Housing Development Corporation (HDC) has stated that the Ras Male' project will solve the country's housing problem for the next 50 years.
Speaking to PSM News, Managing Director Ibrahim Fazul Rasheed said that many Maldivians are without housing and there are few opportunities to commence housing projects in the country. He also said that HDC no longer has land plots to develop residential housing, but the development of Ras Male' will allow the company to build 65,000 housing units, solving the problem for the next 50 years.
Additionally, Fazul noted that it took 20 years to develop Hulhumale' to its current state but that the new administration aims to accelerate the pace of development and bring immediate solutions to the longstanding problems faced by citizens. He added that the Ras Male' project will address the housing needs of future generations.
Sharing details of the project, Fazul said the master plan for Ras Male' will be formulated with the assistance of international experts in order to build an eco-city. He said that HDC is currently discussing the master plan with the President's Office and the relevant state agencies, and it will be prepared within a short period of time.
The companies reclaiming land in Fushidhiggaru Falhu for the development of Ras Male' has been contracted 1,150 hectares in return for acquiring 70 hectares of land for a 50-year period. The agreement also includes a clause enabling HDC to revoke the land plots if any unforeseen circumstances arise within this timeframe.