Hankede project likely to be completed in 2 years, says pres
President Solih stated that the Hankede project is an integrated resort, city hotel, guest house and water villa,all sustained in one project.
By
Fathmath Ahmed Shareef
President Ibrahim Mohamed Solih said on Saturday the real estate tourism project being developed in Addu Hankede island will be completed within two years.
According to the Tourism Act, the president has the power to designate islands, land and lagoons for the development of resorts, integrated tourism and government real estate development projects.
The government dedicated the two areas for real estate tourism through a decree issued by President Ibrahim Mohamed Solih in December 2021.
According to the decree, both the areas have been leased to Maldives Fund Management Corporation Limited, which is owned 100% by the government.
Speaking at a special ceremony held in Maradhoo on Saturday to launch the Addu land reclamation project, President Solih said that the Hankede project is an integrated resort, city hotel, guesthouse and water villa all in one project.
The president said:
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The project is currently in the planning stages
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Will be completed in two years
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The ongoing road construction and land expansion work is being designed as per the plan for Hankede
According to the president, under the Hankede project:
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Another 600 tourist beds to be added to other islands of Addu
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A total of 7,000 tourist beds will be operated in Addu when projects are completed
In 2006, a group was awarded the contract to develop a resort in Hankede area, one of the islands between Addu0Maradhoo and Hithadhoo. It was handed over to contractors a couple of times, but the work didn't take off. In 2021, K. Gaafaru was also included when the islands were earmarked for real estate tourism.
Real Estate Tourism Project:
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Four islands to be reclaimed from different parts of the country
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This is being done by the Maldives Fund Management Corporation
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MVR 7 million will be given to the company to execute the project
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Newly reclaimed islands to be allowed to build private islands; second home to be built
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The budget estimates MVR 231 million as revenue from the project in the next fiscal year
