Maldives Tourism Development Corporation (MTDC) officially opened its new 10-storey office tower in Hulhumale', ending 20 years of operating from rented premises in Male'. Tourism Minister Mohamed Ameen inaugurated the building, and MTDC Managing Director Haaris Mohamed said the company is preparing to develop a similar building in Male'.
The Hulhumalé development began with a land purchase agreement signed with the Housing Development Corporation (HDC) on 30 May 2022.
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The construction contract was subsequently awarded to Hunan No. 6 Engineering Company on 25 September 2023
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the foundation stone was laid on 17 July 2024. The building has since completed its principal construction works and is ready for use.
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expanding the company's investment portfolio and improving the utilisation of existing assets would be central to its long-term financial sustainability
the MTDC Tower opens up avenues for the company to secure additional revenue continuously
the company will continue to explore ways to build assets and expand revenue streams
MTDC is preparing to develop a similar building in Male' as well
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Maldives Tourism Development Corporation (MTDC) has officially opened their new 10 storey office tower.
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The new MTDC office building, located in front of the Hulhumale' Central Park, spans over 3,345sqft.
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To date, MTDC, established 20 years ago, was run out of rented premises in Male'.
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MTDC acquired the land in Hulhumale' for this tower in 2022.
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The development of the project was awarded to China's Hunan No. 6 Engineering Co. Ltd, which began work in 2024.
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Maldives Tourism Development Corporation (MTDC) has inaugurated its new 10-storey office complex in Hulhumalé Phase I
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Maldives Tourism Development Corporation (MTDC) has inaugurated its new 10-storey office complex in Hulhumalé Phase I
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Developed on a plot measuring approximately 6,195 square feet, the complex features administrative and commercial office spaces
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The company recorded a net profit after tax of approximately USD 2 million in 2025
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Earlier reports gave MVR 276 million 23 Apr, 08:27 The StandardMVR 762 million 31 Jan, 21:32 Maldives Republic
Maldives Tourism Development Corporation (MTDC) has officially opened their new 10 storey office tower.
Word for word from the report in The Edition. Open the report
The new MTDC office building, located in front of the Hulhumale' Central Park, spans over 3,345sqft.
Word for word from the report in The Edition. Open the report
To date, MTDC, established 20 years ago, was run out of rented premises in Male'.
Word for word from the report in The Edition. Open the report
MTDC acquired the land in Hulhumale' for this tower in 2022.
Word for word from the report in The Edition. Open the report
The development of the project was awarded to China's Hunan No. 6 Engineering Co. Ltd, which began work in 2024.
Word for word from the report in The Edition. Open the report
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