Housing Development Corporation (HDC) has signed an MOU with World of Business Private Limited to complete the construction of the hotel building in Hulhumale. 

The construction of this hotel was previously under the State Trading Organization (STO). However, after several years, the state has settled with STO and handed over this project to World of Business Private Limited. 

The World of Business Private Limited was established to complete the hotel and run the facility, which will be developed with a dedicated section for Government offices as part of the state’s pledge. 

The hotel will feature a Media Village, Youth Centre, Heritage College, and a Medical College in the section dedicated to the Government. These facilities are scheduled for completion and handover within four months of construction commencement.

The rest of the hotel will be developed to a five-star standard with 158 rooms, set to begin its operations within nine months of construction. 

This is an important project under President Dr Mohamed Muizzu’s plan to develop a hotel with the latest facilities and quality services for tourists who are transiting or visiting the Maldives. 

The World of Business plans to operate the hotel under the name 'Manhattan Grand Hotel,' with 50 per cent foreign investment from Deep Seafood Company, a UAE-based firm.