Dhaka, Nov. 12 -- The Maldives is proposing large-scale Sustainable Townships under amendments to its Special Economic Zones (SEZ) Act to diversify tourism and attract long-term investment, officials said.

The developments would combine residential and premium hospitality real estate with commercial, education, and health and wellness facilities, aimed at creating jobs and expanding the country's tourism offerings beyond exclusive island resorts.

Projects must exceed USD 500 million in value to qualify, with developers benefiting from a 5pc income tax rate for the first 10 years and 10pc for the next decade.

A real estate transfer tax will apply progressively, starting at 1% and rising to 4pc by the third transaction, while other taxes...