Maldives Opens Bids for 15 Resort Sites: Complete 2026 Guide

The Maldives has opened 15 resort-development opportunities across six atolls, but the headline number hides four very different investment propositions. Ten are 200-hectare lagoon plots requiring reclamation. Three are reserved for a fully halal tourism model. One is a large natural island in Shaviyani Atoll with a vacant-possession condition. The final site is a tiny natural island inside a much larger Noonu Atoll lagoon, with permission to reclaim up to 15 hectares.

This is not a tender for 15 halal resorts. It is a package of four separate Invitations for Bids, issued on 6 August 2026, comprising 10 conventional lagoon developments, three dedicated halal tourism developments and two individual island projects. Together they specify at least 2,200 tourist beds and minimum lease-acquisition prices totalling USD 24,641,380.

The floor prices are only entry points. They do not represent the likely winning bids, annual rent, reclamation costs, infrastructure, financing, environmental approvals or the full cost of opening a resort. For qualified investors, however, the documents reveal one of the clearest snapshots yet of how the Maldives intends to expand tourism beyond its established central-atoll core.

The tender package at a glance

• 15 development sites across Haa Alifu, Haa Dhaalu, Shaviyani, Noonu, Laamu and Seenu atolls.
• 2,200 minimum beds: 1,500 across the 10 conventional lagoon plots, 350 across the three halal sites, 200 at Nalandhoo and 150 at Farumuli.
• 50-year leases under the Maldives Tourism Act.
• USD 24.64 million in combined minimum lease-acquisition costs, before any competitive premium or development expenditure.
• USD 35,000–50,000 bid security, depending on the tender.
• USD 1,500 to purchase a bid document for local applicants and USD 2,000 for foreign applicants. The payment is non-refundable.
• 17–23 November 2026 submission dates, depending on the site.
• Local and foreign investors are eligible, subject to the financial-capacity and documentation requirements in the bidding documents.

The four controlling notices are the 10-lagoon IFB No. 135, halal-tourism IFB No. 137, Farumuli IFB No. 139 and Nalandhoo IFB No. 144. Investors should monitor those official records for amendments rather than relying on press summaries.

The 10 conventional lagoon plots

The largest block is a single tender covering 10 lagoon plots in the northern Maldives. Every plot is estimated at 200 hectares, permits reclamation and requires a minimum of 150 tourist beds. The total minimum capacity is therefore 1,500 beds.

Haa Alifu Atoll: Maadhuni Faru

• Plot 1: 200 hectares; minimum 150 beds; minimum lease-acquisition cost USD 2,115,000.
• Plot 2: 200 hectares; minimum 150 beds; minimum lease-acquisition cost USD 2,115,000.
• Plot 3: 200 hectares; minimum 150 beds; minimum lease-acquisition cost USD 2,115,000.

The official coordinates place these sites roughly 15–18 kilometres in a straight line from Hoarafushi Airport and about 25–26 kilometres from Hanimaadhoo International Airport. Those figures are geographic indicators, not promised transfer routes; marine navigation, harbour design and operating permissions will determine practical guest-transfer times.

Haa Dhaalu Atoll: Makunudhoo Faru and Maafaru

• Makunudhoo Faru, Plot 2: 200 hectares; minimum 150 beds; minimum lease-acquisition cost USD 1,586,250.
• Maafaru, Plot 1: 200 hectares; minimum 150 beds; minimum lease-acquisition cost USD 1,586,250.
• Maafaru, Plot 2: 200 hectares; minimum 150 beds; minimum lease-acquisition cost USD 1,586,250.
• Maafaru, Plot 3: 200 hectares; minimum 150 beds; minimum lease-acquisition cost USD 1,586,250.

The Maafaru plots sit approximately 19–21 kilometres from Kulhudhuffushi Airport by straight-line calculation. Makunudhoo Faru is materially more remote: the conventional plot is about 65 kilometres from Kulhudhuffushi Airport. Transfer engineering and operating cost will therefore be central to the investment case.

Shaviyani Atoll: Gonaa Faru

• Plot 1: 200 hectares; minimum 150 beds; minimum lease-acquisition cost USD 2,115,000.
• Plot 2: 200 hectares; minimum 150 beds; minimum lease-acquisition cost USD 2,115,000.
• Plot 3: 200 hectares; minimum 150 beds; minimum lease-acquisition cost USD 2,115,000.

The plots are approximately 27–30 kilometres from Kulhudhuffushi Airport in a straight line. Funadhoo Airport is in the same administrative atoll but is not necessarily the geographically closest runway to these western sites, which underlines why atoll labels alone are not enough for transfer planning.

Across all 10 lagoon plots, the minimum lease-acquisition cost is USD 19.035 million. The bid deadline is 11:00 Maldives time on 18 November 2026. The official 17-page IFB includes the coordinates, floor prices, evaluation method and payment structure.

The three dedicated halal tourism developments

The halal package is the genuinely new product proposition within the wider announcement. It is not a light “Muslim-friendly” label applied to a conventional resort. The official halal IFB requires the entire island operation—from procurement and guest rooms to recreation, staffing and annual reporting—to follow a defined halal tourism standard.

• Makunudhoo Faru, Haa Dhaalu: 200-hectare lagoon plot; reclamation permitted; minimum 150 beds; minimum lease-acquisition cost USD 1,269,000.
• Fonagaadhoo, Laamu: 8.18 hectares; reclamation permitted; minimum 100 beds; minimum lease-acquisition cost USD 588,960.
• Dhonhera, Seenu: 8.38 hectares plus a separate 0.85-hectare feature-code island; reclamation permitted; minimum 100 beds; minimum lease-acquisition cost USD 498,420.

The Dhonhera measurement matters because several media reports describe a 10.23-hectare site. The controlling IFB lists 8.38 hectares plus 0.85 hectares, or 9.23 hectares combined. Bidders should use the official survey and tender documentation, not the secondary figure.

The three-site minimum lease-acquisition total is USD 2,356,380. Bids are due at 09:00 Maldives time on 18 November 2026.

From an access perspective, Fonagaadhoo is approximately 29 kilometres from Kadhdhoo Airport, while Dhonhera is approximately 13 kilometres from Gan International Airport. The halal Makunudhoo Faru plot is roughly 71 kilometres from Kulhudhuffushi Airport. Again, these are straight-line planning indicators calculated from the official tender and aerodrome coordinates, not guaranteed transfer distances.

What “halal tourism” legally means in this bid

The tender annex is unusually detailed. It defines a whole-island operating model designed for Muslim travellers while expressly maintaining inclusivity and hospitality for all guests.

The minimum requirements include:

• A completely alcohol-free and pork-free island, including guest rooms, kitchens, restaurants, retail and storage.
• Halal-certified food and beverages, or food demonstrably prepared under Islamic dietary requirements, with contamination controls throughout kitchen operations.
• Guest rooms with certified Qibla indicators, prayer mats, current prayer schedules, a Quran, halal or plant-based toiletries, water for ablution and no non-halal minibar or room-service items.
• Two separate purpose-built mosques: one for guests and one for staff. Both must include male and female prayer areas, private ablution facilities, verified Qibla direction and infrastructure for Friday prayers.
• Spas, gyms, swimming pools and similar facilities must be gender-segregated or operate separate schedules for men and women.
• Entertainment must avoid themes contrary to Islamic values.
• Appointment of a Halal Hospitality Coordinator and training for all staff in Muslim-friendly hospitality.
• Prayer time and Ramadan accommodations for employees.
• Suhoor, Iftar and Taraweeh arrangements during Ramadan, together with adjusted operating hours for fasting guests.
• An annual Halal Tourism Compliance Report to the Ministry, with government audit and inspection rights.
• Enforcement that may include financial penalties or revocation of operating approval for non-compliance.

Commercially, that is a sharper proposition than merely offering halal meals on request. It creates a fully dry, faith-aligned private-island environment with privacy, worship and operating standards designed into the asset from day one. It also changes the revenue model: investors cannot assume conventional alcohol-led beverage income, mixed-use wellness operation or entertainment programming.

The demand opportunity is real. Mastercard and CrescentRating project international Muslim arrivals to reach 208 million in 2026 and 262 million by 2030, with estimated annual expenditure of USD 310 billion. The Maldives already has the natural advantages of an Islamic country and private-island privacy; these tenders attempt to convert that baseline into an explicitly governed resort product.

Farumuli: a small island inside a strategic Noonu lagoon

Farumuli is structurally different from every other site in the package. The natural island is only 0.41 hectares, but it sits within a lagoon area of 71.18 hectares, of which up to 15 hectares may be reclaimed. The minimum resort size is 150 beds.

• Minimum lease-acquisition cost: USD 2,250,000.
• Bid security: USD 50,000, valid for 150 days beyond bid opening.
• Construction period: 48 months from signing the lease agreement.
• Lease-acquisition cost: payable within 60 days of the Letter of Award.
• Submission deadline: 09:00 Maldives time on 17 November 2026.

At approximately five kilometres in a straight line from Maafaru International Airport, Farumuli has the strongest obvious aviation-access story in the package. But its economics are reclamation-led: the winning investor is effectively acquiring a lagoon development opportunity anchored by a very small natural island, not a ready-made resort island.

The Farumuli IFB gives it a higher floor acquisition price than any single conventional plot and a faster payment requirement. Unlike the three larger package tenders, the short IFB does not state the same delayed year-five/year-six acquisition-cost schedule.

Nalandhoo: the largest natural island, with a possession condition

Nalandhoo in Shaviyani Atoll is a 63.99-hectare uninhabited island requiring at least 200 beds. It is the largest natural landholding in the package and sits approximately 19 kilometres from Funadhoo Airport by straight-line calculation.

• Minimum lease-acquisition cost: USD 1,000,000.
• Required proof of financial capacity: USD 10,000,000.
• Bid security: USD 50,000, valid for at least 180 days beyond bid opening.
• Construction period: described as not less than 36 months, subject to prevailing Ministry policy.
• Submission deadline: 11:00 Maldives time on 23 November 2026.

Nalandhoo also carries the package’s most important title-and-possession condition. The IFB states that vacant possession must be acquired. Within 30 days of the Letter of Award, the highest bidder must submit an agreement showing that the holder of any rights over the island has transferred or relinquished those rights. If that condition is not met, the award is cancelled, the bid security is returned and the opportunity moves to the next bidder.

That is not a minor administrative clause. A serious bidder should establish who holds the existing rights, what commercial or legal steps are required to obtain vacant possession, whether any separate consideration is expected and which risks remain with the bidder before pricing the tender.

The Nalandhoo IFB also contains a drafting tension worth clarifying. Its construction clause says the period will be “not less than” 36 months, while its acquisition-cost clause accelerates the full payment if the property is not operational by the end of an initial 36-month period. The Ministry should confirm how those clauses interact before bidders lock their financing model.

How the bids will be scored

For the 10 conventional lagoon plots and the three halal sites, financial capacity is a pass-or-fail prerequisite. Bidders must show equity equal to 20% of projected investment, using a minimum investment benchmark of USD 100,000 per room.

Responsive bids are then scored through three positive components:

• 60% for the proposed lease-acquisition cost, calculated against the highest proposed price.
• 20% for renewable-energy use, rising from 2.5 marks at up to 30% renewable energy to the full 20 marks at 80.1–100%.
• 20% for the proposed corporate-social-responsibility contribution.

The lagoon and halal tenders also deduct marks for specified unsustainable practices: five marks for constructing a harbour and 10 marks for proposing reclamation where reclamation is restricted. Because the announced lagoon and halal sites are marked as available for reclamation, bidders should confirm exactly where that second deduction could apply under the detailed bidding documents.

Farumuli uses the same 60% price, 20% renewable-energy and 20% CSR structure but does not reproduce the same deduction row in its short IFB. Its CSR contribution is payable upfront with the lease-acquisition cost.

Nalandhoo is evaluated differently:

• 90% for the proposed lease-acquisition cost.
• 10% for a contribution to the Tourism Trust Fund’s training fund.
• A pass-or-fail USD 10 million financial-capacity requirement.

In other words, the 10 lagoon plots, halal projects and Farumuli explicitly leave meaningful scoring space for energy and social commitments. Nalandhoo is overwhelmingly a price competition once the financial threshold is cleared.

Payment timing and incentives

The conventional lagoon, halal and Nalandhoo tenders defer the lease-acquisition cost if the developer delivers on time:

• 50% in the first quarter of year five after signing the lease.
• The remaining 50% in the first quarter of year six.
• If the property is not operational by the end of the initial 36-month construction period, the entire acquisition cost becomes payable in the first quarter after that period expires.

The delayed schedule is therefore a delivery incentive, not a blanket six-year payment holiday.

The conventional lagoon projects and Nalandhoo state a duty-exemption allowance of up to 15% of project capital investment value. The halal sites receive 20%, covering categories including furniture, fittings, kitchen appliances, cutlery, resort equipment, electronics and guest amenities.

The halal tender also extends eligibility for a rent-waiver option under the Public Finance Regulation if the property opens within the construction period. The conventional lagoon and Nalandhoo documents refer instead to a rent-deferral option. These are eligibility provisions, not automatic entitlements; the detailed regulation and purchased bidding documents control the actual conditions.

The timetable investors need to know

Conventional lagoon plots

• Pre-bid sessions: 9 September and 14 October 2026 at 11:00.
• Bid documents available through 17 November 2026.
• Clarification deadline: 15 November 2026 at 13:00.
• Bid submission: 18 November 2026 at 11:00.

Halal tourism sites

• Pre-bid sessions: 9 September and 14 October 2026 at 10:00.
• Bid documents available through 17 November 2026.
• Clarification deadline: 15 November 2026 at 13:00.
• Bid submission: 18 November 2026 at 09:00.

Farumuli

• Pre-bid sessions: 9 September and 14 October 2026 at 09:00.
• Bid documents available through 16 November 2026.
• Clarification deadline: 12 November 2026 at 13:00.
• Bid submission: 17 November 2026 at 09:00.

Nalandhoo

• Pre-bid sessions: 7 September and 5 October 2026 at 11:00.
• Bid documents available through 22 November 2026.
• Clarification deadline: 18 November 2026 at 13:00.
• Bid submission: 23 November 2026 at 11:00.

The Nalandhoo IFB labels both pre-bid dates as Wednesdays, but 7 September and 5 October 2026 fall on Mondays. Prospective participants should confirm the dates directly with the Ministry and watch the Gazette for a correction or amendment.

What the announcement says about the Maldives development strategy

At minimum specification, the package could add 2,200 beds. That is equivalent to about 3.3% of the Maldives’ 67,475 operational-bed capacity recorded in December 2025. The projects will not all open simultaneously—and some may not reach development—but the scale is meaningful.

The geography is equally significant. None of these sites sits in the already dense North Malé, South Malé, Ari or Baa resort belts. Ten of the 15 opportunities are in the far north. The two southern halal sites are tied to regional-airport access through Kadhdhoo and Gan. Farumuli sits beside the Noonu luxury cluster and Maafaru International Airport.

The package therefore advances two forms of diversification at once:

• Geographic diversification, using northern and southern gateways to spread resort investment beyond the central atolls.
• Product diversification, creating a fully regulated halal-resort format rather than asking conventional resorts to add isolated Muslim-friendly services.

That ambition is consistent with the Maldives’ tourism master-plan emphasis on connectivity across all atolls. The hard part is execution: airport proximity alone does not solve boat routing, airline capacity, staff logistics, utilities, environmental approvals or the cost of building on reclaimed land.

The due-diligence questions behind the headline

Before treating a minimum acquisition price as a cheap entry into the Maldives, investors should answer at least the following:

• What is the all-in reclamation case? Bathymetry, reef condition, sediment movement, shoreline protection, EIA conditions and dredging distance can move capital expenditure by multiples of the lease price.
• What is the real room count? The IFBs specify beds, while the financial-capacity formula uses investment per room. The mix of standard rooms, family units and villas affects both compliance and capital requirements.
• Can the transfer proposition work year-round? Straight-line airport distance does not establish a safe, commercially viable marine route in both monsoons.
• What will win the bid? The published number is a floor. Because price can carry 60% or 90% of the score, the eventual winning acquisition cost may be higher.
• Can the resort open within the incentive window? Missing the 36-month trigger can accelerate the full acquisition-cost payment and jeopardise rent benefits.
• How much ancillary revenue changes under the halal model? A dry island and segregated wellness schedule affect bar revenue, event design, staffing, brand selection and guest segmentation.
• Which halal certification and audit processes will be accepted? The annex sets outcomes, but bidders should clarify competent authorities, reporting templates and the enforcement framework.
• Who bears the vacant-possession risk at Nalandhoo? The award is conditional on resolving existing rights quickly.
• What amendments follow the pre-bid meetings? These sites—particularly the halal locations—have appeared in earlier tender rounds. Current bidders should expect the Gazette record, not the launch-day article, to remain the final source of truth.

The bottom line

The August 2026 announcement is more consequential than its “15 new resorts” headline suggests. It combines large-scale northern reclamation, two strategically connected natural-island opportunities and the Maldives’ clearest attempt yet to establish a dedicated halal private-island product.

For investors, the attractive numbers are the 50-year lease term, deferred acquisition-cost structure on most sites, duty exemptions and access to a globally growing Muslim travel market. The difficult numbers are the 36-month delivery trigger, the 20% equity prerequisite, reclamation exposure, outer-atoll logistics and competitive price weighting.

The strongest opportunity will not necessarily be the lowest floor price. It will be the site where access, reclamation, brand fit, financing, environmental performance and demand strategy still work after every tender condition is costed.

This article is an editorial analysis of public tender documents available on 22 August 2026. It is not legal, financial or investment advice. Tender notices may be amended; bidders should purchase the official documents and obtain professional advice before acting.

Primary sources

• Maldives Gazette: 10 conventional lagoon plots, IFB No. 135
• Official conventional lagoon IFB PDF
• Maldives Gazette: halal tourism developments, IFB No. 137
• Official halal tourism IFB PDF and operating-standard annex
• Maldives Gazette: Noonu Farumuli, IFB No. 139
• Official Farumuli IFB PDF
• Maldives Gazette: Shaviyani Nalandhoo, IFB No. 144
• Official Nalandhoo IFB PDF
• Maldives Civil Aviation Authority: official aerodrome coordinates
• Mastercard–CrescentRating Global Muslim Travel Index 2026 release
• Maldives Monetary Authority: March 2026 Monthly Statistics
• Maldives Fifth Tourism Master Plan 2023–2027

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