The government has officially awarded a contract worth over MVR 127 million to develop a modern wet market complex in Malé, marking a major step toward upgrading one of the city’s busiest commercial hubs.
According to the Ministry of Construction, the project will be carried out on the current site of the Malé Local Market. The agreement was signed with TrustEng Maldives Private Limited, which will undertake the development of what is now named the Malé Wet Market Complex.
Permanent Secretary Mohamed Shamil signed the agreement on behalf of the ministry, while Managing Director Mohamed Abdul Hadi represented the contractor.
Project Timeline and Cost Details
The construction project is valued at MVR 126,359,594.94 and is expected to be completed within one year and six months.
Officials say the new development aims to modernize market facilities while improving accessibility and organization for both vendors and customers. Model designs released by the ministry offer a first glimpse into what could become a key landmark in the capital.
Inside the New Market Design
The planned structure will be a six-story complex designed to accommodate multiple market functions under one roof.
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Basement: Parking facilities
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Ground Floor: Fish market
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First to Third Floors: Vegetable market sections
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Fourth Floor: Food court
The layout reflects an effort to better organize market activities while enhancing the overall shopping experience. With dedicated floors for different goods and services, the new complex is expected to ease congestion and improve hygiene standards.
Background: Delays and Renewed Momentum
The development comes after earlier plans to modernize Malé’s market infrastructure faced delays. The fish market project, initially launched during President Dr. Mohamed Muizzu’s tenure as Mayor of Malé, had stalled due to various challenges.
However, the current administration has revived the initiative. Speaking at a community meeting held at Kalaafaanu School hall in Henveiru last December, President Muizzu noted that the project is being supported through grant assistance from the Japanese government.
He reaffirmed that the new fish market would be constructed on the existing Local Market site, in line with earlier plans.
Future Plans for the Existing Fish Market Site
What happens to the current fish market location once operations move? The government already has a vision.
President Muizzu revealed that the site is expected to be redeveloped into a new building designed to provide office space for businesses and associations linked to the fishing industry. This could create a centralized hub for industry stakeholders, potentially strengthening coordination and growth within the sector.
Efforts to redevelop the Local Market area are not new. Even during earlier planning stages, authorities had considered relocating both the Local Market and the fish market into a newly constructed building.
The broader goal has remained consistent: to transform Malé’s traditional market spaces into modern, efficient, and well-organized facilities that meet the needs of a growing urban population.
