President Dr Mohamed Muizzu has established a new State-owned company to oversee the development of the Hankede Integrated Tourism Development Project in Addu Atoll, supporting the Government’s efforts to expand tourism and strengthen economic opportunities in the southern region of the Maldives.
Addu Hankede Development Corporation Limited was incorporated under Section 15 of the Companies Act through Presidential Decree No. 2026/12, which was published in the Government Gazette. The corporation will be responsible for planning, coordinating and implementing the development of Hankede as an integrated tourism destination in accordance with the Government’s objectives for Addu Atoll.
The Hankede development is intended to strengthen Addu’s position as an attractive international tourism destination by supporting the establishment of resort accommodation, visitor facilities, hospitality services and related tourism infrastructure. The integrated development is expected to contribute to a more diverse tourism offering in the Maldives while creating new opportunities for visitors to experience the natural beauty, distinctive island environment and cultural character of the southern atolls.
The corporation’s mandate includes facilitating the orderly and sustainable development of the area, coordinating the implementation of tourism-related projects and supporting the expansion of Addu Atoll’s tourism industry. Through focused planning and effective project management, the company will work to ensure that the development contributes to the long-term economic growth of Addu City and the wider atoll.
A key objective of the corporation will be to promote a more equitable distribution of tourism-related economic benefits across Addu Atoll. The development is expected to generate opportunities in employment, hospitality, transportation, construction, retail, local production and other supporting services connected to the tourism industry.
The corporation will also seek to increase the participation of Addu residents in the development and future operation of the destination. Greater local involvement is expected to enable residents, entrepreneurs and service providers to benefit directly from the expansion of tourism while supporting the growth of small and medium-sized businesses across the atoll.
The Hankede Integrated Tourism Development Project is expected to complement Addu’s existing tourism establishments and strengthen the destination’s capacity to welcome a wider international market. The project also has the potential to support increased demand for air connectivity, marine transportation, local excursions and community-based tourism services.
The establishment of Addu Hankede Development Corporation Limited provides a dedicated institutional framework to lead the project and coordinate its implementation. The corporation will oversee initiatives aligned with the Government’s vision for Hankede and support the development of a competitive, inclusive and economically beneficial tourism destination in the southern Maldives.
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