Ministry of Finance has revealed an income of USD 15 million is expected from the lease of 4 islands for real estate tourism in 2022.
Under the real estate tourism policy, 4 new islands are to be reclaimed and leased for resort development. The islands are to be leased through the Maldives Funds Management Corporation (MFMC). Income generated by the state through the lease of these islands would depend on the dividend allocated for the state from MFMC’s profits.
In order to reduce the burden on the state budget for development of real estate tourism and to generate a meaningful income to the state, MFMC will be declaring its interim dividend in 2022. As such, the finance ministry expects USD 15 million to be received as the interim dividend for 2022.
Real estate tourism is one of the concepts proposed to increase the modes of income to the state. The government expects an additional USD 47 million in income from the newly proposed modes of income for 2022.