DOING BUSINESS IN MALDIVES

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CONSTRUCTION SECTOR

For six consecutive years the Maldivian construction industry is exhibiting double digit growth, and expanding. The fundamental reason behind this is the upsurge in large scale tourism resort development projects; development of infrastructure projects, tsunami rebuilding, and the never ending increase in demand for residential and commercial property development in the capital Male’. According to the Maldives Monetary Authority:

 

1. Construction related imports rose by 13 percent on annual terms, from US$172.3 million in 2007 to US$194.9 million in 2008

2. Commercial bank credit granted to the industry grew substantially by 54 percent (or Rf583.1 million), totaling Rf1,671.0 million at the end of 2008.

 

Existing Business Opportunity in Construction

The Maldives Tourism Development Corporation (MTDC) has invited those interested in the development and operation of Vodamulaa in Gaafu Alifu Atoll as a tourist resort to submit their expressions of interest. MTDC is inviting "local and foreign parties or multinational companies with demonstrated financial capability and/or experience in managing, developing and operating resort hotels to submit written Expressions of Interest for the financial and/or operational participation in the development and operation of a 150-room tourist resort" on Vodamulaa.