The Ministry of Tourism and Environment has announced the requirements and incentives for the development and operation of tourist resorts in 13 lagoons across the northernmost atolls of the Maldives.
Developing tourism in regions with fewer resorts is a key priority of the government, with particular focus on the three northernmost atolls.
According to the Ministry, 13 lagoons will be dredged to develop resorts in five areas across Haa Alifu, Haa Dhaalu and Shaviyani Atolls, with 200 hectares to be developed in all but one lagoon. The resorts must have at least 150 beds, and the lagoons will be leased for a period of 50 years. Construction must begin within 35 months of land allocation.
The Ministry said the lagoons will be offered for tourism with several concessions, including duty relief of up to 15 percent on capital investment for resort development, among other incentives.
In addition, the Ministry has reiterated its call for contractors to develop and operate tourist resorts based on the halal tourism model. Investors are being sought to develop five resorts under the concept, with six islands originally allocated from five atolls, and one already leased.
These islands will be leased for 50 years, with development required to start within 36 months from the date of the lease. Land will be dredged for the development of these resorts, the Ministry has said.
The government is also offering concessions for the development of halal tourism resorts, including the option to divide acquisition fees and development costs over five to six years for islands leased through open bidding. Developers may also be eligible for duty exemptions up to 20 percent, among other benefits.