Minister of Climate, Environment and Energy, Mr. Thoriq Ibrahim, has officially opened the third edition of the National Build Expo, a landmark event in the Maldivian construction industry calendar.
Taking place at Central Park, Hulhumale’, the expo runs from 15:00 to 22:00 hours until January 14. This year’s expo is a significant platform for the construction industry, aiming to broaden and enhance the visibility of available services and products. It serves as an important gathering for construction firms to display an array of raw materials, heavy machinery, and other essentials related to construction.
The expo has attracted over 70 companies, each showcasing their unique contributions to the construction sector. These range from services to innovative products, offering the public a comprehensive insight into the industry’s capabilities and advancements.
During his speech at the opening ceremony, Minister Thoriq emphasised the construction sector’s vital role in national development, from small-scale projects to major undertakings like airport development. He referenced recent data from the Maldives Monetary Authority (MMA), which indicates a robust growth in the sector, with 15 new resorts and 323 guesthouses developed recently. Furthermore, projections from the Ministry of Finance suggest an anticipated annual growth of 7.7% in the construction industry over the next three years.
A key focus of Minister Thoriq’s address was the correlation between construction and environmental sustainability. He stressed the importance of identifying eco-friendly construction methodologies and integrating environmental considerations into building practices. In line with this, he highlighted the ministry’s ambitious project to plant five million trees over five years, underscoring a commitment to preserving the Maldives’ delicate ecological balance.