Managing Director of the Greater Male’ Industrial Zone (GMIZ), Ibrahim Rasheed (Maamigili Ibu) has said that a multi-story warehouse will be developed in Thilafushi to arrange low-price storage of goods for small and mid-level businesses this year.

Speaking on Raajje TV’s “Falasurukhee” program last night, Ibu said that as a result, the price of goods on the market will be reduced by 25 percent.

Ibu said that during his talk with businesses, he learned that about 30 percent is included as storage when pricing even a toothbrush. And while warehouse storage is rented MVR 40 per square feet, the storage at Thilafushi will be at MVR 6 per square feet.

He said that reducing the prices on the market by 25 percent is a target of the GMIZ and compared to 2018, the company is going to become more profitable.

Ibu said that he wants to note that the net profit today is that collected by reducing the cost of operations.