The Maldivian government has announced minimum investment requirements for several major development projects as part of its economic policy aimed at advancing state-designated initiatives for public benefit.
According to a decree signed by President Mohamed Muizzu, the government has outlined a total of 25 projects, including social housing, infrastructure development, and correctional facilities.
For social housing projects in the Male region, the government has set a minimum investment of USD 15 million for land reclamation across various locations. The projects will involve dredging land from K. Fushidhiggaru Falhu, K. Giraavarufalhu, and K. Gulhifalhu, each requiring a minimum investment of USD 5 million. An additional USD 5 million has been designated for social housing projects in other parts of the country. Road construction and utility services in these reclaimed areas are also allocated USD 5 million.
The decree further specifies a USD 55 million minimum investment for the development of the Central Prison Complex and Hope Island, a rehabilitation centre for children involved in crimes. The Hope Island project, set to be developed in K. Uthuru Thila Falhu, will involve USD 10 million for 15 hectares of land and USD 15 million for its development. The Central Prison Complex, also planned for Uthuru Thila Falhu, has been allocated USD 30 million, with USD 15 million assigned for land development and the remaining USD 15 million for the construction of the prison itself.
The decree also highlights investment in airport projects, coastal tourism initiatives, and causeway connectivity projects as part of the government’s broader economic strategy.
