President Dr Mohamed Muizzu has established Addu Hankede Development Corporation Limited, a State-owned company to oversee the development of the Hankede Integrated Tourism Development Project in Addu Atoll.

The company was established under Section 15 of the Companies Act through Presidential Decree No. 2026/12, published in the Government Gazette today.

The corporation will lead efforts to develop Hankede as an integrated tourism destination, expand the tourism sector in Addu Atoll, and ensure the economic benefits of tourism are shared more widely across the atoll.

It will also promote greater participation by Addu residents in the project and oversee the implementation of initiatives supporting the Government's development plans for the region.