President Dr Mohamed Muizzu established a state-owned company on Thursday to oversee the development of the Hankede Integrated Tourism Development Project in Addu Atoll.
The government established Addu Hankede Development Corporation Limited under Section 15 of the Companies Act (Act No. 7/2023) through Presidential Decree No. 2026/12.
The corporation will develop Hankede as an integrated tourism destination, expand the tourism sector in Addu Atoll and promote the equitable distribution of tourism-related economic benefits across the atoll.
The company will also support greater participation by Addu Atoll residents in the project and lead the planning and implementation of initiatives aligned with the government’s development objectives for the area.
