Author: Mohamed Reehaan

Housing Development Corporation (HDC) on Saturday, 11th March, signed with six companies to develop cafes and restaurants at the Urban Boulevard which is developed near the area that connects Phase 1 and 2 of Hulhumale’. HDC selected the contractors through a competitive bidding process. The developers are required to fund the projects themselves, and are free to use their own design concepts. HDC selected the following parties to develop eateries in Hulhumale’ Urban Boulevard; Brothers Catering Refcool Celsius Private Limited Misraab Private Limited DineMore Restaurant Dreams Private Limited; was contracted to develop the first global franchise outlet in the boulevard;…

Dhiraagu and H One Sri Lanka have partnered to bring Microsoft solutions to the Maldivian market. H One is a leading Tier 1 Microsoft Licensing Solutions Partner and Cloud Solutions Partner from Sri Lanka with over a decade of operating in the Maldives. Dhiraagu and H One will be working together to deliver a comprehensive range of Microsoft products and services to customers in the region, which includes Microsoft technologies such as Modern Work Cloud, Modern Work Security, Apps and Infra (Azure), Modern App development, as well as data and analytics. “We are happy to announce our partnership with H…

The Maldives government collected a total revenue of MVR 1.72 billion in February 2023, reported Maldives Inland Revenue Authority (MIRA). Out of the total revenue, the state collected 73.60 million in US Dollars. The total revenue collected in February is an 18.6% increase compared to the same month last year. MIRA said this was because of an increment in the collections of TGST, GGST, Corporate Income Tax, Non-resident Withholding Tax, Airport Development Fee, and Airport Taxes and Fees. However, the collected declined by 20.8% compared to the initial projection. This decline, MIRA reported, was because of the collection of GST.…

Qatari investment company, Estithmar Holding has begun the development of its new ultra-luxury resort in the Maldives. The new resort, scheduled to open during the first quarter of 2025 will be managed by Rosewood Hotels & Resorts, the ultra-luxury global hospitality brand, and developed by Estithmar Holding’s subsidiary, Royal Resorts. The total investment of the project is reportedly USD343 million. The property will have 120 independent beach and overwater villas, ranging between one to five bedrooms, all with private pools. The center of the resort will feature specialty world-renowned restaurants, a wellness facility, a beach club, and other amenities. Estithmar…

Tourist arrivals to the Maldives have reached close to hitting 400,000 as of 07th March 2023. According to the Ministry of Tourism, statistics indicate the total tourist arrivals stood at 393,839 as of the review date which is a 24.2% increment when compared with the corresponding period in 2022 during which arrivals stood at 317,111. While tourist arrivals stood at 172,499 in January and increased moderately to hit 177,914 in February, the arrivals from 01st to 07th March stood at 43,426. The arrivals in March so far are a 19.5% increment compared to the same duration last year during which…

The Consumer Price Index (CPI) of the Maldives has risen by 0.96% in January 2023 from December 2022. Food and non-alcoholic beverages observed a 1.26% increment in price while furnishing household equipment prices including carpets, and other floor coverings increased by 1.23%. Additionally, prices increased by 4.34% from restaurants and other accommodation services while recreation and sports observed a 1.11% increment, and health sector prices observed a 1.23% increment. Other notable price increases were observed in tobacco and areca nut prices by 4.34%; fish by 1.65%; transport sector by 1.03%, personal care, and social protection prices went up by 1.93%,…

State Electric Company (STELCO) Managing Director Ahmed Shareef said the company will propose an additional allowance to female employees applying for technical positions. According to Shareef, the company’s management will submit the proposal to its board of directors for a decision. Shareef made the announcement during the ceremony held to celebrate the International Women’s Day, welcoming the Islamic month of Ramadan, and the lucky draw event to award Hajj and Umrah trips to four of its employees. Speaking at the ceremony, Shareef highlighted the company had a higher number of male employees. Shareef said that the company currently employed over…

The Maldives government announced seeking consultancy services for the design and supervision of the 400 housing units at Hulhumale’. The initiative titled Affordable Housing Scheme Project is funded by the Saudi Fund for Development (SDF). The successful consultancy firm selected for the project will be required to prepare the tender documents, undertake and prepare Environmental Impact Assessment (EIA) report, review detailed design, and supervise contractors’ works. The firm will be selected according to the Quality and Cost-Based Selection (QCBS) policy of the Ministry of Finance, in accordance with the procedure specified by SDF’s “Guideline for the use of Consultants”.  The…

Hard Rock Hotel Maldives has launched the “Rock & Soul Month”; a full 31-day health and fitness festival. The health and fitness program launched on 09th March will run until 07th April 2023. The program features activities ranging from morning runs, beach yoga, self-defense to dance fitness, aqua gym, strength sessions, and nutrition and lifestyle classes. During the health and fitness month, the program can be personalized by the guests to fit their unique needs. In addition to a holistic fitness program running a month long, Hard Rock Hotel Maldives has also introduced a new spa package dubbed “Aloha Package”…

State Electric Company (STELCO) has offered trips to Saudi Arabia to four of its employees to perform the Islamic sacred acts of Hajj and Umrah. The winners were selected through a lucky draw on Wednesday evening, 08th March at Kudagiri Picnic Island, on the sidelines of celebrating International Women’s Day as well as welcoming the Islamic holy month of Ramadan. STELCO earlier announced the opportunity to all of its employees, and the utility provider announced 96 male employees and 22 female employees were eligible for Hajj. From the total applicants to the Umrah offer, STELCO reported 262 male employees and…