The central bank, Maldives Monetary Authority (MMA) has purchased land in Hulhumale' to construct a new office building.
According to a recent civil court judgment, the MMA has acquired 43,400 sqft of land in Hulhumale' for MVR 210.9 million, equating to MVR 4,860 per sqft. The purchased land is situated in Hulhumale' Phase I, west of Central Park, a promising location for the new office complex.
The move comes from concerns regarding the current MMA building's location in Male'. The existing building is situated in a busy area, posing challenges in maintaining the safety and security of the premises.
