Resorts
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BusinessGovt to terminate lease agreements for stalled resort projects
The Tourism Ministry has issued a new regulation allowing the government to terminate lease agreements for stalled resort projects without further extensions. While some developers may receive a final grace period, properties failing to meet specific construction timelines will be repossessed, and developers remain liable for all unpaid fines.
BusinessForeign investors voice concerns over 40 percent dollar exchange
Foreign investors and local resort owners in the Maldives have voiced strong opposition to a new rule requiring them to exchange 40% of foreign currency revenue. Critics argue the mandate is unconstitutional and threatens business sustainability. MATI members are now urging the association to advocate against the government's policy.
News
"Not a burden for resorts to exchange 40 percent of earnings"
News
Ihusaan accuses exchange outlets of money laundering
Business
MMA to scrap per head fee to mandate 20 percent of revenue
Business
New rules allow SOEs to acquire tourism sites by offsetting debt
Business
New rules to reclaim resorts after paying compensations
News
Maldives tourism bears brunt of Muizzu's remarks
Business
Resorts implement power cuts amid losses due to war
News
Govt cannot explain efforts made to recover money from resorts
Business
Meliá group begins operating first resort in Maldives
Business
Plans to move toward floating exchange rate
Business
First Villa resort in Raa atoll to open in December
Business
Bids reopen for resort development in the north
Business
Noonu atoll resorts generate USD 60 million a year
Report
Fact check: eight resorts opened in 2023
News
Govt to develop resorts with shares to every Maldivian citizen
News
21 resorts face disruptions after rules change for food imports
News
Sun Siyam Group to pay service charge in MVR
Business