New Real Estate Bill Sent to Majlis Bans Gambling, Alcohol in Integrated Zones

The Maldivian government has submitted a Real Estate Bill to the People's Majlis, introducing a special legal framework for Integrated Real Estate Zones. The bill’s first reading is scheduled for this afternoon's parliamentary session. According to the bill, no business or service that facilitates activities prohibited under Islamic Sharia law—such as gambling—shall be established or operated in any form within these zones. Additionally, permission to import, sell, or use alcohol and alcohol-derived products will not be granted within designated zones. The bill grants the President authority to designate special areas as Integrated Real Estate Zones on the recommendation of the Minister, with land in these zones leasable to a Master Developer for a maximum of 99 years. Goods and services provided by businesses within such zones will be treated as tourism goods and services for tax purposes, subject to the applicable tourism rate. Purchasing property in an Integrated Real Estate Zone does not confer citizenship rights, and leasehold rights cannot be sold directly or indirectly to Israeli citizens or entities owned or controlled by them. Land registration must ensure that no single country's citizens or entities hold more than 25 percent of the total land in a zone. The bill also mandates that the Maldivian security forces maintain safety and security in these zones, and prohibits the display of non-Islamic slogans or celebrations, as well as the construction of places of worship for other religions. The Master Developer is barred from any act detrimental to the sovereignty or independence of the Maldives.