President Dr. Mohamed Muizzu has unveiled plans for a new tourism venture in Hankede, Addu City, signaling a shift in the area’s development strategy.
To fast-track the initiative, the President has repealed the designation of Hankede as a tourism real estate development project zone — a status granted under a Presidential Decree on 2 December 2021, which had leased the area to the Maldives Fund Management Corporation (MFMC). The repeal was formalised through a new Presidential Decree issued on Wednesday.
Under the revised framework, Hankede has been brought under the direct oversight of the Ministry of Tourism and Environment, which will spearhead its development as a dedicated tourism destination.
The move marks a departure from the earlier Hankede Integrated Tourism Development Project, launched by MFMC in 2021. That plan envisioned a large-scale real estate-driven model incorporating resorts, hotels, and residential facilities to diversify tourism in Addu. However, progress stalled in recent years, with concerns raised about its feasibility and investment outlook.
By realigning Hankede’s development under the Tourism Ministry, the administration aims to inject fresh momentum into Addu’s tourism sector and ensure the project delivers tangible results.
