Billion dollar Maldivian construction industry awaits Lankan investors

Maldives Construction Fair 2009 provides mega opportunity

A billion dollar construction industry awaits Sri Lankan investors who participate in the Maldives Construction Fair(MCF) to be held in Male in April,the President of the Maldives Association of Construction Industry (MACI) Mohammad Ali Jannah,said.

Addressing the launch of the Maldives Construction Fair 2009 at the Taj Samudra Hotel on Wednesday,he said that Maldives was a country that imports almost everything and with the new governments policy of large scale privatization,there are endless opportunities for the bold and enterprising,who want to be part of his country’s ambitious development programme.

"A one billion US dollar construction industry awaits investors who are willing to take the plunge in an environment of global recession and reap the benefits of cheaper prices.The construction of 10,000 housing units and 64 tourist resorts are in the pipeline.

The investment in new resorts have been estimated around US$ 40 million.This of course, is in addition to the existing resorts numbering around 150,which also require various supplies.I like to see intense competition, so that the end product would not only be good, but also reasonably priced."

The Maldivian government,wants to reduce the number of inhabitated islands from 1192 to 190, so that better infrastructure facilities could be provided.Many state ventures including the Male International Airport are also up for privatization.So these are some of the many areas which Sri Lankan constructors and suppliers could exploit,Jannah said.

Asked,as to when Hulumalle the island adjoining the capital Male,which is being constructed on land reclaimed from the sea,might be completed,he said that only his government would be able to give a specific answer."But,we know for sure that the new administration wants to divide Maldives into seven regions and develop all equally well."

Director, South Asia Exhibition Services(SAE) Imran Hassan said that the fourth Maldives Construction Fair,will be held from April 20 to 22,2009 at the Dharubaaruge Exhibition Hall, in Male.

Complementing Jannah for being the brains behind the Construction Fair,he said that Maldives continues to be the best choice venue ."It was chosen as the Indian Ocean’s Leading Destination at the World Travel Awards 2008 and many new islands and resorts are under construction,in addition to major infrastructure projects."

Organized by the Maldives Exhibition and Conference Services Private Limited, in association with MACI, this year’s Fair will showcase the latest products and services in the market.Over 4000 trade and business visitors are expected to participate, surpassing the 2008 figure of 3127.

They would include building and construction industry personnel, agents, distributors, contractors, state and private sector manufacturers,engineers, architects, interior designers and the general public,Hassan said.

Manager SAE,Husnie Rauff presented a video clip showcasing the facilities that investors could expect at MCF 2009 and how the Maldivian construction industry works.

Eighty percent of the participants at MCF 2008,he said were from Sri Lanka and he expects that number to increase this year,due to a fully privatized environment in the Maldives.

Source: island.lk