The government of Maldives will be permitting the sale of land from lagoons and dry land to Maldivians.
The state budget presented to the parliament today estimates that MVR 300 million could be generated as income from the sale of land in this manner.
The budget read that reclaimed land from islands and areas are to be permitted for purchase by locals. The land is to be sold for those not residing in the area.
Areas of water considered as land (lagoon) is also to be permitted for sale. The government has decided to facilitate the purchase of 30 percent of reclaimed land through government expenditure.
Lagoon Land Concepts are to be introduced under separate regulations according to the budget.
The budget also read that 10 islands are to be leased as new tourist resorts in 2021. MVR 154.2 million could be generated as income from this, according to the budget.