President Announces Plan to Develop Atoll Fihaara as Modern Commercial Front

President Dr Mohamed Muizzu announced on Thursday plans to develop the Atoll Fihaara area into a modern commercial front, with investment opportunities in partnership with the Government expected to open by mid-year.

The President made the remarks while delivering the Presidential Address at the first sitting of the first session of the 20th People’s Majlis for 2026.

He said the Atoll Fihaara area has been an integral part of the Malé waterfront for generations and emphasised that priority will be given to preserving the area’s façades as development progresses.

Reaffirming his Administration’s commitment to decentralisation, particularly in delivering citizen-focused services, President Muizzu said 27 uninhabited islands have been designated for commercial use to help councils strengthen their economic self-sufficiency. Seven of these islands have already been allocated to six councils.

The President also highlighted improvements in nationwide access to financial services, noting that Self-Service ATMs have been introduced across all inhabited islands. US dollar ATMs have been installed on seven islands, with plans to install 70 more, all expected to be operational by the end of March.

He said space will be identified this month for the Addu Hulhudhoo and Addu Meedhoo Council Secretariats, established following a public referendum. Administrative and municipal staff will be recruited and trained for the new councils, alongside revisions to council employment frameworks.

In addition, President Muizzu said feasibility studies for 50 council secretariat buildings have been completed. The project, funded through a Chinese government grant, is now at the location scoping and administrative preparation stage.