Maldives Resorts Allowed to Expand Property for Annual Rent, But Development Restricted

The Maldives Tourism Ministry has introduced new regulations permitting tourist resorts to expand their properties by including surrounding lagoons, islands, and sandbanks. However, these expanded areas cannot be used for development projects. The amendment allows resorts to acquire additional land for an annual rent, with the acquisition fee and rent varying based on the size of the area. Resorts can now expand up to 50 hectares within a 1,000-meter radius from their lagoon. The fees range from USD 500,000 for less than 20 hectares to USD 2 million for areas between 40 to 50 hectares. Annual rents start at USD 100,000 for areas under 20 hectares and go up to USD 400,000 for larger areas. This change is available to investors who have committed over USD 250,000 to the Tourism Ministry. The expansion aims to enhance the tourism sector while maintaining environmental and developmental safeguards.