Hankede tourism project in Addu City has been awarded to China's National Electrical Engineering Company (CNEC).

Maldives Fund Management Corporation (MFMC)'s managing director Hassan Manik signed the integrated tourism development project agreement on Tuesday. USD 142 million (MVR 2.2 billion) has been secured for the project through a loan from a Chinese Bank's financing facility.

Hankede was declared part of the integrated tourism development project by President Ibrahim Mohamed Solih in December 2021. Hankede has previously been awarded to 5 companies for development without any field work completion. MFMC once again announced Hankede project and designs during President Solih's MDP primary campaign.

According to MFMC, 1,041 rooms of varying range will be developed as part of the project. The project is valued at USD 175 million (MVR 2.6 million).