Housing Development Corporation Limited (HDC) has announced its plans to amend regulations established by the former President Ibrahim Mohamed Solih's administration regarding the sale of land from Thilafushi, limiting land sales to Maldivians exclusively.
Housing Development Corporation Limited (HDC) has announced its plans to amend regulations established by the former President Ibrahim Mohamed Solih's administration regarding the sale of land from Thilafushi, limiting land sales to Maldivians exclusively for industrial purposes.
In a press statement released on Thursday, HDC revealed they were preparing to open the sale of land from Thilafushi exclusively to Maldivians very soon with changes being brought to the regulation.
According to HDC, the land available for sale in Thilafushi is designated for industrial purposes exclusively. HDC emphasized that this land could be used for various purposes, creating additional opportunities for businesses in the Greater Malé Region and providing them with permanent options for utilizing land to support business activities.
"While we are reopening the window to buy land from Thilafushi under new terms, the corporation will continue prioritizing the creation of opportunities for sustainable development of small and medium-sized businesses," the statement said.
The statement went on to detail that additional land would be allocated for lease in Thilafushi based on the proportion of land that is utilized in the initial stages.
HDC announced last month that land from Thilafushi Phase 2 could be owned by Maldivian nationals and leased to foreigners for a period of 99 years. However, the announcement was cancelled after public criticism was aimed at the provision allowing for the long-term leasing of land to foreigners.
Former President Ibrahim Mohamed Solih's government faced heavy criticism for leasing land to foreigners for 99 years. Despite the criticism, the previous government continued leasing the land to foreigners.
While attempts were made to block the Solih administration's leasing of land from Thilafushi through Parliament, the efforts of the then-opposition, now the current government, were not successful. At that time, the Maldivian Democratic Party (MDP), led by former President Solih, held a majority in Parliament.
The previous administration had decided to develop Thilafushi as an industrial hub and formulated a master plan to achieve this goal. Already, 151 hectares of land have been reclaimed from Thilafushi in accordance with the plans drawn up by the previous administration to develop the region.
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