The government of Maldives has signed an agreement with Kuredu Holdings Private Limited to develop a domestic airport on Madivaru Island in Lhaviyani Atoll. 

The agreement was signed between Minister of Tourism Moosa Zameer and Chairman of Kuredu Holdings Private Limited Mohamed Moosa.

While speaking after the signing ceremony, Tourism Minister Moosa Zameer revealed that the development of an airport in Lhaviyani Atoll would boost the economy and the tourism sector in the region. He further added that better transportation facilities would benefit the people of Madivaru.

Under the agreement, Kuredu Holdings Private Limited will invest to develop a domestic airport with a 1.2-kilometre runway and complete the project within a year. The government has also contracted Kuredu Holdings to construct a city hotel in the island.

Kuredu Holdings Pvt. Ltd developed Kuredu Island as a tourist resort in 1995-1996 and assisted sister company Komandoo Holdings Pvt. Ltd. to develop Komandoo Island as a resort in 1997-1998.  Kuredu Holdings owns and operate hotel resorts in the Maldives and are currently developing several new resorts.