President Abdulla Yameen Abdul Gayoom has launched Rasfannu Mixed Use Development Project at a ceremony held at the project site. Following the project launching, President Abdulla Yameen took a tour of the show flat, displaying a residential unit of the Coral Boulevard Tower. President Yameen was accompanied by cabinet ministers, parliamentarians and senior officials of the government.
The project carried out as part of the Male' redevelopment plan, initiated by the government, will see the construction of four towers of 25 to 28 storeys, which will consist of 533 residential apartments and 228 hotel rooms, as well as retail stores. The towers are constructed in an area of 70,000 square metres and are expected to be 100 metres tall.
Moreover, the 533 residential apartments will vary from one room to five rooms, in addition to sky villa apartments. While the 228 hotel rooms are designated for tourists, the two lower floors of the towers will be jointly developed as the largest shopping mall in Maldives. Meanwhile, two floors will be constructed to be used for parking. In addition, swimming pools, a gym and other recreational activities for kids and youth will be established, which will also include retail service outlet shopping, entertainment and cultural spaces, sky rooftop cinema and roof garden.
The project is focused on easing the living standards in Male' and to provide living of all standards under one roof, Minister of Housing and Infrastructure Dr. Mohamed Muizzu stated speaking at the function to launch the Rasfannu Mixed Use Development Project. With the project, Rasfannu will become the most expensive area in Male', expressed the housing minister.
The Rasfannu Mixed Use Development Project or the Coral Boulevard Project is being developed by Singapore's Chang Hua Construction. The project which costs over USD 220 million must be completed within 40 months. The government expects to generate various jobs with the project and aims to provide affordable housing for citizens.
During the ceremony held to inaugurate the project, a model of the towers was presented to the President.