A Turkish investor has been granted the rights to develop the long-stalled Hankede tourism project in Addu, following the government’s decision to revoke earlier plans and reopen the site for a new phase of investment.
During his visit to Addu on Wednesday, President Dr Mohamed Muizzu confirmed that the Ministry of Tourism had accepted the investor’s proposal and issued a letter of award. The investor has been given until 7 December to make the acquisition payment, after which a lease agreement will be signed.
According to the President, the tourism minister has assured that the payment process will be completed within a week. “If they do, they will sign the lease agreement. They are building a tourism project of at least 1,000 beds there,” President Muizzu said, adding that this marks the first stage of a wider 3,000-bed development plan.
This development follows a presidential resolution issued on 1 October, which annulled a 2021 decree by former President Ibrahim Mohamed Solih assigning the project to the Maldives Fund Management Corporation (MFMC). Control of the site has since been transferred to the Ministry of Tourism and Environment to carry forward the new initiative.
The Hankede project had initially been awarded to China National Electrical Engineering Company (CNEEC) under the previous administration, but despite design work shared in early 2023, construction never began.
Three months ago, the current government announced that Hankede would be among six zones dedicated to halal tourism in the Maldives, part of its broader strategy to attract diverse tourism markets and expand investment opportunities across the atolls.
