Two years after a project was awarded to connect Male', Funadhoo, and Velana International Airport via a monorail system, work on the venture is yet to commence.
The Maldives Airports Company Limited (MACL) signed a Memorandum of Understanding (MoU) with China’s Beijing Urban Construction Group (BUCG) to execute this mega-project, which includes Funadhoo—an island the current administration has designated for development as a Special Economic and Financial Services Zone.
MACL announced the signing of the MoU with BUCG for the project, titled the "West Side Commercial Hub and Rail Transport Development," on October 14, 2024.
While the project was officially contracted to the Chinese firm in October 2024, the responsibility for securing the necessary financing had previously been assigned to Dubai’s International Free Zone Authority (IFZA). Economic Minister Mohamed Saeed confirmed IFZA’s involvement during a press conference held on May 25, 2024.
IFZA has also been tasked by the government with the development and management of areas designated as Special Economic Zones (SEZs) within the Maldives.
Project awarded to link Male' and Hulhule' with Funadhoo via monorail
The work was awarded to Dubai's International Free Zone Authority (IFZA), which is also responsible for developing and operating the Special Economic Zone (SEZ).
The government previously said that the monorail network would connect Male', Funadhoo, and Hulhule', and extend to Furanafushi, where the new seaplane terminal is slated for relocation. However, two years into the project's timeline, even the most basic administrative and land-related preparations remain at a standstill.
No practical steps have been taken to relocate the existing fuel farm on Funadhoo, nor has any work begun on the transition of the Sheraton Maldives Full Moon Resort & Spa currently operating on Furanafushi.
Without completing these logistical shifts, the government has yet to provide a timeline or a clear roadmap for when physical work of the monorail project will officially begin.
This project is among several high-profile "dream projects" announced by the current administration, which also include an underwater tunnel connecting Male' to Rasmale', the Addu Bridge, and the establishment of an international financial center.
