New regulations enacted and brought into effect, allowing allocation of land to SOEs with President's approval
6 އޯގަސްޓު 2026 | ބުރާސްފަތި 21:19New regulations governing the allocation of land for non-residential purposes have come into effect, authorizing the government to grant land to state-majority companies with the President's approval. Under these regulations, land valuation and lease rates will be determined by a nine-member "Land Valuation Committee" appointed by the President.
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New regulations governing the allocation and registration of land for non-residential purposes have come into effect, authorizing the lease of land to state-majority companies with the President's approval.
The current administration first established these regulations in 2024. Since then, the regulations have undergone two amendments before being repealed and replaced by an entirely new framework. The newly formulated regulations include an additional provision that allows for the allocation of land to companies in which the government holds a majority stake.
According to the provision, notwithstanding any contrary stipulations in the regulations, land may be leased to government-majority companies in alignment with established government policies. Such allocations must be made upon the advice of the relevant land administration authority and with the formal approval of the President.
Under these regulations, land may be allocated through six distinct methods, which include the allocation of land to companies in which the government holds a majority stake.
Furthermore, regarding additional provisions within the regulations, it is stipulated that land prices and lease rates will be determined by a Land Valuation Committee appointed by the President. The regulations also outline the criteria to be considered in determining these values. These factors include the size and spatial capacity of the land, its economic potential, and market demand.
The Land Valuation Committee shall consist of nine members, with the chairperson to be appointed by the President from among the committee's membership.
Land Valuation Committee The committee is composed of a representative from the Ministry of Finance, two representatives from the ministry responsible for land use, and one representative each from the ministries overseeing economic affairs, fisheries, tourism, construction, and agriculture. Additionally, the committee includes a member from the Local Government Authority.
