In a landmark move signaling a strategic push to invigorate the national construction sector, the government on Thursday awarded a record 206 development projects to private companies.
The latest phase of this initiative saw the projects in nine sectors formally awarded at a special ceremony, presided over by the President Dr Mohamed Muizzu, marking what he described as the largest number of projects ever awarded to private firms by a government in a single day.
These projects, part of a broader government policy to foster growth and create opportunities, have been awarded to 53 different private companies.
Speaking during the ceremony, President Dr Muizzu confirmed that with the projects signed in the last two days, the total number of awarded projects now stands at 216.
The diverse range of initiatives aims to uplift various sectors, with significant allocations including:
Education Sector: 31 projects
Health Sector: 30 projects
Domestic Sector: 39 projects
Environmental Sector: 24 projects
Fisheries Sector: 2 projects
Sports Sector: 52 projects
Housing and Infrastructure: 13 projects
Religious Sector: 14 projects
Youth Sector: 1 project
The President emphasised the transformative potential of these ventures, particularly highlighting the construction of 825 housing units across 13 islands included in Wednesday’s construction contracts.
According to President Dr Muizzu, this historic initiative will provide vital funding to many companies and bring prosperity to countless families across the nation, reiterating a sentiment he first expressed on 21 October when he first announced this landmark initiative during a meeting with the residents of Gan, Laamu Atoll.
The government anticipates that this significant investment and reliance on private sector expertise will provide an unprecedented boost to the construction industry, stimulating economic activity, generating employment, and delivering crucial infrastructure and services to communities nationwide.