A Chinese construction investment group has been awarded a project to build six commercial buildings in Hulhumale'.

The agreement was signed on behalf of the Maldives by Urbanco’s Managing Director Fazul Rasheed at a ceremony held in China today.

Urbanco said that the buildings will be constructed in Hulhumale' Phase II together with additional buildings to provide supporting services.

The additional supporting buildings will include retail shops, wellness and entertainment services as well as banking services. Urbanco also mentioned that the buildings are named ‘Spine’ as they will be connected. These three to four-storey buildings are set to be built in an area of 290,000 square feet.

Additionally, Urbanco has reported that the construction of the commercial spine will provide employment opportunities to people, entertainment, and expand guesthouse tourism in the area. Moreover, units will be leased out to businesses once the construction is completed.

The spine is set to become the largest commercial zone in the country and will also provide services to tourism bookings and hotel services in the region.

The project is valued at USD 50 Million.