With local council elections approaching, the Housing Development Corporation (HDC) has awarded a roads project in Hulhumale’ to China’s Rotime Engineering and Technology Co. Ltd. at a price that sources say is much higher than the actual cost.
According to reliable sources close to HDC, the contract was given to Rotime for about MVR 90 million, while the project’s actual cost is expected to be around MVR 30 million. This means the contract is nearly three times the expected cost, or roughly 200% higher.
Sources say not everyone on HDC’s board agrees with the decision. “These are bad decisions. Even if the board approves it, not everyone is happy. HDC’s affairs are being conducted in a more secretive manner,” one source said.
When asked about the project cost, an HDC official referred questions to formal channels under the Right to Information Act.
HDC stated the agreement includes the construction and rectification of roads and described it as an important step to improve Hulhumale’s infrastructure. However, the company did not provide details about the contract value or which roads will be constructed.
Rotime Engineering and Technology Co. Ltd. has previously been awarded projects in the Maldives, including the Smart Warehouse Complex in Hulhumale’, the Children’s Center, and the Surfing Stadium in Male’. The company is also completing the “co-living” building in Hulhumale’ Phase 2.
Most roads in Hulhumale’ were originally built by Thailand’s Pruksa Company, with remaining roads developed by India’s Mohan Mutha Company in Phase 1 and Phase 2.
Observers note that awarding high-priced contracts to Chinese companies is not new. During the 2024 parliamentary elections, similar projects were given at high costs, including installing 32 elevators in the Hiyaa Tower for USD 18 million, while some of these projects have not yet started.
