The guidelines on leasing land for resort development on a cross-subsidy basis has been amended to allow projects to be conducted on an island, lagoon, or land plot once a minimum of USD1 million is paid.
Previously, the guidelines stated that projects can only be conducted on an island, lagoon, or land plot once the contractor makes the complete payment and completes all work required prior to the commencement of the project. The new guidelines also state that the government is not liable to provide compensation to contractors upon the termination of the agreement.
President Ibrahim Mohamed Solih has designated six islands for resort development on a cross-subsidy basis. They are Kudalhaimendhoo in Shaviyani Atoll, Kunnamalei in Noonu Atoll, Meyyafushi in Lhaviyani Atoll, Dhiffushi and Kalhufahalafushi in Thaa Atoll, and Fulan'gi in Gaafu Alifu Atoll.