Further details given by the President's Office clarify that the company has an authorized capital of MVR100 million, divided into 10 million shares with a nominal value of MVR10 each
The President's Office
On 30 May 2025, President Dr Mohamed Muizzu established a new state-owned company, Infrastructure Development Solution Company Limited, under Article 15 of the Companies Act (Law No. 7/2023). According to the press release published on the official website of the President's Office, the company was formed by Presidential Decree No. 14/2025 and officially published in the Government Gazette as of 30 May 2025.
Fully owned by the Government of Maldives, the company is set to drive urban development projects in both densely populated and rural areas across the country. In line with the Government’s economic agenda, it will focus on construction, casting, and related works using modern technology and resources.
Further details given by the President's Office clarify that the company has an authorized capital of MVR100 million, divided into 10 million shares with a nominal value of MVR10 each. Additionally, the statement also noted that it will operate as a separate legal entity with its own seal and will have the legal capacity to enter into agreements and initiate or respond to legal proceedings in its own name.
