Rasmalé Land Reclamation Cost Reduced to Approximately 330 Million Dollars, Says Minister

Minister of Housing and Urban Development Dr. Abdulla Muttalib has announced that the cost of the Rasmalé land reclamation project has been significantly reduced. Speaking at the 10th program of the 'Aha' Forum, jointly organized by the Office of the President and Public Service Media (PSM), the Minister stated that the current estimated cost to complete the entire land reclamation is approximately 330 million dollars. This is a reduction from earlier estimates of between 500 and 700 million dollars, which were based on previous government projects and market rates at the time, including coastal protection measures. Dr. Muttalib noted that by collaborating with various companies and focusing on cost minimization, the government has achieved substantial savings. The target is to completely finish the land reclamation work by the end of this year. The Minister explained that the estimated 330 million dollars covers all 1,109 hectares of Rasmalé. He also addressed false claims circulating that 700 to 1,000 million dollars have already been spent on the project, stating that such statements are made for political purposes. Rasmalé, described as the most spacious area of land in the country, will see 500 hectares used to meet basic needs and address the housing problem permanently, while the other side is developed for the real estate industry and economic sustainability. The President has highlighted Rasmalé as a permanent solution to the housing problem in the Malé region and a project that will become the first 'Zero Carbon City' in the Indian Ocean, following an environmentally friendly 'Eco-City' model.