{"id":13766,"date":"2021-05-12T11:49:35","date_gmt":"2021-05-12T04:49:35","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=12329"},"modified":"2021-06-04T16:12:46","modified_gmt":"2021-06-04T09:12:46","slug":"maldivian-government-companies-permitted-to-lease-land-for-tourism","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/maldivian-government-companies-permitted-to-lease-land-for-tourism\/","title":{"rendered":"Maldivian government companies permitted to lease land for tourism"},"content":{"rendered":"<p><span data-contrast=\"auto\">Rights to the land lease of properties can only be sold after ten years of opening and operating the business <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<figure id=\"attachment_12330\" aria-describedby=\"caption-attachment-12330\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"wp-image-12330 size-full\" src=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/05\/processed-6.jpeg\" alt=\"\" width=\"1000\" height=\"562\" \/><figcaption id=\"caption-attachment-12330\" class=\"wp-caption-text\">The real estate tourism business in the Maldives is expected to flourish if establishments operate under the regulation.\u00a0Source: FirushanNumaan\/Shutterstock<\/figcaption><\/figure>\n<p><span data-contrast=\"auto\">According to\u00a0<\/span><a href=\"https:\/\/en.sun.mv\/66642\" target=\"_blank\" rel=\"noopener\"><span data-contrast=\"auto\">SunOnline<\/span><\/a><span data-contrast=\"auto\"><a href=\"https:\/\/en.sun.mv\/66642\" target=\"_blank\" rel=\"noopener\">\u00a0International<\/a>, only enterprises completely owned by the government are allowed to lease land for tourism-related real estate activity<\/span><span data-contrast=\"auto\">, announced the Tourism Ministry of the Maldives.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The regulation\u00a0<\/span><span data-contrast=\"auto\">concerning\u00a0<\/span><span data-contrast=\"auto\">the integrated tourist resort development and management indicated that<\/span><span data-contrast=\"auto\">,<\/span><span data-contrast=\"auto\">\u00a0in properties leased for the government\u2019s integrated tourism development projects,<\/span><span data-contrast=\"auto\">\u00a050 percent of the land must be set aside for separate villas and rooms under the strata policy.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Aside from the land area set out for rooms and villas under the strata policy, the spare land area can be\u00a0<\/span><span data-contrast=\"auto\">u<\/span><span data-contrast=\"auto\">tilised<\/span><span data-contrast=\"auto\">\u00a0by\u00a0<\/span><span data-contrast=\"auto\">tourist resorts and hotel development<\/span><span data-contrast=\"auto\">s\u00a0<\/span><span data-contrast=\"auto\">un<\/span><span data-contrast=\"auto\">d<\/span><span data-contrast=\"auto\">er the regulation.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Moreover, the rights to the land lease of such properties can only be sold after ten years of launching and operating the development.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Rights may only be sold after 75 percent of the villas, rooms, or apartments built under the strata policy are completed and p<\/span><span data-contrast=\"auto\">roposed\u00a0<\/span><span data-contrast=\"auto\">to the President by the Tourism Ministry.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/www.asiapropertyawards.com\/en\/macau-hotel-industry-sees-positive-outlook-as-the-worst-has-passed\/\" target=\"_blank\" rel=\"noopener\"><strong>More: Macau hotels optimistic about the future, believes the worst has passed<\/strong><\/a><\/p>\n<p><span data-contrast=\"auto\">A fine of MVR100,000 (USD6,486.79) will be faced by those in violation of the regulation.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Further, integrated tourism establishments that do not hold their quality of services to the standards set out by the Tourism Ministry could also be charged with no more than MVR<\/span><span data-contrast=\"auto\">1 million\u00a0<\/span><span data-contrast=\"auto\">(USD<\/span><span data-contrast=\"auto\">64,867.89).\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The real estate tourism business in the Maldives is expected to flourish if establishments operate under the regulation.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rights to the land lease of properties can only be sold after ten years of opening and operating the\u00a0business\u00a0\u00a0<\/p>\n","protected":false},"author":12,"featured_media":19601,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[1350,699,1351,322],"class_list":["post-13766","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-land-lease","tag-maldives","tag-resorts-and-hotels","tag-tourism","news_country-maldives","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Maldivian government companies permitted to lease land for tourism | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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