Maldives Airports Company Limited has mortgaged the Velana International Airport runway and land on Hulhule to Bank of Maldives as security for loans totalling approximately 56 million US dollars.
The arrangement was disclosed in company filings and related announcements. The funds are understood to support airport development and associated projects, including land reclamation activities.
Mortgaging core operational assets is a significant step for the state-owned operator. Officials have previously outlined major expansion plans for Velana International Airport to handle rising tourist arrivals and cargo volumes.
Details of the loan terms, interest rates and repayment schedule have not been fully published. The transaction forms part of broader financing efforts by MACL and other state-linked entities.
The use of strategic infrastructure as collateral has drawn attention from analysts tracking the company’s debt levels and the government’s overall fiscal position.
MACL manages the country’s main international gateway. Continued investment in runway capacity and terminal facilities remains a priority as tourism recovers and expands.
