Gov’t Revises Timeframe for Resort Redevelopment

The Government has introduced changes to the timeframe allowed for resort redevelopment projects.

Under the previous guidelines, the maximum period granted for resort redevelopment was two years, with an option for a one-year extension upon request.

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With the new changes, the standard maximum period for resort redevelopment has been extended to three years. In cases where a resort is being entirely demolished and rebuilt, the redevelopment period may now range from three to six years, depending on the scale of the project.

Additionally, the amendment outlines that if a resort is not made operational within the allocated time, the Ministry of Tourism may grant a further extension. This extension would be based on a developer’s submission, confirming that workers and required equipment are present on-site. However, if an inspection reveals the statement to be false, the Ministry reserves the right to terminate the permit.

Moreover, for projects involving the full closure of a resort, the Ministry may offer a rent abatement for the duration of the redevelopment. Rent obligations will resume once the granted redevelopment period concludes.

These changes are expected to impact both ongoing and future resort development projects, providing more flexibility while ensuring accountability.