Business
Maldives offers resort construction period extension over virus disruptions
Many a developer involved in the construction of Maldives resort properties recently suffered project delays due to Covid-19 related lockdowns, shutdowns and interruptions.
More often than not, construction and development of a tourist resort happens with a combination of certain key factors: money, resources and time.
Any unwelcome time lags in the construction of a resort can affect the developer in many ways. It may result in breach of the construction permit, increased project costs, deterioration in workmanship, claims for compensation, renewal of permits – all having a degree of financial overlay.
It is not disputed that a Covid-style lockdown like the one we experienced recently would have resulted in cost increases with regard to labour material and equipment directly contributing to expanded field overheads.
It would have affected the ability to mobilise adequate manpower due to glitches in submitting documentation, seeking timely approvals and transporting them. It would have affected the timely import of materials, clearance and transportation of goods to locations due to interruption caused to supply chains. It would have also caused a series of concurrent delays where one component when held up has a cascade effect on rest of the components of the project.
Some of these developers who were affected by the lockdown communicated their concerns to the ministry of tourism. As a matter of relief, they requested that the construction period be extended to accommodate lost time.
The government seems to have appreciated their concerns in an amendment it brought out on June 22 to the Construction Period Extension Regulations.
The amendment enabled developers to apply for an extension of the construction period by an amount commensurate to time lost due to restrictions imposed or suffered pursuant to the public health emergency in effect since March.
According to this recent policy intervention, the developer in applying for relief should describe the delays encountered by the project due to restrictions imposed; define the period lost from the construction period; and provide documentation to support the claim.
On review of the application, if the ministry of tourism is convinced that delays did occur to the project and those delays are attributed to actions taken pursuant to the emergency (including lockdowns and shutdowns), the period lost from the construction period would be reimbursed in the form of an extension to the construction period. This extension will not attract a fee payment.
It may be noted that the construction period extensions provided in exchange for Covid-related disruptions would only entitle the developer for a commensurate extension of the construction period to accommodate time lags. This extension will not change the total lease period of the property.
The relief provided by this policy is limited to two things: the fact of reimbursement of time lost from the construction period, and this extension being granted without a fee.
This new rule is significant for a key reason: the lease agreement ordinarily provides the first 36 months of the tourism lease as a rent free period to develop the resort property. This is the three-year construction period.
Often times, the development of the property is not completed during that construction period for a host of reasons including insufficient or lack of funding, variations, changes to design drawings, and all sorts of other delays attributed to the supply chain. In these circumstances, an extension is invariably sought.
Extensions are generally granted to the construction period on application and payment of a prescribed fee. The fee is calculated at a base rate, charged on a per month basis, and prescribed in the regulations. The fee is applicable for each month of extension added to the construction period.
In consideration of this fact, the lease rent that would otherwise be levied from the end of the initial 36-month construction period (and applicable even during extensions) is deferred to be paid at a later date.
The key takeaway from this recent amendment is that qualifying applicants would be able to gain at least one to three months of extension to their current construction period, without the need for payment of an otherwise payable monthly fee.
Note: This article has been reproduced and adapted to fit our publishing guidelines with permission from its author: Nasheed & Co., a commercial law firm in the Maldives. The original article can be viewed here.
Business
BBM’s ‘Studio of Culinary Excellence’ opens at MNU to bridge classroom, industry
The best way to secure the future is to create it.
Creating that future through specific, purposeful initiatives is what drives people of purpose—and, in turn, moves us all closer to the future we desire.
The Maldives is a compelling case study of a tourism-driven economy. Look around and ask why an event is being staged, what someone is working on, or where a new initiative is leading, and the answer will often point to the hospitality sector. Securing the future, therefore, is inextricably linked to strengthening and advancing that sector.

Here, “strengthening” means making the sector’s contribution more sustainable; ensuring that a greater share of its growth benefits the community; continuing to offer a compelling value proposition to the discerning global traveller; and ensuring that visitor experiences continue to generate an unparalleled reputation and valuable referrals.
To achieve these outcomes in the future, it is essential that current and future generations of the local community engage actively with the industry. Making hospitality appealing and aspirational, enhancing the quality of delivery and service, and building a pipeline of skills and talent into the sector are areas in which initiatives, inspiration, infrastructure and investment should be concentrated.

It is firmly in this context that Mr Ismail Hilmy, Chairman and Managing Director of BBM, initiated the establishment of a modern, exceptionally well-equipped and thoughtfully designed model kitchen, aptly named the Studio of Culinary Excellence. By donating the Studio to MNU, under whose auspices it will serve the Maldivian culinary community, Mr Hilmy is responding directly to the need for deeper community engagement. At the heart of BBM’s framework for industry-outreach initiatives— “Because tomorrows start today”—is Mr Hilmy’s ethos of fostering engagement and vibrancy in the industry.
“For our students, the gap between the classroom and a working resort kitchen has always been the hardest one to close,” said Dr Shehenaaz Adam, Vice Chancellor of the Maldives National University. “The Studio of Culinary Excellence closes that gap. Students can now train on the same equipment and to the same standards they will encounter on their first day in the industry. We are grateful to BBM for a partnership that goes well beyond a donation, and we look forward to the Studio becoming a place where the university and the industry learn from one another.”

The Studio therefore creates an opportunity to develop a pipeline of skills and talent in service of the industry.
“Embedding purpose in our work has been an ongoing endeavour at BBM. It keeps us connected to our stakeholders and builds insight, understanding and trust. Being a meaningful partner to academia as we move into the future gives us a great sense of fulfilment and guides our initiatives under the banner, ‘Because tomorrows start today,’” said AVS Subrahmanyam, Chief Operating Officer of BBM.
But what is the value of physical infrastructure without the corresponding spark of aspiration and ambition?

As Ali Afrah Hassan, Executive Representative at Chairman’s Office – BBM, aptly observed: “The Studio offers students and members of the community hands-on experience with world-class equipment, together with knowledge-sharing masterclasses. Who knows—in the not-too-distant future, a Michelin-starred Maldivian chef may fondly credit some of their inspiration to time spent at the Studio!”
Now that is the mind and heart in sync—working towards a future that is aspirational, ambitious and entirely attainable.
Business
BBM Hulhumalé Phase 2 opening promotion winner receives Honda Airblade
Bestbuy Maldives (BBM) has presented a brand-new Honda Airblade motorbike to the winner of a lucky draw held to mark the opening of its newest wholesale outlet in Hulhumalé Phase 2.
The outlet, located at Lot 20286 on Nirolhu Magu, opened on 16 February 2026 as part of BBM’s expansion of its wholesale operations.
To celebrate the opening and thank customers for their continued support, BBM introduced a special lucky draw exclusively for customers who made purchases from the new outlet on its opening day.

Customers who purchased products during the opening were eligible to enter the draw, with a Honda Airblade motorbike offered as the grand prize.
The lucky draw was conducted on 13 August 2026, with Ibrahim Shifaz of Vagthun Vaguthah outlet selected as the winner.
Shifaz was recently presented with the ceremonial key to the Honda Airblade by AVS Subrahmanyam, Chief Operating Officer of Bestbuy Maldives.

The promotion formed part of BBM’s activities surrounding the opening of its Hulhumalé Phase 2 outlet, which provides customers with access to the company’s range of wholesale products from the growing residential and commercial area.
Bestbuy Maldives is a supplier and distributor serving businesses across the Maldives, including customers in the hospitality, food service and retail sectors.
Business
Football legends receive FIFA World Cup 2026 match balls signed by President Muizzu
Male’ Aerated Water Company (MAWC), the authorised bottler of The Coca-Cola Company in the Maldives, on Thursday hosted the Official FIFA World Cup 2026™ Match Ball Handover Ceremony, presenting Football Legends of Maldives with official FIFA World Cup 2026™ match balls signed personally by Dr Mohamed Muizzu, President of Maldives.
Held in partnership with the Ministry of Youth Empowerment, Sports and Fitness, the ceremony recognised former national footballers whose achievements, service and influence have helped shape football in the Maldives and inspired generations of players and supporters.
The Coca-Cola Company has been an official partner of FIFA since 1974, making it one of the longest-standing partnerships in the global sport. For MAWC, the handover brought that global partnership to life locally by connecting the FIFA World Cup with people who have contributed to Maldivian football history.
As the sole authorised Coca-Cola bottler in the Maldives for over 35 years, MAWC has supported local sport through partnerships, campaigns and community initiatives. The ceremony continued that commitment by recognising the legacy of players who represented the Maldives and contributed to the growth of football in the country.
“Maldives’ football legends have given generations of supporters moments of pride and have played an important role in shaping the country’s sporting history. At MAWC, we believe recognising their contribution is as important as supporting the next generation. Through our partnership with Coca-Cola and FIFA, and in collaboration with the Ministry of Youth Empowerment, Sports and Fitness, we are honoured to celebrate their legacy. These match balls are a token of our appreciation for what they have given to Maldivian football,” said Milind Derasari, Chief Operating Officer, MAWC.
Adding to the excitement of the football season, MAWC ran a nationwide FIFA World Cup 2026™ consumer promotion from 21 March to 24 May 2026. Eight winners received an all-expenses-paid experience for two to attend a FIFA World Cup 2026™ match. Hundreds more won Coca-Cola branded merchandise and other prizes during the campaign, bringing the excitement of the world’s largest football tournament to consumers across the Maldives.
MAWC remains committed to building partnerships that support the development of sports across the Maldives, working with the Government of Maldives and other partners.
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