State Trading Organisation (STO) has decided to build a shopping mall in Hulhumale’ Phase II.
Managing Director Hussain Amr said the project is underway and STO is currently in talks with the Housing Development Corporation (HDC) to acquire land for the shopping mall. He made the statement on Twitter in a reply to a comment on residents in Hulhumale’ Phase II not having convenient means to buy cheap products.
STO is the largest multi-business company in the Maldives. The state-owned company has significant and focused interests in petroleum, cooking gas, construction materials, medical supplies and pharmaceuticals, home appliances, electronics, supermarket products, and insurance. The company is geographically diverse with operations and developments throughout the Maldives and operations in Singapore.