MFMC and CNEEC Sign Major EPC Contract for Tourism Development in Addu City
The Maldives Fund Management Corporation (MFMC) has officially signed an Engineering, Procurement, and Construction (EPC) contract with the China National Electric Engineering Company (CNEEC) for the ambitious Hankede Integrated Tourism Development Project. The agreement was signed by Hassan Manik, Managing Director of MFMC, and Mr. Wu Guisheng, President of CNEEC.
CNEEC, a government-owned Chinese engineering firm recognized for its global projects and listed among the top 225 international contractors by USA's Engineering News Record, will spearhead this USD 142.9 million initiative. The project marks a significant milestone for the Maldivian tourism industry and aims to transform Addu City into a more progressive and dynamic tourism hub.
The Hankede project will contribute substantially to the Government of Maldives' plan to develop 7,000 new beds in Addu City. It will introduce 2,082 beds across 1,041 rooms, accounting for 26% of the total target. The development will include two grand hotels, two deluxe hotels, ten boutique hotels, 64 serviced apartments, and 17 beach villas.
