By The duration permitted for resort closures due to redevelopment has now been extended to two years, as outlined in the initial amendment to the regulation governing property development for tourism and lease deferrals. Previously capped at 18 months, resorts undergoing redevelopment now have the option to apply for an additional one-year extension, with the Ministry of Tourism holding the authority to further extend the redevelopment period if necessary.
To secure an extension, the regulation mandates a thorough inspection by the government of the premises, materials, and workforce involved in the redevelopment. Resort developers seeking an extension are also required to submit a comprehensive report detailing the progress of the work, accompanied by a certificate from an authorized quantity surveyor or structural checker. Notably, if property rights are transferred to another party through a court judgment, the commencement of the redevelopment period is set as the date of the transfer.
Previously capped at three years (or four years for resorts on uninhabited islands), the amendment grants the Ministry of Tourism the discretion to extend the redevelopment period beyond these limits. Notably, the amendment eliminates the necessity for resort developers to specify a completion deadline when requesting an extension for the redevelopment period, as well as the deferral of lease and fines.
