According to the Annual Report of the Maldives Monetary Authority (MMA), the Maldives’ construction industry saw substantial growth last year. Commercial bank credit to the sector surged by 13%, primarily driven by increased lending for resort developments and residential housing projects. The construction industry recorded an overall growth of 3.7%, supported by an 11% increase in the importation of construction materials. Furthermore, the government is actively working to mitigate the impact of global price fluctuations, triggered by geopolitical tensions in the Middle East, on the domestic construction sector.
