RCC awarded MVR 244 million contract to build Waqf building in Hulhumale'

Ministry of Islamic Affairs has awarded the state owned RCC a Rs 244 million contract to construct the Waqf building in Hulhumale' Phase 1.

The agreement was signed at a ceremony at the Islamic Centre, with the minister of Islamic affairs representing the government and RCC Managing Director Ibrahim Rasheed signing on behalf of the company.

The contract, valued at MVR 244,508,842, requires completion within 24 months. RCC will also be responsible for maintaining the building for five years after construction. The project is being financed through the Bank of Maldives’ Islamic Finance facility, the ministry said.

The proposed 12-storey building will include basement parking, a reception area and additional parking on the ground floor.

The first floor will be designated for commercial use, while the third to 12th floors will house modern offices, prayer rooms and meeting rooms. The second and 11th floors will feature multi-purpose halls, and the rooftop will serve as a public terrace. A day-care centre is also planned.

According to the ministry, the Waqf building is expected to generate more than MVR 52 million annually, with 20 percent allocated to the Zakat House and the remaining 80 percent directed to the Islamic Waqf Fund.