The Government has officially gazetted comprehensive regulations governing the allocation, lease, and sale of land for non-residential purposes under the Maldives Land Act (2003), establishing standardized procedures across all State institutions and local councils.
The regulatory framework will be implemented by the Ministry of Housing, Land and Urban Development, covering all commercial, industrial, and public service land assignments.
Key Objectives and Framework
The newly issued regulations establish clear guidelines to streamline real estate administration across the country:
- Defined Allocation Procedures: Sets uniform processes for land assignments, registration documentation, and recipient legal rights.
- Binding Agreements: Outlines explicit contractual obligations and responsibilities for land recipients.
- Jurisdictional Authority: Land owned by local councils within their jurisdiction will be allocated directly by the respective councils. All other State land will be managed and assigned by the Ministry.
- Presidential Alignment: All land allocations must align with policy directives set by the President under Article 3(a) of the Land Act.
Land Valuation Committee Established
To standardize real estate pricing, the regulations mandate the creation of a nine-member Land Valuation Committee appointed by the President under Article 9.
The committee is tasked with determining minimum lease rents, minimum sale prices, maximum lease caps for public service land, and baseline values for State-reserved land. Valuations will be dynamically calculated based on geographic location, local economic activity, and market demand.
Land Valuation Committee Structure
- Land Administration Ministry: 2 representatives
- Ministry of Finance: 1 representative
- Ministry of Economic Affairs: 1 representative
- Ministry of Tourism: 1 representative
- Ministry of Construction: 1 representative
- Ministry of Fisheries: 1 representative
- Ministry of Agriculture: 1 representative
- Local Government Authority: 1 representative
Compliance and Governance Requirements
- Centralized Registry: Councils and the Ministry must maintain updated registries of all land allocated or sold under the new framework.
- 6-Month Update Window: Existing land registers remain legally valid but must be updated to comply with the new standards within six months.
- Council Continuity: Responsibilities and authorities previously delegated to local councils will remain intact under the new framework.