Tag: hulhumale

MTCC introduces new Hulhumalé – Malé ferry schedule for Ramadan

Maldives Transport and Contracting Company (MTCC) has introduced two new ferries and increased ferry services between Malé and suburb Hulhumalé during peak hours for the month of Ramdan.

According to the new ferry schedule, ferries will run every five minutes between 8:15am – 9:10am and 2:00 pm and 2:20 pm on workdays, and between 10am – 11:15am and 2pm – 2:20pm on weekends.

At other times, ferries will depart every 15 minutes.

Residents of Hulhumalé have complained about delay and overcrowding on ferries.

Likes(0)Dislikes(0)

Dredging International NV awarded US$50 million Hulhumalé reclamation project

A US$50 million contract for dredging and reclamation work in Hulhumalé has been awarded to Belgian company Dredging International NV, the Housing Development Corporation (HDC) has announced.

HDC revealed in a press release today that the letter of award to carry out the project was issued to the company yesterday (June 18) following discussions with the government.

“The project work will commence within a period of two months and the reclamation works is estimated to be completed within a period of seven months,” read the press release.

“It is estimated that the Hulhumalé Phase II reclamation and coastal protection work will be completed by the end of December 2015.”

Phase two of the Hulhumalé development project involves reclamation of 240 hectares of land “with a target population of 100,000 people,” HDC explained.

According to the corporation, development plans for the fully reclaimed artificial island includes residential developments, a business district and “commercial spine,” a light industrial park, a yacht maria and cruise terminal, a knowledge and technology park, a heritage island a tourism district.

“Both Hulhumalé Phase I & Phase II developments are planned in line with the government’s overall vision to bring sustainable youth related developments,” the press release noted.

HDC Managing Director Suhail Ahmed told local media this week that the government was seeking a loan from the Bank of Ceylon (BOC) to finance the second phase of the Hulhumalé development project.

Suhail said HDC was “going through the terms of the loan deal” and “assessing all conditions,” adding that the project would likely be state-financed.

“Youth village”

Phase two of the Hulhumalé development project was among five mega-projects pitched to international companies at an investor forum held last April in Singapore.

While the dredging project was “conditionally awarded” to Dredging International NV in July 2013, the company withdrew due to financial constraints.

According to the company’s website, Dredging International NV was established in 1974 and specialises in “the construction and development of harbours, artificial islands, estuarial dams, canals and inland waterways, dyke construction and reinforcement, beach replenishment and coastal protection, supply of dredged aggregates and salvage activities.”

Developing a ‘youth village’ in Hulhumalé with a population of 50,000 was a key campaign pledge of President Abdulla Yameen.

Speaking at an inauguration ceremony for a land reclamation project in Thulusdhoo last month, President Yameen said the government’s objective was to relocate people from small islands in the atolls to Hulhumalé.

Economic opportunities in small islands were limited due to their size and isolation, he added.

The government hoped youth from smaller islands would migrate to Hulhumalé as well as other islands selected for land reclamation, Yameen said.

In April, Yameen said the HDC’s development plans were being revised to achieve the new administration’s goals.

The vision for the youth city includes a “technopolis park” as well as entertainment and sports facilities, he said, in addition to facilities for the tourism and fisheries industries.

“The youth village will not involve only housing [projects]. It will also include other projects related to the youth village such as the creation of light industries to provide job opportunities, as well as arrangements for food and beverages required by modern youth and restaurant facilities for [fast food],” he said.

Yameen also revealed last month that the government planned to tender the the Malé–Hulhulé bridge project in early June.

“God willing, before the end of the first two weeks of June, we will tender the bridge project. With that, additional studies needed for the project – that is the direction and extent of ocean currents – will be undertaken by the party awarded the tender,” he explained.

In February, Economic Minister Mohamed Saeed pledged that the Malé–Hulhulé bridge project – which he described as “iconic for the whole region” – would be completed in two years.

Likes(0)Dislikes(0)

Government seeking loan for Hulhumalé phase two development

The government is seeking a loan from the Bank of Ceylon for the second phase of the Hulhumalé development project, reports local media.

“We are going through the terms of the loan deal, assessing all conditions and in discussion with them. The State is of the mind to continue this project with own finances,” Managing Director of Housing Development Corporation Suhail Ahmed told Haveeru.

The development had previously been one of five mega-projects pitched to international investors at a landmark forum in Singapore in April. The cost of the project has been estimated at US$60 million.

After having reclaimed 188 hectares of land during the first phase of development between 1997 and 2002, the next stage is set to add another 230 hectares to the northern side of the Maldives’ first fully reclaimed island.

Potential investors in Singapore were made aware of President Abdulla Yameen’s plans to develop the island into a ‘youth city’ with a population of 50,000, which will include a “technopolis park” to facilitate light industries.

The construction of the long-awaited bridge between Malé and Hulhumalé is also planned to further open up economic opportunities in the reclaimed island city.

Likes(0)Dislikes(0)

Government to tender Malé-Hulhulé bridge project next month

The government will announce invitation to tender for the Malé–Hulhulé bridge project in early June, President Abdulla Yameen revealed last night.

Speaking in the Feydhoo ward of Addu City, President Yameen said the company chosen in the bidding process would commence a technical survey upon being awarded the project.

“God willing, before the end of the first two weeks of June, we will tender the bridge project. With that, additional studies needed for the project – that is the direction and extent of ocean currents – will be undertaken by the party awarded the tender,” he explained.

He added that the construction of a bridge connecting the capital and the airport as well as the reclaimed artificial island of Hulhumalé was “a dream” of the current administration.

Yameen also appealed for support and cooperation from the public to successfully implement the government’s infrastructure development projects.

He reiterated calls for the public to ensure cooperation of the People’s Majlis for the executive through their elected representatives.

Yameen said he did not doubt that the development of a “Youth City” in Hulhumalé would solve the problem of high unemployment among youth.

In February, Economic Minister Mohamed Saeed pledged that the Malé – Hulhulé bridge project – which he described as “iconic for the whole region” – would be completed in two years.

Of 19 parties that had expressed interest in the project, Saeed noted that seven were international companies.

First announced as a campaign pledge of former President Maumoon Abdul Gayoom in 2008, a bridge connecting the congested island of Malé with its relatively spacious suburb was also an aim of Gayoom’s successor Mohamed Nasheed.

In December 2011, the President’s Office revealed that preliminary surveys conducted by international experts had established the viability of the project with an estimated cost of between US$70 million and US$100 million.

Upon assuming office in November 2013, the present administration called for expressions of interest for the project under a public-private partnership contract that would require the selected company to engage in the design, build, financing, maintenance and operation of the bridge.

“Primary objective of the government is to bring a relief to the socio-economic issues arising from the urban congestion that is present in Malé,” the Ministry of Economic Development explained at the time.

Former Minister of Economic Development Mahmoud Razee – a member of Nasheed’s cabinet – meanwhile told Minivan News in February that a bridge would improve local commerce and reduce traffic congestion in Malé.

“There will be a mediation of the traffic because what happens in Malé – in the afternoons and evenings – a lot of the traffic is leisure traffic as motorcycles are out on the road, not to go to any particular place but for the sake of having a ride. If these are connected, the area they are able to mill around is increased by several kilometers,” he explained.

Speaking at a groundbreaking ceremony in Hulhumalé last month, President Yameen said that the vision of his administration was to develop the artificial island as a “youth village” with a population of 50,000 people.

Hulhumalé will become “a paradise on earth” for migrants from across the country, he said, whilst economic opportunities would be created by the construction of a bridge connecting the island to the nearby capital city.

Likes(0)Dislikes(0)

Government exploring options for Hulhumalé reclamation project

The government is exploring options to commence the second phase of the Hulhumalé development project in the near future with Netherland’s Royal Boskalis Westminster a possible partner for the land reclamation component, Housing Development Corporation (HDC) Managing Director Suhail Ahmed has said.

Speaking to reporters yesterday (May 12) following activities to celebrate the 10th anniversary of Hulhumalé being declared an inhabited island, Suhail noted that a Boskalis dredger was currently in the Maldives.

“So that is also an option the government is considering that I know of. We are considering all options. [But] at the moment it is difficult to give a date,” Suhail said.

Boskalis has recently been accused of committing “serious environmental crimes” in the Maldives by a local environmental NGO after the Environment Protection Agency (EPA) found that regulations were violated in the Baa Eydhafushi reclamation work.

Boskalis was awarded a US$37 million four-island reclamation project by the government this year. The company has reclaimed 20 hectares in Dhaalu Atoll Meedhoo in March and 33 hectares in Baa Atoll Eydhafushi last week.

Work is ongoing on Kaafu Atoll Thulusdhoo while a date for reclamation in Dhaalu Atoll Kudahuvadhoo has not yet been announced.

Meanwhile, in January, HDC accepted bids from six companies – including Boskalis – for the second phase of the Hulhumalé development project, which involves reclaiming 230 hectares of land for development of further residential and commercial properties.

While the population of the artificial island is presently 30,000, Hulhumalé’s capacity is expected to increase to 100,000 with the completion of the second phase.

In July last year, HDC “conditionally awarded” the US$60 million reclamation project to Belgium-based Dredging International. The company however withdrew due to financial constraints.

Housing Minister Dr Mohamed Muiz told local media this week that the government hoped the reclamation project could commence in July with a decision by the Economic Council expected in the next two weeks.

“Youth village”

Developing a “youth village” in Hulhumalé with a population of 50,000 was a key campaign pledge of President Abdulla Yameen.

Speaking at an inauguration ceremony for the land reclamation project in Thulusdhoo earlier this week, President Yameen said the government’s objective was to relocate people from small islands in the atolls to Hulhumalé.

Economic opportunities in small islands were limited due to their size and isolation, he added.

The government hoped youth from smaller islands would migrate to Hulhumalé as well as other islands selected for land reclamation, Yameen said.

In April, Yameen said the HDC’s development plans were being revised to achieve the new administration’s goals.

The vision for the youth city includes a “technopolis park” as well as entertainment and sports facilities, he said, in addition to facilities for the tourism and fisheries industries.

“The youth village will not involve only housing [projects]. It will also include other projects related to the youth village such as the creation of light industries to provide job opportunities, as well as arrangements for food and beverages required by modern youth and restaurant facilities for [fast food],” he said.

HDC meanwhile organised an informal function yesterday to celebrate the 10th anniversary of Hulhumalé’s habitation with a parade and children’s activities.

Hulhumalé schools and service providers participated in the activities.

HDC MD Suhail told the press that a formal event is being planned for a late date, which would recognise the contribution of various parties to the island’s development.

Likes(0)Dislikes(0)

Suspect in custody over Hulhumale’ stabbing

Police have taken a 20-year-old male suspect into custody yesterday in relation to a stabbing in Hulhumale’ on Monday night (April 26), local media reports.

Ibrahim Ausham, 25, was treated at the Hulhumale’ hospital after he was reportedly stabbed four times near the ‘China flats’ in Hulhumale’.

Police declined to reveal further details as the case was under investigation.

Likes(0)Dislikes(0)

“Yonder lies the greener pastures”: President Yameen inaugurates investor forum in Singapore

President Abdulla Yameen inaugurated the Maldives Investment Forum at Singapore’s Marina Bay Sands today with assurances to potential investors of the government’s commitment to fostering a business-friendly environment.

In his keynote address at the event, President Yameen said his administration was “cognisant of the needs of our investors and the requirements to strengthen and redefine the legal and regulatory environment governing foreign investments.”

“To address investment climate and to facilitate mega investments with attractive incentive packages, a Special Economic Zone Bill will be tabled in the parliament soon. Additionally, the Foreign Investment Act and Companies Act are being revised to cater the ever increasing needs of the modern foreign investors,” he said.

“Investment registration and facilitation has also been strengthened recently, with structuring of Invest Maldives as a one-stop shop for investment promotion, registration and facilitation.”

Over 160 companies and close to 200 representatives from 16 countries were present at the first overseas investor forum organised by the Maldives, Yameen noted, expressing gratitude for the “overwhelming support received for this forum.”

The new government has “embarked on an ambitious economic agenda to transform the economy” with the goal of becoming “a resilient, diversified high income economy in the next decade,” the president said.

He added that the government was committed to exploring “openings for increasing foreign investment flows to non-traditional sectors to lift Maldives beyond the image of a picturesque postcard.”

Yameen suggested that the success of the tourism industry over the past 40 years was due to “ingenuity, private enterprise and a liberal policy environment for foreign investments”.

Mega-projects

The projects for which the government was seeking investors were “designed to position Maldives to take advantage of its strategic location as a hub and gateway for commerce, innovation and creativity, linking rest of the globe with South Asia,” he explained.

Briefing participants on the five mega-projects envisioned by the government, Yameen said that the Ihavandhippolhu Integrated Development Project or iHavan “provides immense potential to capture substantive share of the trade and commercial opportunities in the South Indian Ocean and capture the trade flows crossing the seven degree channel.”

The government hoped to “engage private investors in the delivery of key pieces of infrastructure,” he said.

The other mega-projects or infrastructure development plans were concentrated in the Greater Male’ region, Yameen noted, which included the Hulhumale’ Youth City with further land reclamation and a maritime seaport project.

“With these investments, we foresee the region surrounding the Male’ City emerging as a vibrant commercial hub in the region,” he said.

The other mega-projects include the expansion of the Ibrahim Nasir International Airport (INIA), relocation and expansion of the central port to Thilafushi, and exploration for oil and gas.

Concluding his remarks, Yameen thanked foreign investors and senior businessmen from the Maldives for their “support and presence” at the forum, which gave the government “comfort and confidence” in its economic and trade policies.

Yameen said he hoped the forum would serve as “an avenue for enhancing understanding of the investment environment and opportunities in Maldives.”

He went on to congratulate Economic Minister Mohamed Saeed and his team for organising the forum and expressed gratitude to the key sponsors.

“Yonder lies the greener pastures,” he concluded by saying.

Yameen’s remarks were followed by presentations on the five mega-projects, a question and answer session with government ministers and speeches by Stephen Ho, President of Starwood Asia Pacific, Akhil Gupta, Chairman of Blackstone India, and William Ellwood Heinecke, CEO of Minor International.

President Yameen also launched the new Invest Maldives website at the forum this morning.

In his speech at the inauguration ceremony, Economic Development Minister Saeed revealed that the government was planning to hold a second investor forum in Shanghai, “the commercial capital of China.”

Moreover, at a press conference held at the forum, Tourism Minister Ahmed Adeeb reportedly revealed that the government has decided to lease islands for resort development for 99 years instead of the 50-year lease period at present.

Legislation will be submitted to parliament to authorise the extension, he said, which was intended to gain investor confidence.

Meanwhile, prior to departing for Singapore yesterday, President Yameen told the press that the government was certain it would have to compensate Indian infrastructure giant GMR for the premature termination of the concession agreement to develop and manage INIA.

Earlier this month, Yameen had said that the out-of-court settlement sought by GMR was too high, and that he would now await the outcome of arbitration proceedings in Singapore, which could take up to another two months.

The US$511 million contract awarded by the administration of former President Mohamed Nasheed was the single largest foreign direct investment in the Maldives’ history.

Likes(0)Dislikes(0)

“Ideal” time to invest, says MNCCI as Maldives Investment Forum approaches

With additional reporting by Daniel Bosley

“The last 3 years there has been a lot of turmoil, but now is the ideal time to invest and talk about business,” suggests Ishmael Asif, Vice President  of the Maldives National Chamber of Commerce and Industries (MNCCI).

In light of the upcoming Maldives Investment Forum (MIF) in Singapore, Asif told Minivan News that the Maldives can offer a secure political backdrop for any potential foreign investments.

“From the chamber, we would like to give a message to foreign investors that political tension is over and there is room for investments. Maldives always welcomes foreign investments.”

The forum – set to take place on Friday (April 25) at the Marina Bay Sands hotel in Singapore – will aim to increase the interest of Asia-region investors, and will be the first forum of such a scale to be hosted by the Maldives in another country.

Investors will have the opportunity to submit proposals for five mega projects, including the following – whose details have been provided by the Ministry of Economic Development:

Ihavandhippolhu Integrated Development Project (iHavan) – This project aims to capitalise on the US$18 trillion worth of goods that pass through the channel to the north of the Maldives’ northernmost atoll each year.

The project is set to include a transshipment port facility, airport development, a cruise hub, yacht marina, bunkering services, a dock yard, real estate, and conventional tourism developments.

Citing growing east-west trade between China and India, the project also proposes to take advantage of more than 30 large cities which lie within a 4000km radius of the atoll. Moreover, the South Asian Free Trade Arrangement (SAFTA) means that export processing zones established in iHavan will enjoy duty free access to 1.7 billion people in the South Asian region.

Expansion of Ibrahim Nasir International Airport (INIA) – Following the 2012 termination of the GMR concession agreement, the government is currently devising a new master plan for developing the country’s main international airport.

Around forty percent of the tourism industry’s bed capacity is currently situated in the same atoll as the airport, with 80 percent of tourists taking less than one hour to reach their destination from INIA. Furthermore, the government plans to increase tourist arrivals to 5 million per year during its current term.

“As such, the need to expand the airport’s capacity to cater to this additional demand and to provide value added commercial and high end retail services of highest international standards, is a key priority of the Government,” explains the forum’s website.

Hulhumale’ Phase II Development – The next stage of the development in the Maldives “first fully reclaimed, pre-planned city” will involve further reclamation to the north of the island.

Potential investors are being made aware of President Abdulla Yameen’s plans to develop the island into a ‘youth city’ with a population of 50,000, which will include a “technopolis park” to facilitate light industries.

The construction of the long-awaited bridge between Malé and Hulhumalé is planned to further open up economic opportunities in the reclaimed island city.

Relocation and expansion of the existing central port – Noting that the country’s major port in Malé has reached its capacity, the MIF will hope to attract investors to assist in the relocation of the main port to the nearby industrial island of Thilafushi.

The project will include reclamation work on the island, the introduction of state-of-the-art facilities – including warehousing capacity, and marine harbour and support functions to cater to all types of vessel.

Exploration for oil and gas – With oil imports accounting for 31 percent of the Maldives’ imports in 2012, the country is seeking to reduce reliance on foreign fuel with an oil and gas exploration projects, explains the event information.

Previous attempts to locate economically viable reserves were unsuccessful, though the government wishes to find investors who can undertake more extensive surveys in the country’s territory.

The proposed projects are due to be supported by the “relatively freer regulatory environment” provided by the special economic zones promised by the Yameen administration.

Creating a future for the Economy

Asif noted that the decision to hold the conference in Singapore sends a clear message to the international community that the Maldives is keen to discuss ideas with their potential partners, and to build bridges with countries they would like to work with in the future.

“It will create a better platform for Maldives when we do work in places like Singapore – it’s an ideal place to unveil something like this so we can go forward with that area.”

The operator’s of Singapore’s Changi Airport met with President Yameen last week, sparking rumours that they would provide consulting services on the development of INIA.

“Such a forum like this is organised to give a positive vibe, that we are open for foreign investment and willing to discuss [ideas],” he added.

A host of countries have already expressed their interest and are registered for the Maldives Investment Forum, President’s Office Spokesperson Ibrahim Muaz confirmed today.

“There is a lot of co-operation from business groups from other countries, like China, the US, Japan and from this area. There are a lot of participants registered on the forum,” said Muaz,

President Yameen will be leaving tomorrow afternoon to attend the forum, where he will give the keynote speech to the more than 300 investors from 15 countries who have reportedly registered to participate.

Following a presentation detailing the five projects, Tourism Minister and head of the cabinet’s Economic Council Ahmed Adeeb will give a speech, before a question and answer session regarding the proposed projects.

President Yameen’s vision for foreign investment was spelled out recently, during the inauguration of a housing project in Hulhumalé – part of the ‘youth city’ project.

“What we would like to confirm for the foreign investors who come to the Maldives is that foreign investors should feel that Maldives is your second home here,” said Yameen.

“We are going to open up the Maldives in a huge way to foreign investors. Our thirst cannot be quenched. The opportunity to foreign investors is going to be enormous.”

Likes(0)Dislikes(0)

Two men arrested after rape of 15-year-old girl

Police have arrested two men after a 15-year-old girl was raped on the island of Hulhumalé.

Local media outlet Haveeru reported that the girl was raped by a gang of four men, two of whom are still being sought after by police.

Police have confirmed that the two men arrested – aged 21 and 29 – are linked to this case. Hulhumalé police station and the Family and Child Protection Department is investigating the case.

Likes(0)Dislikes(0)