Maldives Woos Investors to Build New Longer-Stay Tourism Models
Photo Credit: A sandbank to call your own? Leasing of private islands for residential projects are now allowed. One & Only Reethi Rah, Maldives
Skift Take
While the "one-island, one-resort" concept will remain its unique sell, Maldives is moving to diversify its product offering, a step in the right direction. The question is, will investors bite?
Its tourism recovery within grasp, the Maldives is now competing hard for the attention of investors and has moved swiftly to enhance government incentives aimed at encouraging them to create and build new tourism models in the archipelago.
If investors bite, the future may see a more diversified Maldives tourism offering, and a more balanced development between central and far-flung atolls, and between luxury and affordable tourism.
Recent news of a bombing assassination attempt on former Maldives president and current parliamentary speaker Mohamed Nasheed may cloud investors' appetite. But Maldives has grappled with extremism for years.
The tourism pitch remains strong: the models include new integrated resorts, the leasing of private islands for residential purposes, and real estate developments with strata villas for long-stay tourism and/or individual investors.
These are expected to open wider opportunities for branded or non-branded residences, time-share development
