In a landmark move to redefine the urban landscape of the Maldives, President Dr. Mohamed Muizzu today inaugurated the revised Masterplan for Hulhumalé, signaling a transformative era aimed at sustainable development and economic revitalization. The comprehensive blueprint envisions Hulhumalé evolving into a dynamic financial and urban hub within the Greater Malé Region, poised to accommodate approximately 300,000 residents.
ރައީސުލްޖުމްހޫރިއްޔާ، ހުޅުމާލޭ މާސްޓަރޕްލޭން އިފްތިތާޙުކޮށްދެއްވުން pic.twitter.com/7WZtt3HzKE
— The President’s Office (@presidencymv) May 26, 2025
“This masterplan is not merely about infrastructure; it’s a commitment to enhancing the quality of life for our citizens while fostering economic growth,” stated President Muizzu during the inauguration ceremony. He emphasized the government’s dedication to collaborative efforts, urging all stakeholders to contribute to realizing this ambitious vision.
A centerpiece of the new masterplan is the proposed construction of a 100-meter iconic tower in Farukolhufushi, designed to establish a distinctive identity for Hulhumalé and stimulate job creation within the emerging financial district. This initiative aligns with the broader objective of positioning Hulhumalé as the financial nucleus of the region, complementing Malé’s role as the administrative center.
Addressing concerns regarding previous housing allocations, the Housing Development Corporation (HDC) confirmed that the revised masterplan preserves all land plots awarded under the former administration’s ‘Binveriya’ scheme. This assurance underscores the government’s commitment to honoring existing agreements while advancing new development goals.
In tandem with the masterplan launch, President Muizzu unveiled the upgraded HDC website, featuring enhanced functionalities such as streamlined processes for building and bid approvals, a whistleblower portal to bolster transparency, and a revised code of conduct. These digital advancements aim to improve service delivery and reinforce accountability within the corporation.
President Muizzu also highlighted ongoing reforms in state-owned enterprises, citing leadership changes intended to promote good governance and eradicate corruption. He acknowledged HDC’s proactive measures in this regard, noting the positive outcomes already evident from these reforms.
The President concluded by reaffirming the government’s unwavering commitment to swiftly implement the masterplan’s components, ensuring that Hulhumalé evolves into a model city that embodies sustainable development and economic prosperity for the Maldives.
