Tourism Minister Mohamed Ameen says 161 islands and lagoons leased for resort development remain undeveloped, some for up to 25 years, PSM News reported.
Ameen spoke at the "Ahaa" public forum on Sunday night, organised by the President's Office and PSM. He said previous governments had kept extending construction periods and deferring land rent instead of ending the leases.
PSM reported that the ministry estimates the money owed to the state at between USD 500 million and USD 600 million. Adhadhu reported the minister as saying the amount has passed USD 500 million.
The ministry gazetted a regulation on 10 September on extensions, rent deferrals and fines for unfinished tourism projects. It sorts delayed projects into four groups and sets out how agreements can be terminated.
According to Adhadhu, some unfinished resorts whose lease has not reached eight years will get a final chance to finish. The ministry may still give more time where over half of the construction is complete.
Ameen said enforcement will begin within a week. No lease has been terminated so far, and the ministry has not named any of the 161 properties.