ADFD inaugurates Dhs367 million Maafaru project
This initiative reflects the shared commitment to advancing critical sectors and supporting a prosperous and sustainable future.
The inauguration ceremony was held in the presence of Mohamed Saeed, Minister of Economic Development and Trade of the Republic of Maldives; Dr. Abdulla Muththalib, Minister of Construction, Housing and Infrastructure of the Republic of Maldives; and Mohamed Saif Al Suwaidi, Director-General of ADFD, alongside senior ministers and officials from both parties.
ADFD played a key role in the construction of Maafaru International Airport, with a runway that extends across 2,850 metres in length and 45 metres in width, as well as accommodating several Airbus A330 and Boeing B-777 aircraft. This project aims to meet the growing passenger demand and serves as a gateway to seven luxury resorts across the Maldives and the surrounding region.
Regarding this inauguration, Mohamed Saeed, Minister of Economic Development and Trade of the Republic of Maldives, extended his appreciation towards President His Highness Sheikh Mohamed bin Zayed Al Nahyan, for his ongoing commitment towards sustainable development efforts in the Maldives.
He emphasised that the UAE's support reflects the strategic bilateral relations between the nations and the country's unwavering commitment to supporting partner nations in achieving their development goals. He also emphasised ADFD's key role in financing transformative infrastructure projects and its continued support for the development of key economic sectors in the Maldives.
Mohamed Saeed added, 'The inauguration of Maafaru International Airport construction, financed by ADFD, represents a transformative milestone in our national development journey. This strategic project is set to substantially enhance our infrastructure capacity, accelerate sustainable economic growth, and firmly position the Maldives as a world-class destination for tourism, trade and global investment,' he added.
Dr. Abdulla Muththalib said, 'Our strategic partnership with ADFD has been instrumental in delivering impactful, high-value projects that advance national priorities across the Maldives. The implementation of Maafaru International Airport is a testament to this collaboration through strengthening our transport infrastructure, fuelling economic activity, generating employment, and reinforcing the Maldives' role in global trade and connectivity'
He added, 'with this project, we aim to increase the airport's operational capacity. From inception to execution, we prioritised the integration of innovative technologies and state-of-art systems to elevate aviation safety and operational efficiency, while maintaining a strong focus on environmental sustainability and preserving the Maldives' unique natural ecosystems.'
Mohamed Saif Al Suwaidi, Director-General of ADFD, said, 'Our participation in this exceptional event marks a significant milestone in the development cooperation between Abu Dhabi Fund for Development and the Government of the Maldives. The inauguration of Maafaru International Airport reflects our mutual commitment to advancing sustainable development and strengthening infrastructure in our partner countries.'
Al Suwaidi added, 'This milestone project is fully aligned with our shared vision of driving economic progress and enhancing infrastructure resilience. We are confident that this project will result in multiple strategic benefits, from attracting foreign investment and enhancing tourism growth, to supporting the Maldives' long-term economic development.'
WAM
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
2 days ago
- Khaleej Times
UAE residents can now migrate to Maldives through new investment residency programme
UAE residents looking to migrate under residence by investment programme now have a new choice. Maldives — one of the world's most popular tourist destinations — has tied with international investment migration advisory firm Henley and Partners to build an investor visa framework specifically linked to real estate acquisition. According to Henley and Partners, the programme is still in development stage and more details will be shared in due course. The island nation is quite a popular tourist destination among UAE residents for its beautiful beaches and luxury resorts. In addition, the UAE firms have invested billions of dirhams in the island nation and some recently announced projects including Samana Developers. Philippe Amarante, managing partner and head of government advisory for EMEA at Henley & Partners, said the investment migration programme will capitalise on the country's world-class real estate offerings. 'The Maldives has long been a world-class destination for travellers. With this programme, we aim to extend that legacy to discerning global investors who see value in our people, our potential, and our future,' said Mohamed Saeed, Minister of Economic Development and Trade. 'The residence by investment programme will provide state-of-the-art properties with the utmost privacy and exclusivity. As a safe, stable, and peaceful island nation, the Maldives presents the ultimate hedge against geopolitical conflict or global pandemics, offering an unparalleled lifestyle and security to high-net-worth individual investors and their families,' he said. The new residence by investment programme will help Maldives diversify beyond traditional tourism revenues, attracting foreign investment through real estate acquisition and stimulating growth hospitality, infrastructure, and services sectors. A statement issued by Maldives said that there will be a rigorous due diligence framework to ensure the programme attracts only qualified and reputable applicants. 'Final visa and residency approvals will remain under the sovereign discretion of the Government of the Maldives, with robust mechanisms in place to safeguard the country's international standing and reputation.' Spread over roughly 90,000 square kilometres, the country — often described as a tropical paradise — is comprised of 1,190 Coral Islands, each surrounded by crystal-blue lagoons and grouped in a double chain of 27 atolls.
Gulf Today
2 days ago
- Gulf Today
ADFD signs first financing agreement with Laos for Dhs73.5 million road project
Abu Dhabi Fund for Development (ADFD) has signed a financing agreement with the Government of Lao People's Democratic Republic to support the development of the Southern National Road 13, with a fund of Dhs73.5 million (US$20 million). The project aims to strengthen Laos' transportation infrastructure by enhancing road quality and improving traffic safety. Thereby, supporting the nation's economic growth while promoting environmental sustainability, and enhancing internal and cross-border connectivity. The agreement was signed virtually by Mohammed Saif Al Suwaidi, Director-General of ADFD, and Phouvong Kittavong, Deputy Minister of Finance of Lao People's Democratic Republic, in the presence of senior officials and representatives from both parties. Al Suwaidi said, 'This agreement reinforces the fund's ongoing commitment to supporting development initiatives in emerging economies through financing strategic projects that contribute to social stability and enhance quality of life.' He added that this project, a crucial initiative within Laos' infrastructure sector, marks a significant step in expanding ADFD's multilateral partnerships and fostering regional integration. Such projects aim to empower communities to help overcome development challenges while pursuing long-term stability and prosperity. Al Suwaidi further emphasised that through its global partnerships, ADFD remains committed to adopt a development-driven approach, prioritising sustainable and high-impact financing across key sectors including transportation, energy, water, and healthcare. These efforts enhance partner countries' capacities to implement their national development plans and deliver lasting socio-economic outcomes. Kittavong expressed the country's appreciation for the effective partnership with the UAE and ADFD, underscoring the fund's role in supporting in enabling development initiatives. He noted that the Southern National Road 13 project is a strategic initiative that directly benefits citizens by enhancing transport accessibility, improving efficiency, and strengthening both local and regional economic integration. He further emphasised that the new route plays a key role in supporting the development of the agricultural sector in Laos by improving farmers' access to markets and reducing transport costs, thereby enhancing food security and increasing household income. He added that the project also supports the enhancement of public services and contributes to providing citizens with sustainable development solutions. Furthermore, he reaffirmed the country's strong interest in expanding collaborative partnerships with ADFD across additional economic sectors in future phases of development. The project covers the construction and upgrade of around 50 kilometres of road, including expanding 20 kilometres from two to four lanes with pedestrian sidewalks, and upgrading another 30 kilometres of existing roadway. It also includes traffic safety enhancements, measures to ease congestion, improved stormwater drainage, the installation of two truck weigh stations, and support for technical capacity-building initiatives. The road is expected to benefit over 48,000 households each year, positively impacting more than 255,000 individuals. It aims to advance economic activity, enhance access to essential services and markets, reduce travel time, and lower transportation costs. WAM
Zawya
2 days ago
- Zawya
ADFD signs first financing agreement with Laos for $20mln road project
Abu Dhabi Fund for Development (ADFD) has signed a financing agreement with the Government of Lao People's Democratic Republic to support the development of the Southern National Road 13, with a fund of AED73.5 million (US$20 million). The project aims to strengthen Laos' transportation infrastructure by enhancing road quality and improving traffic safety. Thereby, supporting the nation's economic growth while promoting environmental sustainability, and enhancing internal and cross-border connectivity. The agreement was signed virtually by Mohammed Saif Al Suwaidi, Director-General of ADFD, and Phouvong Kittavong, Deputy Minister of Finance of Lao People's Democratic Republic, in the presence of senior officials and representatives from both parties. Al Suwaidi said, 'This agreement reinforces the fund's ongoing commitment to supporting development initiatives in emerging economies through financing strategic projects that contribute to social stability and enhance quality of life.' He added that this project, a crucial initiative within Laos' infrastructure sector, marks a significant step in expanding ADFD's multilateral partnerships and fostering regional integration. Such projects aim to empower communities to help overcome development challenges while pursuing long-term stability and prosperity. Al Suwaidi further emphasised that through its global partnerships, ADFD remains committed to adopt a development-driven approach, prioritising sustainable and high-impact financing across key sectors including transportation, energy, water, and healthcare. These efforts enhance partner countries' capacities to implement their national development plans and deliver lasting socio-economic outcomes. Kittavong expressed the country's appreciation for the effective partnership with the UAE and ADFD, underscoring the fund's role in supporting in enabling development initiatives. He noted that the Southern National Road 13 project is a strategic initiative that directly benefits citizens by enhancing transport accessibility, improving efficiency, and strengthening both local and regional economic integration. He further emphasised that the new route plays a key role in supporting the development of the agricultural sector in Laos by improving farmers' access to markets and reducing transport costs, thereby enhancing food security and increasing household income. He added that the project also supports the enhancement of public services and contributes to providing citizens with sustainable development solutions. Furthermore, he reaffirmed the country's strong interest in expanding collaborative partnerships with ADFD across additional economic sectors in future phases of development. The project covers the construction and upgrade of around 50 kilometres of road, including expanding 20 kilometres from two to four lanes with pedestrian sidewalks, and upgrading another 30 kilometres of existing roadway. It also includes traffic safety enhancements, measures to ease congestion, improved stormwater drainage, the installation of two truck weigh stations, and support for technical capacity-building initiatives. The road is expected to benefit over 48,000 households each year, positively impacting more than 255,000 individuals. It aims to advance economic activity, enhance access to essential services and markets, reduce travel time, and lower transportation costs.
