BML CCO Zamra appointed Managing Director of Addu Hankede Development Corporation
Zamra was appointed to the position on Thursday, along with four other members of the company's Board of Directors.
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Bank of Maldives (BML) Chief Commercial Officer Zamra Zahir has been appointed Managing Director of Addu Hankede Development Corporation Limited, the state-owned company established to oversee tourism development in Hankede, Addu.
Zamra was appointed to the position on Thursday, along with four other members of the company's Board of Directors.
Two other members of BML's senior management were appointed to the board. They are Deputy Chief Executive Officer Sahar Waheed and Head of Corporate Banking Amaan Ali.
The government also appointed Abdulla Atheeq Mohamed, an Economic and Fiscal Policy Analyst at the Ministry of Finance, and Khadheeja Milha, a Debt Financing Analyst at the ministry, to the board.
President Mohamed Muizzu established Addu Hankede Development Corporation on 16 July as a state-owned enterprise tasked with developing Hankede under an integrated tourism model.
According to the President's Office, the company was established to expand tourism across Addu Atoll, distribute the economic benefits of the sector across the atoll and increase participation by local communities in tourism.
Hankede has been the subject of several tourism development plans under successive administrations.
Under the administration of former President Ibrahim Mohamed Solih, the site was allocated to the Maldives Fund Management Corporation (MFMC) in late 2022 for a tourism development comprising 1,041 rooms.
A USD 142 million loan, equivalent to about MVR 2.2 billion, was secured from a Chinese bank for the project, while the development contract was awarded to China National Electrical Engineering Company (CNEEC).
The Muizzu administration later decided not to proceed with the arrangement and cancelled the agreement.
The government subsequently announced plans to develop Hankede as a halal tourism destination before revising the proposal to an integrated tourism development model.
The site was later opened for bidding under the revised concept.
