Sale of Thilafushi Land Reserved for Maldivians Only

The Housing Development Corporation (HDC) has made a notable change in its land policy for Thilafushi, declaring that land sales will be exclusive to Maldivian citizens. This decision marks a shift from previous plans that had considered allowing non-Maldivians to buy land on the island.

The decision comes amidst growing concerns over long-term leases to foreign businesses, which drew criticism from the public and stakeholders alike, prompting HDC to prioritize local ownership.

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Thilafushi, aimed at becoming an industrial centre, has seen significant development, including land reclamation.

In the current Phase 2 development, HDC is offering 108 plots for purchase, catering to various business needs. These plots, located in Thilafushi Phase 2’s Zone A Area B, are intended for industrial use, with HDC managing the bidding process online.

Additionally, HDC plans to relocate the international port to Thilafushi, enhancing its role in the country’s economy. The corporation also expects smoother logistical operations after the Thilamale Bridge connects Male City with Thilafushi.

HDC stresses its commitment to supporting local businesses and sustainable development through this policy change. By restricting land sales exclusively to Maldivians, the corporation aims to create lasting opportunities for local enterprises in a conducive environment.