The Government has formally submitted the "Real Estate Business Bill" to the People’s Majlis, establishing a comprehensive regulatory framework for developing and operating integrated real estate zones across the Maldives.

Under the provisions of the newly introduced bill, designated real estate zones may be leased to a master developer for a maximum tenure of up to 99 years. In addition, because all goods and services supplied within these zones fall under the tourism sector classification, transactions will be subject to taxation at the prevailing Tourism Goods and Services Tax (TGST) rate.

The legislation places paramount importance on upholding Islamic principles and safeguarding the social fabric of the Maldives. It strictly prohibits the import, trade, and consumption of alcohol, pork, and any products containing them by residents and commercial enterprises operating within the zones.

Furthermore, gambling and any activities explicitly forbidden under Islamic Sharia are barred within these zones. Master developers are also legally obligated to prohibit the construction of non-Islamic places of worship and to prevent the public display of non-Islamic religious symbols.

Addressing foreign property acquisitions, the bill explicitly stipulates that purchasing or owning property within these zones does not grant foreign nationals Maldivian citizenship.

To prevent disproportionate foreign control, the legislation establishes that no individual foreign national or entity from a single country may be registered as holding more than 25 percent of the total land area within any designated zone. In addition, in response to ongoing atrocities committed against the Palestinian people, the bill imposes a complete ban preventing Israeli citizens and Israeli-affiliated companies from leasing land or acquiring leasehold rights within integrated real estate zones.