Financial expert Ismail Zariyand said on a RaajjeTV talk show that President Dr. Mohamed Muizzu's rhetoric is consistently contradictory, citing his dropped claim that Ras Male' would be linked to Malé by an underwater glass tunnel. Zariyand also questioned why the agreement with Eagle Hills has not been disclosed, amid reported spending of up to $1 billion on the project.
One outlet so far Only Raajje (English) has reported this among the sources we monitor. A gap in what we monitor, not proof that others did not report it.
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Current projections suggest that this location will become the primary source of the Maldives' tourism revenue, generating between $12 billion and $20 billion.
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nearly $1 billion of our citizens' resources and public funds have already been injected into this project.
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At a minimum, between $700 million and $1 billion in US dollars has been poured into the site.
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state-owned enterprises have secured loans for the reclamation phase that will require $22 million in annual interest payments over the next three years.
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