Agreement Signed For Construction of Dhaarul Salaam Waqf Building In Hulhumalé
Photo: Islamic Ministry
The agreement for the construction of the Dhaarul Salaam Waqf Building in Hulhumalé has been signed, awarding the project to local construction firm Rasheed Carpentry and Construction (RCC).
ހުޅުމާލެ ފޭސް 1 ބިނާކުރާ "ދާރުއްސަލާމް" ވަޤްފު އިމާރާތް ތަރައްޤީ ކުރުމަށް، އިސްލާމީކަންތައްތަކާ ބެހޭ ވުޒާރާ އާއި ރަޝީދު ކާޕެންޓްރީ އެންޑް ކޮންސްޓްރަކްޝަން ޕްރައިވެޓް ލިމިޓެޑާ ދެމެދު ވެވޭ އެއްބަސްވުމުގައި ސޮއިކުރުން pic.twitter.com/U2PPW9hnVN
— Ministry of Islamic Affairs (@MVIaffairs) November 17, 2025advertisement
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The signing ceremony took place on Monday at the Islamic Centre’s conference hall. The agreement was signed on behalf of the Ministry of Islamic Affairs by Minister Dr Mohamed Shaheem Ali Saeed, and on behalf of RCC by Deputy Managing Director Adam Raheem.
The planned 12-storey building will include a basement parking area, a ground-floor reception and additional parking, and a first floor designated for commercial use. Floors three to twelve will accommodate offices, prayer rooms, and meeting rooms. Multi-purpose halls are planned for the second and eleventh floors, and the rooftop will feature an open terrace. A daycare centre will also be included.
The building will be equipped with elevators and designed for easy access for persons with special needs. The project is valued at USD 15.9 million and is scheduled for completion within 24 months. RCC will maintain the building for five years after completion. Financing is provided through the Bank of Maldives Islamic Finance scheme.
Upon completion, the building is expected to generate more than USD 3.4 million in annual income. Twenty percent of this revenue will be allocated to the Maldives Zakat House, with the remaining 80 percent directed to the Islamic Waqf Fund.
The development forms part of President Dr Mohamed Muizzu’s initiative to expand the Waqf Fund and strengthen financial resources for the Islamic sector. In addition to the Dhaarul Salaam project in Hulhumalé, RCC has been awarded the contract for a Waqf building in Malé. Waqf projects announced for Addu City, Thinadhoo City, Kulhudhuffushi City, and Villingili in Gaafu Alifu Atoll have also been contracted to relevant parties. These initiatives are expected to support long-term growth within the Islamic sector.
