Saturday, April 1, 2023
DhiDaily - English Edition
  • Home
  • Local
  • Reports
  • World
  • Business
  • Sports
  • Entertainment
  • Tech
  • ދިވެހި
No Result
View All Result
  • Home
  • Local
  • Reports
  • World
  • Business
  • Sports
  • Entertainment
  • Tech
  • ދިވެހި
No Result
View All Result
DhiDaily - English Edition
No Result
View All Result

STELCO to Enter Real Estate Market

Ibrahim by Ibrahim
May 17, 2022
0
STELCO to Provide Fine Relief
0
SHARES
22
VIEWS

Managing Director of State Electric Company Limited (STELCO) Ahmed Shareef has stated the company is seeking new business ventures such as the real estate market to reduce its dependency on the revenue generated from electricity services.

Managing Director Shareef said efforts are underway to establish revenue for the company through multiple businesses. As such, Shareef noted the company is seeking entry to the real estate business, as well as production of drinking water. He noted establishing additional forms of revenue will reduce STELCO’s dependence on electricity services, which would enable the prices of the service to be lowered.

Moreover, Shareef said real estate is guaranteed to bring in a large income for the company. He noted the two housing towers developed by STELCO in Hulhumale’ Phase II proves the company can be successful in real estate business. He revealed that STELCO is currently undertaking research to enter the business of luxury housing. Shareef also noted STELCO has the capacity to capacity to enter the market of water production. 

In addition, Shareef said STELCO plans to enter the marketing and advertising business, noting the company has decided to install LED TVs in different areas of Male’. He added the company also plans to enter the market of generating and supplying power to resorts, as well as providing engine setup, servicing and wiring.

These additional modes of revenue will enable STELCO to bring positive changes to the current prices of electricity services. As such, the company will be able to subsidise its services by up to 50% of current prices, according to Shareef.

Tags: STELCO

Related Posts

China’s CNEEC Awarded Hankede Integrated Tourism Development Project
Business

China’s CNEEC Awarded Hankede Integrated Tourism Development Project

April 1, 2023
Azim Resigns to Pledge Support for President Solih
Local

Azim Resigns to Pledge Support for President Solih

April 1, 2023
Maldives’ Population Reaches Over 500,000, with 26% Foreigners
Local

Maldives’ Population Reaches Over 500,000, with 26% Foreigners

April 1, 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
BML Navigates Stormy Seas: Speculation of Complicity in Scam Calls

BML Navigates Stormy Seas: Speculation of Complicity in Scam Calls

March 12, 2023
Italian Cruise Ship Costa Deliziosa Arrives in Maldives

Italian Cruise Ship Costa Deliziosa Arrives in Maldives

February 5, 2023
MTCC Launches Online Top-Up Service for Dhathuru Card

MTCC Launches Online Top-Up Service for Dhathuru Card

April 19, 2021
Fire Breaks Out in Vakkaru Resort

Fire Breaks Out in Vakkaru Resort

December 14, 2021
Stewart Fired as CEO of MACL

Stewart Fired as CEO of MACL

1
Speaker Nasheed Undergoes Multiple Successful Surgeries

“I Will Not Compete Against President Solih” – Nasheed

1
Cat Strangling Video Receives Backlash

Cat Strangling Video Receives Backlash

1
UK Prime Minister Boris Johnson Reveals His Cautious Lockdown Easing Plan

UK Prime Minister Boris Johnson Reveals His Cautious Lockdown Easing Plan

0
China’s CNEEC Awarded Hankede Integrated Tourism Development Project

China’s CNEEC Awarded Hankede Integrated Tourism Development Project

April 1, 2023
Azim Resigns to Pledge Support for President Solih

Azim Resigns to Pledge Support for President Solih

April 1, 2023
Maldives’ Population Reaches Over 500,000, with 26% Foreigners

Maldives’ Population Reaches Over 500,000, with 26% Foreigners

April 1, 2023
Ferry Fire in the Philippines Results in 12 Dead and 7 Missing Passengers

Ferry Fire in the Philippines Results in 12 Dead and 7 Missing Passengers

March 30, 2023

Recent News

China’s CNEEC Awarded Hankede Integrated Tourism Development Project

China’s CNEEC Awarded Hankede Integrated Tourism Development Project

April 1, 2023
Azim Resigns to Pledge Support for President Solih

Azim Resigns to Pledge Support for President Solih

April 1, 2023
Maldives’ Population Reaches Over 500,000, with 26% Foreigners

Maldives’ Population Reaches Over 500,000, with 26% Foreigners

April 1, 2023
Ferry Fire in the Philippines Results in 12 Dead and 7 Missing Passengers

Ferry Fire in the Philippines Results in 12 Dead and 7 Missing Passengers

March 30, 2023
DhiDaily - English Edition

© 2022 Dhidaily

  • About
  • Advertise
  • Privacy & Policy
  • Contact

No Result
View All Result
  • Home
  • Local
  • Reports
  • World
  • Business
  • Sports
  • Entertainment
  • Tech
  • ދިވެހި

© 2022 Dhidaily