The 'Floating City' to be built in a Male' atoll lagoon by Dutch Docklands is delayed because of major changes to the masterplan, the project's developer has said.
A press statement by the company said preparations are now underway to begin work. Construction will begin next August and the project will be completed by early 2028, the statement added.
About 5000 housing units were to be built under the first agreement but plans needed to be changed due to the positive response, the company said. However, the change in the number of units under the new plan was not stated. Information was not revealed about the interested buyers either.
"With the response, Dutch Docklands and the Maldives government have completed the project's masterplan for the purpose of offering units at cheaper prices as well...As such, a housing solution would be provided under this project more affordably than before with the inclusion of apartments and studios."
According to the statement, starting prices have been lowered at the government's request to MVR 1.5 million or USD 100,000.
Various dates were previously offered for launching the project signed between Dutch Docklands and the Maldives government in 2010. Three dates were also announced for showing a mockup of the project's housing units to the media. But a mockup unit has not been shown yet with various reasons stated such as bad weather.
The main reason stated for the project's delay this time was changing the masterplan at the request of the government.
"In addition to changing the masterplan, changes also needed to be made to the project's feasibility design and the safety of the 200-hectare lagoon project site. The [environment impact assessment] was resubmitted and the government has now provided all the approvals required," the statement said.
The project
A floating city in the Maldives was first talked about during former president Mohamed Nasheed's administration. Five lagoons from Male' atoll were leased to Dutch Docklands under the 'Five Lagoons' project.
However, Nasheed's government ended before work began on the project and the Progressive Party of Maldives government took back and sold two of the five lagoons. The current government has leased a lagoon to Dutch Docklands as compensation for the two lagoons.
The company that was awarded the project now says a floating city will be built in the next five years and that there are no legal obstacles. But the question remains whether work that could not be done in the past 12 years could be completed.
The current government signed a new project called 'Floating City Maldives' with Dutch Docklands in March 2021. Bison Maldives was contracted to build 5000 housing units to be developed first under the project on the 200-hectare lagoon near Aarah.
Before any concrete work could begin on the project, amid a rift in the ruling Maldivian Democratic Party, economic development minister Fayyaz Ismail characterized the floating city project as a big scam and alleged numerous acts of corruption.
