On January 1, Sinomach's China Machinery Engineering Corporation (CMEC), secured a contract from BML Affordable Home Leasing Company Private Limited, a wholly-owned subsidiary of the Bank of Maldives (BML). This marked CMEC's successful bid for a 1,224-unit affordable housing project in Hulhumalé Phase II, Maldives, signaling a strong start for CMEC's overseas market in 2026. 

Signing of memorandum of understanding to collaborate on the development of residential housing projects in Hulhumalé [Photo/CMEC]

Located in the core development area of the Maldives' capital region, the project has been officially incorporated into the Maldives' Inclusive National Affordable Housing Scheme (INAH), a key government livelihood initiative. It aims to alleviate housing shortages in the capital, improve living conditions for low- and middle-income residents, and enhance urban functionality and social welfare. Once completed, the project will significantly strengthen housing security in Hulhumalé and support balanced socio-economic development of the capital region.

Project initiation under the Maldives' Inclusive National Affordable Housing Scheme [Photo/CMEC]

In recent years, CMEC has steadily expanded its presence in the Maldives, participating in various infrastructure and livelihood projects across housing, municipal services, energy, and the blue economy. Securing this project is a significant achievement in CMEC's core business areas and highlights its strong capabilities to achieve high-quality, resilient overseas development amid a complex global environment.