AG’s advice sought to seize 22 islands leased for resort development
In a significant move to address stalled resort development projects, Tourism Minister Ibrahim Faisal has sought the advice of Attorney General Ahmed Usham to cancel the agreements of 22 islands leased for resort development due to lack of progress. During a parliamentary session today, Minister Faisal revealed that a total of 58 islands have been […]
Maldives adds new island to resort development list
The Ministry of Tourism has added Lhaanbugali in Raa Atoll to the list of islands available for lease for resort development. The ministry announced on Wednesday that proposals are now open for the development of Lhaanbugali, with an acquisition fee set at USD 1.6 million. The island covers an area of 2.66 hectares. Additionally, the […]
Govt initiates resort development bidding in Sh. Nalandhoo
As pledged by President Ibrahim Mohamed Solih, the government officially opened the bidding process for the development of a resort in Sh. Nalandhoo, a location known for its stunning natural features. President Solih had made this commitment during his visit to the atoll in January last year as part of the MDP presidential primary campaign. […]
Maldives faces $1.7b annual economic loss from 88 unfinished resorts
The Maldivian tourism industry is grappling with a substantial setback as 88 resorts designated for development remain incomplete, resulting in an annual economic loss of $1.7 billion, as per the Finance Ministry’s fiscal statement for 2024-26. Maldives, heavily reliant on tourism, considers these unfinished resorts a linchpin of its economic prosperity. However, these 88 islands, […]
Sri Lankan conglomerate Hayleys Group announces first resort in the Maldives
HAYLEYS Leisure, part of Sri Lanka’s conglomerate Hayleys Group, will invest US$65 million in a new property in the Maldives.
The Maldives invites Sri Lankan investment in the tourism industry
The Maldives has invited Sri Lankan and other regional developers to invest in the financing of the tourism industry.
Profile: Yuji Yamazaki
The Japanese-American architect who designed the five-star Club Med Finolhu in the Maldives, a landmark green resort opened for business in late January.
