President: Turkish investor awarded Hankede tourism project

President Dr. Mohamed Muizzu has announced on Wednesday that a Turkish investor has been awarded the Hankede tourism development project in Addu, following a government decision to revoke previous plans and reassign the site.

Speaking during his visit to Addu, the President said the Ministry of Tourism had accepted the investor’s proposal and issued a letter of award. The investor has until 7 December to pay the acquisition cost, after which a lease agreement will be signed.

“The tourism minister assured me today that they are working to make the payment 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,” said President Muizzu, adding that this is the first phase of a larger 3,000-bed development.

The decision follows a presidential resolution issued on October 1, repealing a 2021 decree by former President Ibrahim Mohamed Solih that had assigned the project to the Maldives Fund Management Corporation (MFMC). The site has now been handed over to the Ministry of Tourism and Environment for a new initiative.

The Hankede project was previously awarded to China National Electrical Engineering Company (CNEEC) under the Maldivian Democratic Party (MDP) government. Although drawings were shared in early 2023, no development took place.

Three months ago, the current administration announced that Hankede would be one of six designated areas for halal tourism development in the Maldives.