Former President Abdulla Yameen has accused the government of deceiving the public with promises of housing under the Rasmalé development project, only to sell off a portion of the project to a foreign company for "bags of cash."
Speaking at a People's National Front (PNF) rally last night, Yameen said that while the reclamation of Rasmalé was presented as the administration's flagship project, it now appears the initiative is failing to materialise as promised.
"We are hearing reports that a portion of Rasmalé is being sold to a Dubai-based company. Mind you, this was a project initiated by showing the Maldivian people the illusion of housing," Yameen said.
"It is simply for the 'bags of cash'—they just want the money. It is nothing else."
Yameen did not clarify whether his reference to "bags of cash" or "the money" pertained to official state revenue from the sale of Rasmalé or illicit financial gains for government officials from the transaction.
These allegations follow a report by Adhadhu yesterday, which revealed that the Economic Council has discussed selling a portion of Rasmalé to Emaar, the UAE's largest real estate firm, to be developed as a special tax zone under a township model.
The discussions reportedly involve reaching an agreement that includes the construction of social housing units in exchange for granting Emaar a section of Rasmalé previously earmarked as a tourism zone. A government delegation is also scheduled to travel to Dubai to further these negotiations.
The government has yet to issue an official comment on the matter.
The reclamation of Fushidhiggaru lagoon began on December 18, 2023. Although the government claimed that 1,153 hectares of land would be reclaimed within eight months, only 70 percent of the reclamation had been completed as of last month, nearly three years after the project began.
The government is aiming to complete the reclamation for Rasmalé—planned as a modern, eco-friendly "eco-city" and the administration's largest project—by the end of this year.
