Rainbow Construction Pvt Ltd has appointed First National Finance Corporation as its Investment Advisor, marking the company’s first step into raising capital through the Maldivian capital market.
The formal engagement agreement was signed between Hassan Ziyath, Chief Executive Officer of First National, and Mazin Ibrahim Rafeeq, Director of Rainbow Construction. The agreement outlines a framework for financing ongoing and upcoming real estate developments in Malé and K. Maafushi.
Speaking on the collaboration, First National CEO Hassan Ziyath said the firm was pleased to be partnering with a company known for its strong presence in construction and the real estate market. “At a time when real estate is a hot asset, this collaboration allows us to bring high-quality, in-demand projects to market with confidence,” he said.
As part of the mandate, First National will advise Rainbow Construction on the private placement process via the Viyana platform. The aim is to create opportunities for both retail and institutional investors to take part in the company’s growing project portfolio.
Director Mazin Ibrahim Rafeeq noted that entering the capital markets for the first time was a major step forward for Rainbow Construction. “We see it as an important opportunity to accelerate the growth of our real estate portfolio,” he said, adding that the company is “enthusiastic about expanding into new ventures that align with our strategic vision and long-term objectives.”
The partnership is expected to strengthen Rainbow Construction’s financial position and create new investment avenues within the Maldivian real estate sector.
With more than thirty years of experience in construction and property development, Rainbow Group remains a well-established player in the industry.
