Work is underway on six waqf buildings being developed as part of President Dr Mohamed Muizzu’s pledge to further develop the waqf sector in the Maldives.

Information obtained by MMTV under the Right to Information Act shows the six buildings are in different stages of development.

The largest projected revenue is expected from Darussalam, a waqf building being developed in Hulhumalé at MVR 244.5 million. The project is currently in the permit approval stage, with practical works yet to begin. The building is expected to generate MVR 52.4 million annually and is scheduled to be completed within 730 days.

In Malé, work has begun on sheet piling for Darul Argam, a waqf building developed for MVR 39.4 million. The building is expected to generate MVR 10.8 million annually and is expected to be completed within 530 days.

A waqf building in Kulhudhuffushi City, valued at MVR 10 million, is expected to be completed within 540 days and generate MVR 1 million annually.

In Gaafu Alifu Vilingili, first-floor works have started on a MVR 10 million waqf building. The project is expected to be completed within 540 days and generate MVR 500,000 annually.

In Gaafu Dhaalu Thinadhoo, material procurement is underway for another MVR 10 million waqf building. The building is expected to be completed within 540 days and generate MVR 744,000 annually.

The most expensive waqf building outside Malé is being developed in Addu City at MVR20 million. Design works are currently underway, with the project expected to be completed within 540 days. The building is projected to generate MVR 1.3 million annually.