Chinese company to construct seven buildings in Urban Isle

Jan 9, 2024, 12:08 PM

An illustration of the Urban Isle being developed in Hulhumale'.

An MoU has been signed with China's Hunan Construction Investment Group to construct seven buildings in the "Urban Isle" being developed in the north of Hulhumale'.

The memorandum of understanding was signed during President Dr. Mohamed Muizzu's ongoing state visit to China.

Urbanco Managing Director Ibrahim Fazul Rasheed signed the agreement on behalf of Maldives. Managing Director Cai Dianwei signed on behalf of Hunan Construction.

The project is reportedly worth USD 50 million (MVR 771 million).

Commercial Spine of Urban Isle

According to Urban Isle's investment brochure, the commercial spine area is dedicated to businesses as well as entertainment venues. There will also be restaurants, brand outlets and a wellness centre in the area.

Urbanco said all the buildings on one side of the 9,500 square meter area will be connected like a spine. The area has been named Commercial Spine because buildings are planned to be developed for the concept.

The seven buildings will be three stories high. The buildings will have about 30 business outlets. It will be the largest industrial area developed in Maldives.

Housing Development Corporation Maldives-China relations

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