The Government has established Addu Hankede Development Corporation Limited, a State-owned company tasked with accelerating the development of Hankede in Addu Atoll and advancing regional economic growth.

The company was established today by President Dr Mohamed Muizzu under the powers vested in the President by Section 15 of the Companies Act. The decision was formalised through Government Resolution No. 12/2026, published in the Government Gazette.

The corporation's primary mandate is to transform Hankede into an integrated tourism destination through a comprehensive development model. It will oversee efforts to expand the tourism sector across Addu Atoll while ensuring that the economic benefits generated by the industry are distributed more equitably throughout the region.

The corporation will also promote greater participation by the people of Addu Atoll in the tourism industry and implement initiatives necessary to achieve the Government's broader economic objectives under the Hankede development project.

The establishment of Addu Hankede Development Corporation Limited reflects the Government's commitment to driving sustainable regional development, strengthening the local economy, and creating long-term opportunities for communities across Addu Atoll.