Business

Maldives Sub-Sectioned to Four Areas for Tourism Development with New Lease Figure

Bill regarding the lease of uninhabited and inhabited islands for the development of resorts, hotels, marina and integrated tourism projects have been passed with 57 parliamentary votes.

As per the new amended bill, the rent proposed for the development of resorts, hotels, marina and integrated tourism projects in uninhabited islands are as follows:

As per the newly amended bill, the rent lease proposed for the development of resorts, hotels, marina and integrated tourism projects in inhabited islands are as follows:

The bill suggests that lease payment for the following islands will be taken from 1 January 2021 onward.

The proposed bill intends to increase the revenue generated by the Maldives in the tourism industry. The estimated revenue for the upcoming year is MVR 385,500,000.

Full details are available at the link below:

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