Author: Mohamed Reehaan

Island Aviation has announced seeking bidders to develop a passenger terminal at Maafaru International Airport, Noonu atoll Maafaru. The regional airport’s operator has announced seeking local developers. Interested proponents must register for bidding before 12:00 pm on 12th February 2023. While IA announced for bidders to develop and expand the airport’s passenger terminal, it had earlier contracted Maldives Transport and Contracting Company (MTCC) to expand the runway under the second phase of the airport’s development project. Under the runway expansion initiative, MTCC will expand the current 2.2-kilometer runway by 2.85 kilometers. The project value is MVR 27.1 million. The regional…

The Maldives government is seeking bidders to develop 30 housing units in Shaviyani atoll Komandoo. The Ministry of Finance announced on Sunday, 05th February 2023. According to the ministry, bidding will follow National Competitive Bidding (NCB) policy. Moreover, the construction project has a fixed duration of 300 days. Interested bidders must submit a concept drawing for the bid. Once awarded, the concept will be further developed, said the ministry on its announcement.

Tourist arrivals to the Maldives increased by 30.9% in January 2023 according to the Ministry of Tourism. The ministry has reported a total arrival of 172,536 for January 2023, while arrivals in the same month last year stood at 131,762. Additionally, tourist arrivals in January 2021 stood at just 92,103; owing to the onset of recovery from the Covid-19 pandemic in 2020. Tourist arrivals from 01st to 04th February stood at 5,623 which is a 28.3% increment compared to the same duration in 2022 during which arrivals stood at 4,384. Moreover, arrivals in the same duration in 2021 stood at…

State Electric Company (STELCO) has expressed concerns over Male’ City Council’s non-cooperation. According to the utility provider, it has requested the council to provide them with land to install electricity transformers for three substations. The council, however, has not responded to STELCO’s multiple requests. STELCO is seeking to add transformers to the substations in the empty plot in Sinamale’ 2, the parking zone in front of Majeediya School, and the parking zone in front of the ‘Viyafaariveringe’ Mosque. The utility provider has also claimed the 630 kV transformer at Sinamale’ 2 plot is already malfunctioning with overload issues. STELCO said…

Maldives Transport and Contracting Company (MTCC) has provided updates on two urban development projects. According to MTCC, the breakwater and quay wall construction project in B. Hithadhoo is well underway. The contractor has confirmed existing harbor operations and the construction of the concrete jetty is currently ongoing, with 57% and 32% progress respectively. Scope of work for the project includes 14,929 cubic meters of dredging and excavation operations, 4,101 cubic meters of entrance channel dredging, construction of a 22-meter groyne, a 495-meter breakwater, a 90-meter revetment, and a 350-meter quay wall repair. Additionally, the project includes the construction of a…

Cinnamon Hakuraa Huraa Maldives was recognized as one of the Top 100 Global Hotels for 2023 by TUI Group. The luxury hideaway was recognized among the 100 best properties by TUI for its high visitor satisfaction score. TUI Group is one of the world’s leading tourism groups, with the group umbrella consisting of strong tour operators, 1,200 travel agencies, leading online portals, five airlines with around 130 aircraft, over 400 hotels, and 16 cruise liners. “We are delighted and honored to be recognized among TUI Group’s Top 100 list of this year. We take pride in ourselves in offering exceptional…

Under the vision of empowering the youth of Maldives to reach new heights, Maldives Airports Company Limited (MACL) launched a new apprenticeship program. The apprenticeship program was launched by MACL in partnership with the Ministry of Youth, Sports and Community Empowerment. MACL signed with the ministry at a special ceremony held on Wednesday, 01st February. The signing was held at Hulhule Island Hotel (HIH). MACL Deputy Managing Director Ibrahim Thoha signed on behalf of the airports company and the ministry’s State Minister Hussain Ismail signed on behalf of the state. The program will train 75 people in the skills they…

State Electric Company (STELCO) announced it will be reducing electricity rates from establishments that run NGOs or other social service agencies. The utility provider will be introducing a new ‘Social Category’ under electricity tariff to provide electricity at lower rates. STELCO Managing Director Ahmed Shareef said the company currently provided lower electricity rates for such establishments under the business tariff. Business tariff rates are comparatively higher than resident tariff. According to Shareef, mosques or football pitches are social environments that do not generate income, and thus, requires leniency. He also argued that treating these places in the same category as…

Bank of Maldives (BML) announced lifting the USD ATM withdrawal limit on Wednesday, 01st February 2023. The bank had imposed dollar withdrawal restrictions earlier in 2020 following the Covid-19 pandemic. Effective from 01st February, the monthly limit of USD 2,000 will be lifted. Customers will now be able to withdraw USD 1,600 daily from BML’s USD ATMs. BML has dollar ATMs at H. Marine Dream, Velana International Airport (VIA), and Renaatus Ithaa Muiy apartment complex at Hulhumale’. Customers with USD primary accounts can make daily international transactions of up to USD 3,000 from their debit cards. Dollar accounts can also…

The cumulative total of state expenditure reached MVR2.1 billion as of 26th January 2023, reports the Ministry of Finance. According to the ministry’s most recent update, the cumulative total of state revenues inclusive of foreign grants reached MVR2.06 billion by the review date. The state has spent 71% of its budget on recurrent needs. The remaining 29% was spent on capital expenditure. Meanwhile, the state earned 88% of its revenues from tax sources. The remaining 12% came from non-tax sources. The overall balance for the period is a deficit of just MVR44.3 million. The recurrent expenditure by the review date…