The foundation has been laid for a 13-storey parking building in Hulhumalé Phase One. The facility will accommodate over 1,100 vehicles, including more than 600 cars and over 500 motorcycles.
The building will include vehicle lifts and electric charging points, along with sports facilities and retail outlets.
Transport Minister Mohamed Ameen said the project is part of a wider plan to address parking capacity issues. A total of seven parking buildings are planned across Hulhumalé, with three in Phase One and four in Phase Two. Construction is already underway at different stages.
In total, the developments will provide 2,600 car spaces and over 1,000 motorcycle spaces. Both public and private parking will be included, along with designated spaces for people with disabilities.
The minister said the system is designed to ease congestion and improve movement for both drivers and pedestrians.