Rasmalé Waterfront and Marina
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NewsRasmale' deal: Ministers provide conflicting figures on revenue
Housing and Finance Ministers have provided conflicting revenue projections for the Rasmalé project, with estimates ranging from $3 billion to $11 billion. Discrepancies also exist regarding the developer's total investment. The government granted land for 99 years without fees, relying instead on property sale and transfer taxes for income.
ReportRasmale' deal: Maldives gets "peanuts" in return for 500 hectares
The Maldives government has sparked controversy by granting 500 hectares of the newly reclaimed Rasmale' project to a Dubai-based firm for 99 years. Critics warn the secretive deal lacks transparency and fair compensation, potentially surrendering the nation's most valuable real estate for minimal public gain.
