A Dubai-based company has secured the contract to manage and operate hotels at the yet-to-be-developed integrated tourism resort in Hankede, Addu City. Maldives Fund Management Corporation (MFMC) announced the agreement with Times Hotels and Conduit House in a post on X, confirming the handover of hotel operations following the signing at the Future Hospitality Summit in Dubai.
Despite the contract award, progress on the development remains stagnant, with reports indicating that only land clearance has been completed so far. The reasons for the delay have not been disclosed.
The previous government had awarded the contract to China National Electrical Engineering Company to oversee the integrated tourism project at Hankede. The resort’s development is financed by a $142.9 million loan from the Bank of China.
Once completed, the project is expected to include over 1,000 rooms, two grand hotels, two deluxe hotels, boutique accommodations, serviced apartments, beach villas, and various recreational facilities such as a knowledge centre, sports buildings, a theatre, and dining options.
The Maldivian Democratic Party (MDP) has previously raised concerns regarding the delays in the Hankede development, urging the government to commence the project as soon as possible.