The Maldives signed a joint venture agreement and memorandum of understanding with Dubai-based MBS Global Investments on Sunday 4 May 2025 to establish the Maldives International Financial Centre, a flagship project reported at approximately $8.8 billion. President Mohamed Muizzu witnessed the ceremony in Malé and launched the MIFC's official website and a scale model of the planned development.
One outlet so far Only Maldives Republic has reported this among the sources we monitor. A gap in what we monitor, not proof that others did not report it.
financing for the MIFC would be sourced through a combination of equity and debt, with confirmed commitments already in place totalling between $4 billion and $5 billion
the project represented a shift away from conventional borrowing towards long-term investment models
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Details reported by the Financial Times on Sunday indicate the project is valued at approximately $8.8 billion and is expected to cover over 830,000 square metres.
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Earlier reports gave US$36.5 million 9 May, 15:25 Maldives Republic
Details reported by the Financial Times on Sunday indicate the project is valued at approximately $8.8 billion and is expected to cover over 830,000 square metres.
Word for word from the report in Maldives Republic. Open the report
The planned financial free zone will reportedly accommodate 6,500 residents and create up to 16,000 jobs.
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The planned financial free zone will reportedly accommodate 6,500 residents and create up to 16,000 jobs.
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MBS Global anticipates the MIFC could triple the Maldives' GDP within four years and generate over $1 billion in annual government revenue by its fifth year.
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with confirmed commitments already in place totalling between $4 billion and $5 billion
Word for word from the report in Maldives Republic. Open the report
