President Dr Mohamed Muizzu has established Addu Hankede Development Corporation Limited, a State-owned company to oversee the development of the Hankede Integrated Tourism Development Project in Addu Atoll.

The company was established under Section 15 of the Companies Act (Act No. 7/2023) through Presidential Decree No. 2026/12, published in the Government Gazette today.

The corporation’s primary objective is to develop the Hankede area into an integrated tourism destination, expand Addu Atoll’s tourism sector, and promote the equitable distribution of tourism-related economic benefits across the atoll.

It will also strengthen the participation of Addu Atoll’s residents in the project and lead the planning and implementation of initiatives to advance the Government’s development objectives for the area.