Economy Economy / financial centre Hulhumale' Impact 5.0/10 4 min read

Scope changes for Maldives International Financial Centre project

The government announced that the contractor for the $8.8 billion Maldives International Financial Centre in Hulhumale' has proposed scope changes. Spokesperson Mohamed Hussain Shareef said work hasn't halted and the revised scope is under review. The project, awarded to MBS Global Investments (reportedly owned by Sheikh Nayef bin Eid al-Thani), has no physical work started. Completion is planned by 2030, aiming to double GDP and reduce tourism reliance.

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Adhadhu English

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Jun 13, 2026

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The government announced that the contractor for the $8.8 billion Maldives International Financial Centre in Hulhumale' has proposed scope changes. Spokesperson Mohamed Hussain Shareef said work hasn't halted and the revised scope is under review. The project, awarded to MBS Global Investments (reportedly owned by Sheikh Nayef bin Eid al-Thani), has no physical work started. Completion is planned by 2030, aiming to double GDP and reduce tourism reliance.

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