Physical work has officially begun in Hulhumalé on “Darussalam,” the largest Waqf building to be developed in the Maldives. This 13-story project, a key presidential pledge of Dr. Mohamed Muizzu, is being executed by RCC with financial support from BML Islamic at a total cost of MVR 244 million. The project is slated for completion within 24 months.
The building is designed to include modern office spaces, a conference hall, a daycare center, and parking facilities. With an estimated annual revenue of MVR 60 million, the income will be distributed with 20 percent allocated to the Zakat House and 80 percent to the Waqf Fund. This initiative marks a significant advancement in strengthening the financial sustainability of the Islamic sector in the Maldives.
