MFMC signed an agreement with Atoll Works Private Limited for dredging, reclamation and shore protection across 16 islands in Gaafaru lagoon, Kaafu Atoll, with 14 islands set aside for private real estate and two for luxury resorts. The US$36.5 million project will be financed by the contractor, with repayment beginning only after reclamation is complete and lease revenue is generated.
One outlet so far Only Maldives Republic has reported this among the sources we monitor. A gap in what we monitor, not proof that others did not report it.
The Maldives Fund Management Corporation (MFMC) signed a formal agreement with Atoll Works Private Limited on Wednesday for a comprehensive dredging, reclamation, and shore protection project involving 16 islands in the Gaafaru lagoon of Kaafu Atoll.
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According to MFMC, 14 islands will be designated for private real estate development, while the remaining two will be used for luxury tourist resorts.
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signed a formal agreement with Atoll Works Private Limited on Wednesday for a comprehensive dredging, reclamation, and shore protection project involving 16 islands in the Gaafaru lagoon of Kaafu Atoll.
Word for word from the report in Maldives Republic. Open the report
The project also involves reclaiming an additional 40 hectares of land on Gaafaru island, expanding the total reclaimed area to 106.91 hectares.
Word for word from the report in Maldives Republic. Open the report
reclaiming an additional 40 hectares of land on Gaafaru island, expanding the total reclaimed area to 106.91 hectares.
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Valued at US$36.5 million, it includes US$29.2 million specifically allocated for dredging 3,747,792 cubic metres of sand at a competitive rate of US$7.80 per cubic metre.
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it includes US$29.2 million specifically allocated for dredging 3,747,792 cubic metres of sand at a competitive rate of US$7.80 per cubic metre.
Word for word from the report in Maldives Republic. Open the report
US$29.2 million specifically allocated for dredging 3,747,792 cubic metres of sand at a competitive rate of US$7.80 per cubic metre.
Word for word from the report in Maldives Republic. Open the report
dredging 3,747,792 cubic metres of sand at a competitive rate of US$7.80 per cubic metre.
Word for word from the report in Maldives Republic. Open the report