President announces plans to develop 10 resorts
Shares in the resorts to be distributed equally among all Maldivians
Resorts to be developed within three years
President Dr Mohamed Muizzu has established a state-owned company named Dhiveheen Resort Share Corporation (DRHC).
The company was established through a special presidential decree.
It was formed under the powers vested in the President by Article 15 of the Companies Act (Law No. 7/2023). The company has been set up to establish a system through which the Maldivian tourism industry can be developed sustainably, while ensuring that the economic benefits generated by the sector are shared equally among all Maldivian citizens, without discrimination.
The corporation will also work to increase the value of uninhabited islands, lagoons and other natural resources under state ownership, with the aim of building an investment portfolio that delivers the greatest possible long-term benefits to the State and future generations.
The company is wholly owned by the Government. Its objectives include developing and operating international-standard resorts and other tourism-related assets, with a strong focus on environmental protection and renewable energy. It will also seek to create employment and professional training opportunities for Maldivians.
According to the Government, the corporation has been established to increase foreign currency earnings for the national economy and build a strong, competitive tourism industry in the Maldives through partnerships with both local and foreign investors.
During the opening sitting of the first session of the 20th People’s Majlis in 2026, where he delivered his Presidential Address, President Muizzu announced a system designed to ensure that the benefits of the tourism industry reach individual citizens directly.
Under the initiative, the Government plans to develop at least 10 resorts over the next three years through a state-owned company.
President Muizzu said the Government had decided that a significant portion of the profits generated by these resorts would be deposited once a year, in foreign currency, into the bank accounts of every Maldivian citizen, with equal payments made to all.
He also said legislation would establish every Maldivian citizen as a shareholder in all resorts developed under the initiative.
