The Maldivian government has decided to permit the sale of land from lagoons and dry land to locals, under the proposed 2021 budget.
According to the MVR 34.7 billion budget presented to the Parliament on Monday, the state would receive an estimated income of MVR 300 million from the sale of such land.
It was further stipulated that reclaimed land from islands would be permitted for purchase by locals not residing in the area.
Areas of water considered as land (lagoons) are also to be permitted for sale. A ‘Lagoon Land Concept’ is to be introduced under separate regulations according to the budget.
The budget also revealed that 10 islands are to be leased as new tourist resorts in 2021, which would generate an estimated income of MVR 154.2 million for the government.
Full details are available at the link below:
