Business

Construction industry in the Maldives

Though the industry may not be extremely prominent, construction is one of the most important sectors in the country. There are generally three types of projects carried out by the construction industry. Which is, residence, corporate and industrial. Residence projects are when houses are built. Corporate projects involve building offices, resorts and such. Industrial projects are ones such as harbour construction, land reclamation and etc. The construction industry, however, is usually underrated. So many people do not understand the complexity behind working in such an industry. That is why we contacted a few figures in the business to get some insight into their minds and to bring the difficulties they face into the light.

Mr Abdulla Majeed from Bison Construction gave us an extremely deep insight into the difficulties faced by their company when working in such an underrated industry. He first gave us some information on the projects that they are currently carrying out. He informed us that they currently do not have any residence or industrial projects and that they are working on two resorts namely You & Me by Cocoon Maldives and Bathalaa Island Resort.

Bathalaa Island Resort

He then went on to tell us about the hardships faced by them while working in the construction industry. He mentioned that one of the biggest challenges they face is that the required supplies have to be imported from other countries. He added that the goods take quite a long time in customs and this may lead to a delay in the starting of the project. He also stated that since the industry does not have a caretaker, it is simply up to those that work in the industry to deal with any issues that they may face. He pleads the government to aid in electing an individual to be in control of the construction industry.

Mr Siraj from RCNC gave us some information on the current projects in the company. He stated that they are currently working on 12 to 15 projects. He added that they do not have any ongoing industrial projects and that they are working on 9 residence projects and 4 corporate projects. We then asked him his opinion on the top 5 construction companies in the Maldives and he came back to us with top 3 as he believes the newer companies are still on their way to becoming as good as the top 3. The companies Mr Siraj included in the top 3 are Amin Construction. RCNC and Alia Construction.

Maagiri Hotel, one of the corporate projects of RCNC

He then mentioned the challenges they face while carrying out their construction projects. The main issue he pointed out was dewatering the land the building is to be built on. He elaborated on this saying that only one main pipe exists in Male for dewatering and that the ring road being tarred makes it extremely difficult for their company. Moreover, he also expressed that even though the problem is not directly theirs, they face many situations where their clients do not receive loans and this too end up delaying the start of the project.

Though their respective companies face a number of hurdles and hardships, both Mr Abdul Majeed and Mr Siraj believe that the real estate industry has an extremely bright future and that it will continue to flourish in the coming years. We can only hope that their faith in the industry will keep it thriving and that one day their dreams and hopes for the industry come true. The Maldives is still on the way towards development. We still have time. Hence, let us all work towards one common goal to bring the necessary development in the Maldives.

Full details are available at the link below:

Source URL: Corporate Maldives

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