Abu Dhabi-backed Velana International Airport in Maldives inaugurated with AED 330.5 million investment
The Republic of Maldives and the United Arab Emirates have marked another milestone in a longstanding partnership centered on sustainable development and infrastructure enhancement.
Over four decades of cooperation through the Abu Dhabi Fund for Development (ADFD) has seen the successful implementation of critical projects across sectors like tourism, energy, transportation, and healthcare. Most recently, two significant aviation projects, Maafaru International Airport earlier this month and Velana International Airport today, stand as the latest additions to a portfolio exceeding AED 1.11 billion (approx.
USD 302 million). These projects are not only infrastructural upgrades but also strategic interventions to enhance connectivity, drive economic growth, and position Maldives as a global hub.
Velana Airport Inaugurated
on Maldives' 60th Independence Anniversary
The Government of Maldives today inaugurated the Velana International Airport, a flagship development aligned with the country's strategic infrastructure goals, with participation from the Abu Dhabi Fund for Development (ADFD) highlighting its key role in the project.
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The event coincided with the 60th anniversary of the Maldives' independence, adding symbolic significance to the unveiling of this high-impact development.
The airport's transformation was made possible by a total investment of AED 330.5 million (USD 90 million) from ADFD, executed in two phases, and co-financed by the Saudi Fund for Development, the Kuwait Fund for Arab Economic Development, and the OPEC Fund for International Development.
This multi-stakeholder cooperation highlights a shared commitment among Gulf-based development partners to support inclusive and sustainable growth in developing nations.
The inauguration ceremony saw the presence of prominent leaders and officials, including:
Dr. Mohamed Muizzu, President of the Republic of Maldives
Mohamed Saif Al Suwaidi
, Director-General of ADFD
Rahma bin Abdulrahman Al Shamsi, UAE Ambassador to the Republic of Maldives
Senior representatives from the partnering development funds and both governments
The upgraded Velana Airport can now accommodate over 7 million passengers annually, a major boost to the nation's capacity to handle international travel and tourism. Key features of the project include:
Expansion of the western passenger terminal
Installation of 26 passenger boarding bridges
Development of a state-of-the-art international terminal.
These infrastructure upgrades aim to position Velana International Airport as a vital commercial, tourism, and investment hub in the Indian Ocean, enhancing the Maldives' global competitiveness in aviation and hospitality.
During the inauguration, President Dr. Mohamed Muizzu expressed heartfelt gratitude to His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, for the enduring support shown by the UAE towards the Maldives' development goals.
'ADFD's financing of Velana International Airport, in partnership with international collaborators, reflects our shared commitment to achieving sustainable development goals and demonstrates a long-term strategic vision for infrastructure development and growth in developing nations. The opening of this airport will further enhance the Maldives' position in the global aviation sector,'
he said, adding that the project marks a key step in strengthening the country's global aviation presence.
Mohamed Saif Al Suwaidi, Director-General of ADFD, highlighted the significance of the collaboration as a model for regional cooperation in sustainable development:
'Through our partnership with the Government of Maldives and regional development institutions, we have collectively contributed to the country's economic and social growth. Coinciding with the Maldives' Independence Day celebrations, the inauguration of Velana International Airport underscores our ongoing commitment to ensuring greater resource efficiency and supporting our partner nations to build a resilient economy and prosperous future,'
he said, noting that the project reflects ADFD's broader mission to support impactful, long-term growth in partner countries.
Maafaru Airport
Sets the Stage for Regional Connectivity
The Velana project follows the recent launch of Maafaru International Airport on 8th July 2025, another high-impact ADFD-funded initiative aimed at improving access to the country's northern islands and luxury resorts. Constructed with an investment of AED 367 million (USD 100 million), Maafaru Airport includes a 2,850-metre-long and 45-metre-wide runway, capable of receiving large wide-body aircraft including Airbus A330 and Boeing 777.
The airport is designed to serve as a key gateway to seven surrounding luxury resorts, playing a pivotal role in driving tourism revenue and employment in the region.
The inauguration ceremony was attended by:
Mohamed Saeed, Minister of Economic Development and Trade of the Maldives
Dr.
Abdulla Muththalib
, Minister of Construction, Housing and Infrastructure
Mohamed Saif Al Suwaidi, Director-General of ADFD
During the event, Minister Mohamed Saeed extended his appreciation to UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan, noting the strategic value of the bilateral relationship and the UAE's unwavering commitment to supporting sustainable development in the Maldives.
He also acknowledged ADFD's vital role in helping the country implement transformative projects and strengthen key economic sectors such as transport and tourism.
Partnership Built Over Four Decades
The Maldives' development partnership with the Abu Dhabi Fund for Development (ADFD) began in 1978. Since then, ADFD has financed 11 strategic projects across vital sectors such as transportation, tourism, energy, and healthcare, with total investments exceeding AED 1.11 billion (USD 302 million).
The recently inaugurated airport projects are a continuation of this enduring collaboration, aligning with the Maldives' national development agenda and the UAE's broader vision for international cooperation and sustainable growth.
Established in 1971, ADFD is one of the UAE's leading financial institutions, focused on supporting infrastructure development in emerging economies. The Fund manages UAE government grants for key strategic projects and follows a diversified investment strategy that enhances economic resilience in partner countries. It also finances UAE-based private sector companies to help expand their global reach and competitiveness.
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