Business
Maldives to incentivise guesthouses via new SME bank
A financing company will soon be established under the administration’s policy on promoting local tourism in the Maldives, President Ibrahim Mohamed Solih announced Saturday.
Speaking at the closing ceremony of the Maldives Guesthouse Symposium 2018 held at the main convention centre of Dharubaaruge in capital Male, President Solih said the SME Financing and Development Corporation (SFDC) will be created with the shareholding of the government. It will be the first of its kind bank in the Maldives with the shareholding of city councils as well, he added.
The president stressed that SFDC would be first established as a financial institute which does not take deposits, but that it would be changed to a depository company later on. Financial and professional assistance would be provided to guesthouse businesses through this company, with loans to be issued from February 2019, he said.
“The bank will contribute in generating more wealth and ensuring economical sustainability of the Maldivian people,” the president said.
On a different note, President Solih shed light on the fact that tourism industry accounts for 70 per cent of the Maldivian economy and stated the importance of further developing the industry in order to achieve economic feasibility and individual growth.
The president underscored the high priority accorded to ensuring that all Maldivian citizens can enjoy the true benefits of tourism rather than a handful of business leaders. Tourism ministry was in the process of revising the necessary rules and regulations, he said.
President Solih highlighted that broadening tourism promotion to encompass guesthouse businesses is part of the first 100-days goals of his administration. He noted that the Maldives should not only be promoted as a luxury destination, and said that the middle-class market must be advertised as well.
“Guesthouse businesses are not currently being regulated properly, despite the rapid rate at which the business has expanded to all parts of the country. This could only be achieved by decentralising tourism management and making local councils the main powerhouse of guesthouse businesses,” the president said.
Held as part of the new government’s first 100-day pledges, the Maldives Guesthouse Symposium 2018 took place at the main convention centre of Dharubaaruge in capital Male. The one-day forum was attended by tourism minister Ali Waheed and top officials of relevant authorities along with representatives from 340 guesthouses located across the Maldives.
The main objective of the symposium is to create a platform for guesthouse operators and relevant government authorities to come together and discuss issues and constraints, providing strategic directions for sustainable development of guesthouse sector, which support environmentally sensitive business operations, whilst protecting the cultural and natural heritage of the island in providing maximum economic and social benefits to the local people.
The symposium recognises the need for sustainable development of the rapidly growing guesthouse sector of the Maldives, as well as the government’s commitment to identify and address issues and challenges faced by guesthouse operators and island communities.
Maldives, known world over for its upmarket tourism industry, has resorts in the hundreds spread across the archipelago. The industry has in recent years expanded to introduce more affordable segments, including guesthouses and liveaboards. Some 500 guesthouses have started operations over the past five years as the number of travellers that choose to stay in guesthouses rise.
Business
Feydhoo Hall opens at dusitD2 Feydhoo Maldives as new event space
Dusit International, one of Thailand’s leading hotel and property development companies, has announced the opening of Feydhoo Hall, a landmark event venue at dusitD2 Feydhoo Maldives, redefining the possibilities for meetings, celebrations, and destination events in the Maldives.
Designed to bring scale, flexibility, and creativity to island gatherings, Feydhoo Hall represents a bold step forward in positioning the Maldives as a dynamic destination for conferences, weddings, and large-scale social occasions.
Feydhoo Hall offers a versatile event complex designed to accommodate a wide range of gatherings, from corporate meetings and conferences to weddings and social celebrations.

At its core is the 390 sqm Main Hall, capable of hosting:
- Up to 300 guests in theatre-style setup
- Up to 240 guests for dining and banquet-style events
- Up to 200 guests for cocktail-style receptions
- Up to 144 guests in cluster-round configuration
Enhancing the flexibility of the venue are additional dedicated spaces, including:
- A 110 sqm Veranda Terrace, ideal for welcome receptions, breakout sessions, and pre-event gatherings, accommodating up to 100 guests for cocktail-style events.
- A spacious 1,000 sqm Lawn Space, perfect for large-scale outdoor celebrations, destination weddings, and open-air events, accommodating up to 400 guests for cocktail receptions and up to 350 guests for dining setups.
- The 55 sqm Ekugai Meeting Room, designed for smaller meetings and executive sessions, accommodating up to 30 guests in theatre or dining setup and 24 guests in cluster-round format.
Together, these integrated spaces create a seamless indoor-outdoor event experience, allowing planners to design dynamic and personalised event journeys.
True to the dusitD2 brand’s lifestyle-driven philosophy, Feydhoo Hall introduces a fresh approach to meetings and events — where productivity meets creativity in an inspiring island setting.
The venue offers flexible meeting formats designed to suit different event needs, including:
- Half-Day Meeting Package (4 hours) — ideal for focused sessions, executive meetings, and creative workshops.
- Full-Day Meeting Package (8 hours) — designed for immersive conferences, extended workshops, and large-scale corporate gatherings.
These thoughtfully structured packages provide planners with the flexibility to create impactful and seamless experiences, whether hosting intimate strategy sessions or dynamic full-day events.

Located just seven minutes by speedboat from Velana International Airport, dusitD2 Feydhoo Maldives combines accessibility with vibrant lifestyle energy, offering event planners and guests a rare balance between convenience and tropical escape.
With the introduction of Feydhoo Hall, the resort strengthens its position as a versatile destination — not only for leisure travellers but also for international conferences, creative retreats, luxury weddings, and large-scale social celebrations seeking something refreshingly different in the Maldives.
Business
BBM expands retail presence with new Hulhumalé outlet
Bestbuy Maldives (BBM) opened a new wholesale store in Hulhumalé Phase 2 on Monday.
The outlet is located on the ground floor of Lot 20286, Nirolhu Magu, and is intended to improve access to BBM’s imported goods for residents of Hulhumalé Phase 2 and for businesses operating in the area.
According to the company, the opening forms part of its plan to expand services closer to customers in line with population growth in Hulhumalé.
With the opening of the new store, BBM’s full range of imported and distributed products will be available at the Hulhumalé Phase 2 location. These include consumer goods from international brands such as Lifebuoy, Vaseline and Unilever.
The store will also stock wholesale food products from brands including Daily, Cavin’s and Redman.
BBM has supplied goods to resorts, hotels and retail outlets across the Maldives for several years.
Action
Ataraxis Grand & Spa hosts integrated work-and-dive corporate retreat in Fuvahmulah
Ataraxis Grand & Spa recently hosted a week-long, closed corporate offsite in Fuvahmulah for a US-based artificial intelligence company, highlighting the island’s growing suitability for integrated work-and-experience retreats. The retreat brought a group of 36 international professionals to the property, which was reserved exclusively for the programme.
Designed as a private company offsite, the stay combined structured daily work sessions with guided diving and beginner-friendly surf experiences, creating a balanced format that blended focused collaboration with physical reset.

A notable component of the programme was dive training and certification. During the retreat, 17 participants completed their Open Water certification, while a further six undertook the Advanced Open Water course, with training and dives scheduled alongside work sessions as part of the integrated itinerary.
Throughout the week, participants worked on-site using dedicated shared spaces supported by reliable high-speed internet, allowing meetings, informal collaboration and scheduled activities to take place within a single, uninterrupted environment. This setup enabled teams to move seamlessly between work periods and organised ocean activities without leaving the property.

Fuvahmulah’s natural and operational advantages formed a key part of the retreat’s appeal. As one of the Maldives’ largest inhabited islands, it offers immediate access to pelagic dive sites, internationally recognised shark diving and surf breaks suitable for instruction, alongside the infrastructure required to support extended group stays.

The offsite reflects a growing preference among technology and knowledge-sector teams for small-scale retreats that prioritise concentrated work environments and team cohesion over traditional conference formats. Such programmes typically involve longer stays and higher per-capita spend, aligning with sustainable, quality-driven tourism models.
The retreat also demonstrates how locally operated properties such as Ataraxis Grand & Spa are supporting this shift by delivering unified environments where accommodation, workspaces, connectivity and curated experiences operate as a single programme rather than separate services.

As organisations continue to explore alternative formats for strategy sessions, team resets and creative offsites, Ataraxis Grand & Spa’s experience positions Fuvahmulah as an increasingly viable destination for integrated corporate retreats.
Ataraxis Grand & Spa offers work-and-dive retreat programmes in Fuvahmulah that combine accommodation, dedicated workspaces, high-speed connectivity and organised diving and surfing.

Further information on retreat formats and dive-inclusive stays is available via the Ataraxis Grand & Spa website.
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