Government establishes DRHC to develop 10 resorts under citizen profit-sharing plan

The Government has established a new state-owned company to develop and operate resorts under an initiative aimed at distributing a share of tourism profits directly to Maldivian citizens.

Dhiveheenge Resort Hihsaa Corporation (DRHC) was established on Monday under Presidential Decree No. 19/2026 as a wholly government-owned company.

The company will develop and operate international-standard resorts and other tourism-related assets, while building an investment portfolio using state-owned lagoons, uninhabited islands and other natural resources.

Its mandate also includes increasing foreign currency earnings, creating employment and technical training opportunities for Maldivians, and working with domestic and international investors.

The Government plans to develop at least 10 resorts under the initiative over a three-year period.

President Dr Mohamed Muizzu first announced the plan during the 2026 Presidential Address in February, saying a significant portion of the profits generated by the resorts would be distributed equally among Maldivian citizens each year in foreign currency.

The Government also plans to introduce legislation under which every Maldivian citizen would become a shareholder in resorts developed through the initiative.

In September, the President said 10 islands had already been designated for the project and reiterated plans to complete the initiative within 36 months.

DRHC has also been tasked with incorporating environmental protection and renewable energy into the development and operation of its tourism assets.