On January 1, China Machinery Engineering Corporation (CMEC), headquarters of China Machinery Engineering Group Corporation (CMEC Group), received the Letter of Award from BML Affordable Home Leasing Company Pvt Ltd., a subsidiary of Bank of Maldives, officially securing the contract for the Maldives Hulhumalé Phase II 1,224-Unit Affordable Housing Development Project. This milestone marks a strong start—“a strong opening”—for CMEC Group’s overseas business in 2026.

In November 2025, Fang Yanshui, General Manager of CMEC Group, led a delegation to the Maldives for a working visit. During the trip, he held in-depth discussions with senior executives of Bank of Maldives and witnessed the on-site signing of a Memorandum of Understanding (MoU) for the housing project. Under the strategic guidance of CMEC Group leadership, the project team acted swiftly, engaging in intensive, multi-round negotiations with the client over technical proposals, commercial terms, and implementation pathways within less than two months. The successful receipt of the Letter of Award at the start of the New Year fully demonstrates CMEC’s high-efficiency execution capability and its highly coordinated, professional approach to overseas project development.

The Maldives Hulhumalé Phase II 1,224-Unit Affordable Housing Development Project is located in Hulhumalé New Town, a key development zone within the Maldives’ capital region. The project entails the construction of 1,224 affordable residential units and has been formally included in the Maldivian government’s Inclusive National Affordable Housing Scheme, designating it as a priority livelihood initiative. It aims to alleviate the housing supply-demand imbalance in the capital region and improve living conditions for middle- and low-income households, playing a significant role in enhancing urban functionality and social welfare.

Upon completion, the project will substantially strengthen housing security in Hulhumalé New Town, significantly improve local residents’ living environments, and positively contribute to the integrated development of urban functions and socio-economic harmony in the capital region.

In recent years, CMEC has achieved substantial growth in the Maldivian market, deeply engaging in local infrastructure and livelihood projects. The company has continuously expanded its footprint across housing, municipal services, energy, and the blue economy sectors, building a solid track record and extensive implementation experience. This successful bid represents another major achievement in CMEC’s sustained efforts to advance high-quality overseas development in its traditional areas of strength, further underscoring its comprehensive capacity to maintain resilient, high-quality growth amid complex external conditions.