Housing Minister Dr. Mohamed Muizzu confirms Maldives government plans approaching foreign banks and countries for monetary aid in order to develop Vilimale' (second phase).
In addition to this, minister Dr. Muizzu claims Maldives Transport and Contracting Company (MTCC) owned hopper suction dredger 'Mahaa Jarraaf' will be utilized for the land reclamation necessary under Vilimale' development project.
Detailing about the current administration proposed plan of expanding land area of Vilimale' Dr. Muizzu stated MTCC's dredger will reduce considerable operational cost. Housing Minister explained using state owned companies and their resources helps to cut down project cost.
According to housing minister Maldives president Abdulla Yameen announced Vilimale' second phase after all preliminary studies related to the project concluded. Dr. Muizzu assured the project was already planned and will follow a detailed schedule.
Government aims to house a population of approximately 315,000 in 82,000 housing units. Though Maldives state revealed its plan on commencing the large scale reclamation project to house roughly three-fourths of the country's population, it had not disclosed an estimated cost for the project.
"Government aims to acquire necessary funding for the project through professional means. Much like how Maldives government practiced loan acquisition for previous projects, through foreign banks and concessional loan schemes," housing minister said.
The lagoons in close-range with Maldives capital will be reclaimed for the project. A total of 230 hectares of land from Gulhifalhu and another 800 hectares from Fushi-Dhiggaru from the lagoons of the said islands will be reclaimed for the project.
Apart from constructing 82,000 housing units the government aims to issue 1,000 square feet land plots for the Maldives public under the Vilimale' second phase project.