President Abdulla Yameen has announced that the second phase of the Hulhumalé land reclamation project will begin this month and that all preparatory measures for the reclamation have been taken.
While speaking at a foundation laying ceremony for 704 new flats built with the Chinese loans, President Yameen said that the dredging boat will arrive late December and start work on the reclamation.
President Yameen also said that the reclaimed land will not only be used for social housing projects, but also for opening investment opportunities for potential investors.
“Majority of the reclaimed land will go towards social housing. However, land will be allocated for luxury apartments and apartments for foreigners who wish to settle in the Maldives,” said President Yameen.
The second phase is to feature a theme park, yacht marina, specialized tourism district and various infrastructure aimed at the youth population.