The Ungoofaaru Island Council is set to significantly increase its annual income through strategic land rentals, Council President Abdulla Rasheed has said. In a recent interview with PSM News, Rasheed detailed the council’s initiative to generate approximately USD272,399 annually by leasing land plots on the island.
Rasheed highlighted that renting land is the most straightforward method to boost the council’s income. The council has already leased 10 land plots, from which it anticipates generating approximately USD272,399 annually, he said.
Looking ahead, the council plans to lease additional land plots next year, which is projected to bring in an extra USD116,722 annually. These new plots are specifically targeted for local tourism development, according to Rasheed. He also disclosed future plans to develop buildings on the island and lease them, thereby further augmenting the council’s revenue streams.
In line with President Dr Mohamed Muizzu’s administration’s policy to lease uninhabited islands to local councils, Rasheed announced that the Ungoofaaru Council has requested jurisdiction over Ungulu, an uninhabited island in Raa Atoll. The council aims to use Ungulu for industrial activities, including fibre works, agriculture, and fisheries, which will empower residents and increase the council’s income, he added.
“We are working to obtain jurisdiction over nearby Ungulu. We can conduct economic activities on that island, which will help us empower the residents and increase the income of the island council,” Rasheed added.
Since assuming office, President Dr Muizzu’s administration has prioritised expanding and introducing new mechanisms for local island councils to enhance their revenue and empower local communities. A significant decision by the administration is to grant jurisdiction over uninhabited islands to local councils, even if these islands lie outside their traditional jurisdiction. This policy aims to create new opportunities for local councils to generate income through economic activities on these uninhabited islands.