The Ministry of Tourism and Environment has expanded its portfolio of properties designated for development under a specialised Halal tourism model, adding the island of Fushifaru in Shaviyani Atoll to the public bidding process.
The inclusion, detailed in an amendment to the official framework, opens the opportunity for prospective investors to lease and manage designated islands and lagoons tailored to the Halal sector, the ministry said. Fushifaru, a 4.34-hectare site with a planned capacity of 100 beds, joins Makunudhoo in Haa Dhaalu Atoll, which offers 200 hectares for a 150-bed project, alongside Fonagaadhoo in Laamu Atoll and Dhonhera in Seenu Atoll, featuring 8.18 and 8.38 hectares respectively for 100-bed developments.
Properties carry 50-year lease terms, with construction required to commence within 36 months of the lease execution. Officials noted that investors will be permitted to undertake land reclamation projects to facilitate development. Financial incentives include five-to-six-year instalments for acquisition fees and a 20 percent waiver on duties. The ministry confirmed that land rent for the remainder of a construction grace period would be waived for resorts opening ahead of schedule.
The addition of Fushifaru necessitated a revised procurement timeline and a supplementary pre-bid meeting. Proposals for the Halal initiative are due by 11:00 a.m. on 11 May. In a parallel move, the deadline for 13 other commercial resort areas has been extended to 1:00 p.m. on 13 May.