A decade-long saga of shifted equity, corruption probes, and international arbitration culminates in the high-stakes transformation of Fushidhiggaru Lagoon into Ras Malé. 2011 November 29: Based on advice from the National Planning Council, the Cabinet decided to enter into a joint venture agreement for K. Fushidhiggaru Lagoon, securing a 50% state share with terms stipulating that all land rent would be paid directly to the State. 2013 January 18: A Joint Venture Agreement was signed between the Maldivian Government and Prime Capital Maldives Limited to establish a joint venture company to develop K. Fushidhiggaru Lagoon as a tourism zone. Under … Continue reading Fushidhiggaru Lagoon (now Ras Malé): A Timeline and Highlights (2011–2026)