Economic Minister Fayyaz Ismail has stated that the funds required for the Hankede development project has been secured, and Addu City will have 6,000 tourist beds by the time Gan International Airport is developed.

Minister Fayyaz made the remarks while speaking at the contract signing ceremony of GIA development project on Sunday. He stated that though Addu gained the title of a 'City' years back, Addu still lacks development. As such, Minister Fayyaz said that the government has formulated a holistic plan to develop Addu as the main economic hub in the south.

Minister Fayyaz added that the tourist beds in Addu will be developed alongside GIA and will be ready for the market by the time the airport is complete. He stated that in addition to Hankede development, the government will also develop five additional resorts in the region as well as reopen Shangri-La.

"We have secured the funds for Hankede development project. The project will commence once we reach an agreement with the existing guesthouses. This will also solve the resort issue. Addu's bed capacity will increase to 6,000 tourist beds," Minister Fayyaz said.

Hankede development project was recently announced by Maldives Fund Management Corporation who also publicized the designs for the resort.