MNP: Issuing foreigners land from Thilafushi is damaging to Maldivians

Leasing land from the industrial area in Thilafushi to foreigners is directly damaging to Maldivians, states Maldives National Party (MNP).

In a statement expressing displeasure over Housing Development Corporation (HDC)’s decision to lease land from Thilafushi to foreigners, MNP said creating competitiveness between local small and medium enterprises and foreigners in securing land will have a significant negative impact on local SMEs.

MNP said that SMEs continued to struggle to overcome the downturn from the Covid-19 pandemic, and that the party therefore found stripping the enterprises of the protections they are afforded unacceptable.

“This is directly damaging to the Maldivian economy and the income of families,” said the party.

MNP said it believes Maldives’ domestic and foreign policies must prioritize the protection of the interests of the Maldivian people.

HDC released its policies on issuance of land from the industrial area in Thilafushi last week. According to the policies, foreigners can be leased land for up to 99 years, while Maldivians can own the land.

The minimum bidding rate is MVR 1,700 per square foot.