RCC opens MVR 120m bond for Hulhumalé tower
Rasheed Carpentry & Construction has opened subscriptions for a MVR 120 million, five-year bond paying 8.50% a year to fund Blue Marina View in Hulhumalé, its lead arranger said.
Subscriptions opened on 10 November 2026 for a MVR 120 million corporate bond from Rasheed Carpentry & Construction (RCC), Dhivehi Investment Partners (DIP), the lead arranger, said in a Facebook post. The proceeds will finance Blue Marina View, a 17-storey mixed-use residential development in Hulhumalé Phase 2.
Bond terms
- Size: MVR 120 million
- Subscription period: opens 10 November 2026 and runs for 30 days
- Tenor: five years
- Interest: 8.50% a year, paid every six months
- Minimum subscription: MVR 10,000 (10 bonds), then in steps of MVR 1,000
- Principal repayment: in instalments over the term, in line with the offer terms
How to subscribe
The bond is a private placement. Eligible investors invited by RCC can subscribe and pay through the Maldives Stock Exchange's Viyana Portal, DIP said. DIP is Lead Arranger and Principal Adviser to RCC on the issue.
The project
Blue Marina View will combine homes and commercial space, DIP said. Its amenities include a terrace infinity pool, a gym and a kids' club.
RCC's website describes the project as a 17-storey residential tower in Hulhumalé.
