The Government of the Maldives has leased 31 new locations for tourism development since the current administration assumed office, according to the Minister of Tourism and Environment, Thoriq Ibrahim. The announcement was made during a press conference held at the President’s Office, where the Minister outlined the administration’s ongoing efforts to strengthen and expand the tourism sector across the country while encouraging investment in regions with comparatively lower levels of resort development.
Minister Thoriq explained that the government, under the leadership of President Dr Mohamed Muizzu, is pursuing a strategy to broaden the distribution of tourism infrastructure throughout the Maldives. Particular attention has been given to six atolls identified as having fewer resort properties compared to other parts of the country. To encourage investors to explore opportunities in these regions, the government has introduced a range of incentives aimed at improving the feasibility and attractiveness of new tourism developments. These incentives include reductions in lease acquisition rates, exemptions of up to 15 percent on capital investment duties, and the option to defer rent payments when a project becomes operational within the designated grace period.
The Minister further highlighted that the government has introduced a transparent mechanism for leasing tourism locations through an open public bidding process. This system allows investors to pay lease acquisition costs through a structured installment plan, providing greater financial flexibility and supporting wider participation in tourism development initiatives. Of the 16 projects initially announced under this framework, bids have already been submitted for three islands, with lease agreements formally concluded for two of them. Minister Thoriq also noted that since the current administration took office, 16 locations have been leased through a closed bidding arrangement, 11 locations through a cross-subsidy model, and four locations through the open bidding scheme.
In addition to expanding traditional resort development, the government is advancing initiatives to introduce and strengthen Halal tourism within the Maldives. As part of this initiative, lease acquisition costs for islands designated for Halal tourism projects have been reduced by 20 percent. The Ministry of Tourism and Environment has also indicated that if such islands or lagoons become operational during the grace period, the land costs associated with the remaining period will be waived, creating further incentives for investors to accelerate project completion.
The Ministry stated that the first phase of the Halal tourism initiative included six designated development projects. Of these, one island has already been leased under the program. In February this year, the government reopened bid submissions for islands and lagoons that had not previously received proposals, allowing investors another opportunity to participate in the initiative.
The Maldives continues to strengthen its position as one of the world’s leading tourism destinations, with the government focusing on both expansion and diversification of the sector. As part of the broader tourism development strategy, seven new resort properties are scheduled to open in the Maldives during the course of this year. Each of these resorts is expected to contribute significantly to the country’s accommodation capacity, with more than 1,000 beds anticipated to be added across the new developments.
The expansion of resort infrastructure and the introduction of new investment incentives reflect the Maldives’ continued commitment to creating a competitive and sustainable tourism environment. By encouraging development across a wider geographic area and introducing specialized tourism concepts such as Halal tourism, the government aims to enhance economic opportunities, strengthen investor confidence, and further elevate the Maldives’ reputation as a globally recognized destination for high-quality tourism experiences.
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