The Board of Investments Revises the Definition of Sustainable Township Development as a Strategic Area of Investments under the Special Economic Zones Framework

` Volume: 54 Issue: 146 Date: 3 Rabeeu’l Awwal 1447 – 26 August 2025 Tuesday The Board of Investments Revises the D efinition of Sustainable Township Development as a Strategic Area of Investments under the Special Economic Zones Framework • The President’s Office For publication of regulations and guidelines in the Gazette, send to Boduthakurufaanu Magu legalaffairs@po.gov.mv Male, Maldives’ Phone: 3336211 Mobile: 7242885 Website: www.gazette.gov.mv Volume: 54 Issue No: 146 Government Gazette ` Board of Investments ްސ ްޓްނަމްޓްސެވްނިއ ްފޮއ ްޑޯބ Special Economic Zones ްސ ްނޯޒ ްކިމޮނޮކިއ ްލަޝެޕްސ Ministry of Economic Development and Trade ްޑ ޭރްޓ ްޑްނެއ ްޓްނަމްޕޮލެވިޑ ްކިމޮނޮކިއ ްފޮއ ީރްޓްސިނިމ Male’, ،ެލާމ Republic of Maldives ެޖ ްއާރިހެވިދ The Board of Investments Revises the Definition of Sustainable Township Development as a Strategic Area of Investments under the Special Economic Zones Framework The Board of Investments established under the Special Economic Zones Act (Act Number 24/2014), at the ninth sitting of 2025, formally endorsed the revised definition of Sustainable Township Development, as stipulated under Presidential Decree No: 1/2025, issued on 12 January 2025 and published in the Government Gazette. Definition of Sustainable Township Development: Sustainable township development projects considered under the Special Economic Zones framework shall meet the following requirements: • A minimum investment value of USD 500,000,000 (Five Hundred Million United States Dollars), where the entire investment amount is allocated specifically to the township development components. A sustainable township designated as a special economic zone shall be aimed at attracting high-net- worth individuals and families for leisure, extended stays, and to reside in the Maldives. Such projects shall include: 1. Real estate development, including private villas and high-end homes for families, 2. World-class healthcare or education facilities to position Maldives as a leading health or education tourism destination in the region, Page 1 of 2 Volume: 54 Issue No: 146 Government Gazette 3. Ultra-luxury tourist resort, hotel, and marina, 4. Self-sufficient infrastructure for energy and waste management, powered by minimum of 60% renewable energy to promote long-term environmental sustainability, 5. Tangible contribution to strengthening national food security by implementing modern agriculture and/or aquaculture solutions that demonstrably reduce dependency on imported food products, with specific targets to be agreed with the Government based on national priorities, 6. Supporting infrastructure to attract high-net-worth individuals and families to reside in the respective special economic zone in the Maldives, and; 7. Supporting infrastructure and essential amenities for staff and their families, including housing, education, healthcare, and recreational services. ________________ 26 August 2025 Page 2 of 2