Malé, Maldives – The President’s Office today released the fourth amendment to the Non-residential Use Land Allocation Regulation (2022/R-28) authorizing local councils to set minimum rent in non-residential areas in islands and cities.
The newly amended regulation states that local councils are to set minimum rent for non-residential areas according to the land-use plan of the respective islands and cities while taking into account the demand for land in the region.
City and island councils are to review the minimum rent every two years and must publish the set rates on the government gazette.
For land to be used for tourism, the councils must adhere to the Maldives Tourism Act (Act No. 2/99).