Maldives tourism ministry targets $90 million in unpaid resort debts

The Maldives government has introduced new regulations to address significant unpaid debts within the tourism sector. Tourism Minister Mohamed Ameen confirmed that unpaid resort rent and fines owed to the state have exceeded $90 million, with some debts dating back to 2013.

Under the new rules, the state is empowered to terminate lease agreements for tourism plots where no development has occurred for eight years and outstanding dues exceed $10 million. The ministry also holds authority to cancel leases if construction is deemed stalled or progressing at an inappropriate speed.

To manage ongoing developments, the ministry has established a framework for construction extensions. Developers may apply for an extension by paying a $100,000 fee, provided they have completed at least 50 percent of construction. Extensions are limited to one year for land plots and two years for lagoon developments.