Apr 19, 2017 (LBO) – Walkers CML International (Private) Limited, a subsidiary of MTD Walkers PLC, said it will build its first luxury residential project in the Maldives.
Walkers CML International signed the agreement for the ‘One Avenue’ real estate project with DAMAS Company Private Limited, a property developer in the Maldives, for the construction of a 10-storey complex with 95 luxury apartments.
The apartments are located in Hulhumale overlooking the scenic yacht marina.
“Securing this project in Hulhumale` is a step in the right direction of achieving our Group’s strategy to expand regionally,” said Jehan Amaratunga, executive deputy chairman of MTD Walkers PLC.
He said Walkers CML International was incorporated in order to capitalize on the opportunities present within the construction industry in the Maldives.
“Whilst there have been many challenges in setting up our local operations here in the Maldives, Walkers CML International was able to draw upon the Walkers CML Group’s experiences and expertise to secure the ‘One Avenue’ project,” says Hiran Bibile, Country Head of Walkers CML International.
The local construction partner, Vanquisher Construction Company, had also played a role in securing the project.
He further added, “this project contributed to the overall development objectives of the Group, and we will continue to make further efforts to establish our presence here in the Maldives whilst working alongside the stakeholders of the local construction industry to ensure that we contribute to the overall development objectives of the Government of the Republic of Maldives”.
19 April 2017.
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