Tourism demand
- Arrivals remain strong. The Maldives recorded about 441,000 tourist arrivals in January and February 2026 (January 227,000; February 217,000). Daily average arrivals rose from about 7,300 to about 8,000 year on year. Source: Ministry of Tourism statistics
- August 2026 recorded about 195,000 arrivals. Source: Ministry of Tourism statistics
- Resorts host the majority of arrivals, so resort capacity is the main driver of construction and refurbishment demand.
Construction activity
- The Maldives Monetary Authority reports that the construction industry grew 3.7% in its latest annual review, driven mainly by resort development, residential construction and real estate projects. Source: MMA annual review
- Bank lending to construction and real estate rose about 13%, and loans to the industry grew about 10%. Financing is available for well-prepared projects. Source: MMA
- Imports of construction materials rose 11% in 2025, after falling 7% in 2024, which points to more development activity. Source: MMA
Risks to plan for
- Material supply and price. The MMA reports shortages of key construction materials and higher prices for some inputs, linked to Middle East tensions. Build price escalation and longer lead times into budgets and programmes.
- Island logistics. Work on remote islands depends on barge and boat scheduling and weather windows. Programmes need buffer time for these.
- Operating resorts. Refurbishment on live properties needs careful sequencing around guest occupancy, noise limits and safety.