Recognizing the airport’s pivotal role in the nation's economy, the President unveiled an enhanced expansion plan alongside the ongoing project—one designed to elevate the airport experience and ensure seamless travel for the millions who visit the Maldives each year.
Corporate Maldives
One of the most eagerly awaited milestones in the Maldives’ travel and tourism sector has been the ambitious Velana International Airport (VIA) development project, which has been in the works since 2016. Originally contracted to the Saudi bin Ladin Group on May 21, 2016, the project has encountered numerous challenges and delays, with multiple revisions to agreements and design changes over the years.
The initial funding included a USD 100 million investment from Saudi Arabia, complemented by USD 50 million from the OPEC Fund, USD 50 million from the Kuwait Fund, and a substantial USD 373.9 million loan from China’s Exim Bank. Further reinforcing its commitment, Saudi Arabia extended an additional USD 150 million in loans in 2023—USD 100 million to accelerate the VIA development and another USD 50 million earmarked for enhancing the Maldives' healthcare sector.
Successive administrations since the tenure of President Maumoon Abdul Gayoom—who oversaw the initial signing of the development agreement—have sought to bring this project to completion. However, despite these efforts, VIA’s transformation remains unfinished, with its completion becoming more crucial than ever, as the Maldives’ status as a world-renowned luxury destination continues to attract an ever-growing influx of travellers, straining the airport’s current capacity.
Although progress on the development has been gradual, 2024 ushered in a renewed vision for VIA under President Dr. Mohamed Muizzu. Recognizing the airport’s pivotal role in the nation's economy, the President unveiled an enhanced expansion plan alongside the ongoing project—one designed to elevate the airport experience and ensure seamless travel for the millions who visit the Maldives each year. The newly introduced plan incorporates several key upgrades aimed at making VIA more traveler-friendly, including:
Although the VIA development project was initially slated for completion by the end of 2024—perfectly timed to accommodate the Maldives' peak travel season—yet another round of delays has pushed the timeline further. As a result, the 2024 travel season once again had to rely on the existing VIA terminal, which was already operating beyond its capacity. Over the years, the project has become synonymous with delays, leaving many eagerly awaiting the day when the expanded airport will finally be ready to meet the growing demands of the Maldives' booming tourism industry.
Now, nearly nine years after the initial agreement was signed, there is finally a renewed sense of optimism that the long-awaited expansion will reach completion. Speaking at the Annual General Meeting of the Maldives Association of Tourism Industry (MATI), Deputy Chief Officer of Maldives Airports Company Limited (MACL), Ibrahim Ali Habeeb, confirmed that the latest development milestones are progressing according to plan. As per the most recent timeline, the expansion is now set to be completed by July 2025.
Once the project reaches completion, VIA will undergo a significant transformation. One of the most notable improvements for the travellers will be in immigration services, with the new terminal's immigration section set to be 280 times larger than its current counterpart—ensuring a far smoother experience for travellers. Additionally, Habeeb also confirmed that the long-anticipated installation of aero bridges is now complete, with testing scheduled to begin in March 2025. More than 50 percent of the interior work has also been finished, and external construction is nearing completion as well. With these final stages underway, there is growing confidence that the Maldives' main gateway will soon be fully equipped to support the country’s ever-expanding tourism sector.
