign company can construct and operate this Airport. If there is no other foreign company to construct and operate, ETG would like to do so.

7) Immigration: It will attract more people to stay and spend longer holidays in Maldives if Government of Maldives considers granting the Permanent Resident Permit to those who invest in the timeshare holiday apartments or villa. These rich people will stay longer in Maldives and make contribution to Economy of Maldives. 8) Taxation: Maldives World Atoll Project is a long term development project that will bring more job opportunities and improve the living standard of people, attract more foreign tourists and business travelers to visit Maldives and increase the income of foreign reserve. Hope Government of Maldives could waive the import tax on the building materials and tourism goods used in tourism facilities during the construction period and operation period. All exempt the import tax on the consumption goods used in tourism facilities. Additionally, hope government can consider to offering a special tax rate package and incentives to the project and support the development of the project. 9) ETG hopes Government of Maldives could consider the Maldives World Atoll Project is a special project and enjoy special conditions and policy on taxation, immigration, tourism operation and management etc that will build USP to be a special tourism zone and benefit a rapid development in certain period. ----------------------------------------------Exhibition and Travel Group (ETG)
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