Minister of Construction and Infrastructure, Dr. Abdulla Muththalib, disclosed that the cost of reclaiming Fushi Dhiggaru Falhu, a lagoon south of Malé, for the “RasMalé” project, is set to surpass USD 700 million (MVR 10.7 billion). Transforming the lagoon into a sprawling development is entrusted to the Sri Lankan company, Civil Marine Construction Company (CMCC).
The state is absolved of any financial burden, as CMCC, the contractor, will bear the entire cost of the project. In return for their efforts, the company will be allocated 70 hectares of valuable land in the Maldives.
When questioned about the project’s expenses during a press conference by the Ministry of Construction, Minister Dr. Muththalib emphasised that even with no direct expenditure from the state, reclaiming such a vast area involves substantial costs. He estimated the project’s cost to be between USD 500-700 million, based on shallow waters around the area, approximately one metre deep.
The minister clarified that the actual cost would be considerably higher, factoring in the depth of Fushi Dhiggaru Falhu lagoon, the substantial amount of sand required for reclamation, and the logistics of transporting the sand over a distance.
Importantly, Minister Dr. Muththalib underscored the transparent nature of the project, assuring that no details were being concealed. The government is slated to acquire 1,093 hectares of land from Fushi Dhiggaru Falhu, with CMCC obtaining 60 hectares from the lagoon and an additional 10 hectares from Hulhumalé.
Fushi Dhiggaru Falhu, a pivotal part of President Dr. Mohamed Muizzu’s ‘total solution’ policy for housing, has been fast-tracked for reclamation within the first 100 days of his administration.
