The Housing Development Corporation (HDC) has officially handed over the land allocated in Hulhumalé for the development of the Kanneli fisheries project to the Ministry of Fisheries and Ocean Resources.

The handover took place at a ceremony held at HDC today. The agreement was signed by HDC Managing Director Ali Zuhair on behalf of the corporation, and by Fisheries Minister Ahmed Shiyam on behalf of the ministry.

The development of Kanneli fisheries is one of the key pledges of President Dr Mohamed Muizzu. Under the agreement, a fish hatching facility will be established in Hulhumalé to support the fisheries sector.

According to HDC, the project aims to ensure fair pricing for Maldivian fishermen and address long-standing challenges within the industry. The facility, funded by the Islamic Development Bank (IsDB), will also include areas for fish packaging and other related activities.

HDC reaffirmed its commitment to supporting government initiatives that contribute to national development and benefit the Maldivian people.