Maldives Airports Company Limited (MACL) has reached an agreement to pay MVR 1.7 billion for land reclaimed by the Capital Market Corporation (CMC), according to reports.
The payment relates to land created as part of broader reclamation works in the Greater Malé region. Details of the exact plot sizes and the timeline for settlement have not been fully disclosed.
MACL has been involved in several large financing and land-related transactions in recent years, including arrangements linked to airport expansion and related infrastructure. The latest agreement adds to the company’s financial commitments.
State-owned enterprises have faced scrutiny over inter-company land and funding deals. Further clarification from MACL or the finance ministry is expected.
