Advertisement
Permanent Secretary, Ministry of Local Government Dr Fathimath Muna and Malaysia's Hextar Global's Maldivian Managing Director Ali Shareef show the agreement.

Malaysia company gets $36m deal for 55 council offices

Hextar Global has been awarded a $36 million (MVR 555 million) contract to construct 55 council buildings in various islands across the Maldives.

21 January 2025

Hextar Global, a Malaysian company, has been awarded a $36 million (MVR 555 million) contract to construct 55 council buildings in various islands across the Maldives.

The contract was signed at a formal ceremony attended by government officials and representatives from Hextar Maldives Monday.

The signing ceremony, held at the Ministry of Local Government's auditorium, saw the Permanent Secretary of the Ministry, Fathimath Muna, representing the government, while Hextar Maldives Managing Director, Ali Shareef, signed on behalf of the contractor.

The project will be financed on a contractor finance basis, a model designed to expedite development without immediate government expenditure.

Under this arrangement, Hextar Global will handle the construction of the buildings and recover its costs through future payments, once the buildings are operational.

Local Government Minister, Adam Shareef, emphasized that this project was awarded after an open call for proposals, which followed the introduction of the government’s Public Sector Investment Projects (PSIP). The agreement received approval from both the Ministry of Construction and the Ministry of Finance.

The project is expected to take two years to complete, though some of the island council buildings will be finished ahead of schedule.

According to Shareef, single-storey buildings are expected to be completed within one year, while two-storey structures will take approximately 18 months to finish.

"The buildings will be designed to accommodate the needs of the island councils, with a maximum of two floors for areas where space is limited," Shareef explained.

Many of the island councils in the Maldives are currently operating out of outdated, cramped, and substandard facilities, making it difficult for them to effectively serve their communities.

Comments

profile-image-placeholder