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Join the Nation-Building Journey of Gelephu Mindfulness City – Domestic Bond Launched to Support Gelephu International Airport(Thimphu, Bhutan, May 1, 2025)

In a powerful continuation of Bhutan's collective journey toward transformation, innovation, and global connection, the Gelephu Investment and Development Corporation (GIDC) is proud to announce the launch of the Gelephu Mindfulness City Nation Building Bond (GNBB) – a historic opportunity for Bhutanese citizens to invest directly in the future of our country.

This public bond offering marks a transformative moment: for the first time, Bhutanese within the country can take part in financing a project of national pride – the Gelephu International Airport, the cornerstone of the Gelephu Mindfulness City.

This Domestic Bond comes on the heels of the recently concluded and highly successful Fixed Term Deposit (FTD) investment opportunity through the ORO Bank, designed for Bhutanese living abroad. The FTD initiative represents just the first phase of our engagement with the diaspora, and we will continue to expand and strengthen this offering in the months ahead.

In response to heartfelt interest and feedback from Bhutanese within the country, GIDC and the GMC are now proud to extend this nation-building opportunity to those at home. This sequencing was deliberate: starting with the diaspora allowed the project to access global capital swiftly while operational groundwork for a domestic issuance was being carefully laid. With that foundation now in place, it is time for citizens within Bhutan to take part in shaping this historic legacy.

The Gelephu International Airport is not just a gateway – it is a symbol. A symbol of Bhutan's open-hearted embrace of the world, and a foundation for GMC to thrive as a South Asian hub for mindful innovation, green enterprise, and inclusive prosperity. As one of the largest infrastructure project in Bhutan's history, the Airport is both a physical and philosophical keystone of the vision set forth by His Majesty the King – one that will harmonize tradition with transformation.

GIDC, established under a Royal Charter as the investment arm of GMCA, is mandated to build an economy rooted in sustainability, technology, and national dignity. The GNBB issuance is not just an investment offer – it is a national invitation. A chance for every Bhutanese to be part of something far greater than bricks and runways: to be a co-architect of Bhutan's future.

We invite every Bhutanese – farmer or founder, civil servant or creative – to answer this call.

Key features of the GNBB include:

  • Tax Exemption: Coupon payments will be exempt from Personal Income Tax (PIT) in Bhutan and GMC.
  • Coupon Rate: The GNBB will have a coupon rate of 10% p.a.
  • Eligibility: Subscription is open exclusively to Bhutanese Citizens residing within Bhutan.
  • Listing: The GNBB will be listed on the Royal Securities Exchange of Bhutan Limited (RSEBL).
  • Allotment: The bonds will be allotted on an "equal allocation" basis.
  • Lock-in Period: A mandatory five-year lock-in period applies to all bondholders.
  • Secondary Market Trading is permitted after one year from the date of allocation, with trading restricted to individual investors (i.e., the bonds may not be sold to institutional investors).
  • Redemption is only possible on maturity; no premature redemption is permitted.
  • Risk Factors: As with any investment, GNBB carries inherent risks, including market, liquidity and counterparty risks. Investors are encouraged to review the Prospectus carefully and assess their risk appetite accordingly.

The GNBB offering will be accessible to eligible investors from 2nd May 2025 with all proceeds dedicated to the construction of Gelephu International Airport.

Subscription

Investors can access the bond through two distribution channels: broker services OR direct subscription on the Royal Securities Exchange of Bhutan Limited website: https://rsebl.org.bt/bond.

Our Distribution Partners

We have onboarded the following brokers to support the distribution of the GNBB.
  • Bank of Bhutan: +975 77789206
  • Bhutan National Bank: +975 17434138
  • Royal Insurance Corporation of Bhutan Limited: +975 77487283
  • ⁠Bhutan Development Bank Limited: +975 17455833
  • DK Bank: +975 17111010

About GNBB

For more information on the GNBB issuance, please visit Gelephu Investment and Development Corporation (GIDC) at https://gidc.bt.

About GIDC

Gelephu Investment Development Corporation (GIDC) is the investment arm of GMCA and is fully owned by the GMCA. The GIDC was founded and designed under a Royal Charter to own, operate and originate investment opportunities in both local and global businesses that proliferate the growth of the GMC and Bhutan.

Subscription form for GNBB

Abridged Prospectus for GNBBDownload GNBB Subscription Form (.docx)

For further enquiries please contact:

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