Over 10 Islands Leased for Tourism Development, Says Tourism Minister
Water villa at a resort in the Maldives | Photo: Envato
The current administration has leased a total of 13 islands for tourism purposes, according to Tourism Minister Thoriq Ibrahim.
Speaking at a press conference held at the President’s Office last Wednesday, the minister provided details of the island leasing process, stating that 10 islands were leased through a closed bidding process, while the remaining three were issued on a cross-subsidy basis. Additionally, open bidding processes are currently active for three other islands.
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Minister Ibrahim highlighted that three islands, including two planned for development in the Kelaa lagoon and one in the Kaashidhoo lagoon, are being tendered under an open bidding process. The government aims to launch 1,290 new beds for tourism this year, a target the minister is confident will be met.
Currently, 156 resorts are under development, while 61 islands remain on hold due to various factors. At present, 65 domestic brands and 110 international brands are operating within the Maldives’ tourism sector.
Looking ahead, the government has set an ambitious target for the tourism sector, aiming to increase revenue to MVR 6 billion by 2027. In 2023, the sector generated MVR 4.2 billion in revenue.
