Maldives and China sign USD 50m project to develop commercial hub

Maldives and China have signed a USD 50 million project to develop an integrated tourism zone in Hulhumale’.

The agreement was signed by Housing Development Corporation (HDC)’s Managing Director Ibrahim Fazul Rasheed and Hunan Construction Investment Group’s Managing Director Cai Dianwei on Tuesday morning, on the sidelines of President Dr. Mohamed Muizzu’s state visit to China.

The USD 50 million project named “Commercial Spine” will see the development of Urban Isle – an integrated tourism zone that is designed to boost the tourism industry and create new jobs in the greater Male’ area.

According to the government, the project will play a key role by providing supporting activities for the planned hotels in the Urban Isle.

The Commercial Spine Project consists of seven buildings connected to each other via bridges - six commercial buildings and one supporting building.

It will create total 290 square feet of commercial space with common areas.

The commercial spine will consist of low-rise buildings to create a unique building, which the Maldivian government said will be one of the most iconic buildings of Maldivian architecture.

It was named “spine” because of how individual buildings are integrated to each other, both physically and activity wise.

Once done, the project will deliver the single biggest commercial zone in Maldives; boosting local tourism, and creating space for local artisans to showcase and sell their products to tourists, as well as bringing in major brands.