China’s Hunan Construction Investment Group has successfully secured the contract for the construction of seven innovative buildings designed to resemble a “spine” as part of the Urban Isle project in Hulhumale. Accompanying President Dr. Mohamed Muizzu on his State Visit to China, Ibrahim Fazul Rasheed, Managing Director of Urbanco, signed the agreement with the aim of enhancing tourism and employment opportunities in the greater Male’ area.
The project, valued at USD 50 million, seeks to integrate three to four-story buildings across 290,000 square feet. These structures will house tourism boutiques, hotels, banking services, wellness facilities, retail shops, and various entertainment options, creating a cohesive hub to elevate the overall tourism experience.
Urbanco underscores the significance of the MVR 771 million (USD 50 million) estimated cost, highlighting the project’s crucial role in the Maldives’ economy. The “spine” concept symbolizes the interconnectedness of buildings, both physically and in their activities.
Positioned to become the Maldives’ largest commercial hub, the Urban Isle project is poised to generate business opportunities, drive economic growth, and enhance employment prospects for regional prosperity.
