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In a bid to tackle the housing crisis in the Maldivian capital, the administration has unveiled plans to construct 30,000 social housing units in Rasmale’, a groundbreaking initiative that enjoys the support of China.
Housing Minister Dr. Ali Haidar revealed details of the ambitious project in an interview with state broadcaster PSM on Thursday. According to Dr. Haidar, the construction of the 30,000 housing units will be executed simultaneously, emphasizing the administration’s commitment to addressing the pressing housing needs of the capital city.
The announcement follows the signing of 20 agreements between Maldives and China on Wednesday, including a Memorandum of Understanding (MoU) specifically focused on the Rasmale’ project. The comprehensive initiative encompasses not only the construction of housing units but also the establishment of essential facilities such as water and sanitation infrastructure, as well as the construction of roads to ensure a holistic development approach.
The Rasmale’ project, officially launched on December 18, is slated to reclaim 1,093 hectares of land from the Fushi Dhiggaru Falhu, showcasing the scale and significance of the endeavor. The ambitious project is contracted to Sri Lanka’s Capital Marine and Civil Construction Company (CMC), with reclamation works estimated to cost a minimum of USD 500 million.
Notably, the financial burden associated with the project will be shouldered by CMC. In exchange for undertaking the reclamation project, CMC will receive a long-term lease on 70 hectares of land, distributed between Hulhumale’ (10 hectares for 49 years) and Rasmale’ (60 hectares for 50 years).
The collaboration with China and the strategic partnerships established through the signed agreements signify a pivotal step toward addressing the housing crisis and fostering comprehensive urban development in the Maldives. As the Rasmale’ project gains momentum, it stands as a testament to the commitment of the Maldivian administration to create sustainable solutions for the growing housing demands in the capital.
