Maldives Government Earns USD 120 Million From Resort Leases and Land Fees

The Maldives government generated USD 120 million last year through a combination of resort lease extensions, land sales, and transfer fees for resort development, according to data from the Ministry of Finance and Public Enterprises. Detailed statistical reports reveal that 18 companies opted to extend their resort leases throughout the year. Additionally, 15 companies contributed USD 12.7 million specifically through land sale and transfer fees tied to the development of tourism infrastructure. Historically, the Tourism Act dictated a standard lease extension fee of USD 100,000 per year of extension, provided the payment was settled within six months. This fee increased to USD 200,000 per year for payments made after the six-month window. To incentivize resorts to secure their long-term tenure, a 2025 amendment to the Tourism Act introduced a temporary concession scheme. This new framework allows for lump-sum payments based on the length of the extension. For a 49-year extension, resorts can pay USD 5 million if settled within six months of the amendment, rising to USD 10 million thereafter. Under the same scheme, a 20-year extension is priced at USD 2.5 million if paid within the initial six-month window. For those seeking a 25-year extension, the cost is USD 3 million. These revised terms aim to streamline the extension process and provide the state with immediate capital injections. The revenue surge comes amid a period of growth for the nation's tourism sector. The latest statistics indicate that the total number of resorts in the Maldives has reached 179, providing a combined capacity of 44,977 beds nationwide.