Maldives Transport and Contracting Company (MTCC) has said it has the capacity to operate real-estate projects.
Speaking on programme aired by PSM News, Chief Operating Officer (CEO) Adam Azim said MTCC works in the transport and construction industry, with major projects in the Maldives conducted by the company. He said the company has the resources and the employees to flourish in the field.
Noting there are a lot of housing projects to be done in the country, Azim said more than 25,000 housing units are already needed to address the housing issues. Therefore, he expressed confidence that a company with resources and employees such as MTCC can bring a change to the housing industry.
Highlighting such projects were carried out by foreign companies in the past, he said that having a local company handle such projects will benefit the economy of the country as well. Azim suggested that the country should take the advantage of a company with such resources as MTCC. He said expanding the businesses of MTCC and constructing bridges, causeways, and housing units will benefit the country. He noted that MTCC already has 24,000 shareholders and expanding the business model will greatly benefit the shareholders.
MTCC has generated record profits over the past couple of years, with profits recorded above USD14 million in each of the past two years, as compared to profits of USD3 million it used to generate previously. The company aims to record a profit of USD20 million this year.