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Maldives Green Lights First Sustainable Township: $790M Mega Project Signals New Growth Era
The Maldives government has granted the country's first permit for a "Sustainable Township" under the amended Special Economic Zones Act, authorising Crystal Holdings Private Limited to develop a project worth more than USD 790 million. The plan combines residential, hospitality, healthcare, education and agricultural infrastructure, with at least 60 percent of energy from renewables and operations slated to begin in 2028.
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more than USD 790 millionValue of the approved Sustainable Township projectThe StandardThis historic approval empowers a landmark project worth more than USD 790 million, authorised for development by Crystal Holdings Private Limited following thorough vetting by the relevant investment authorities.
Word for word from the report in The Standard. Open the report
At least 60 percentShare of township energy needs to be met through renewable sourcesThe StandardAt least 60 percent of the township’s energy needs will be met through renewable sources, underlining the Maldives’ commitment to environmental responsibility and its broader carbon-reduction objectives.
Word for word from the report in The Standard. Open the report