Rasmale’ Project Full of Corruption, Opposition Alleges

The Maldivian Democratic Party (MDP) campaign spokesperson and Kendhikulhudhoo MP Ahmed Easa has raised allegations of corruption regarding the Rasmale’ Project, a significant urban development endeavour in the Maldives. 

Easa made these claims during an MDP press conference held last evening.

According to Easa, the government’s agreement to grant 70 hectares of land to Sri Lanka’s Capital Marine and Civil Construction (CMC) in exchange for land reclamation at Fushidhiggaru lagoon is tainted by corruption. He asserted that the deal represents a staggering level of corruption within the project.

Easa highlighted that land transactions in the Greater Male’ region typically command a rate of MVR 6,500 per square foot, with beachfront plots in Hulhumale’ Phase II fetching around MVR 10,200 per square foot during the previous government’s tenure. By applying these rates, Easa estimated the value of the 70-hectare land concession to be between MVR 70 billion to MVR 100 billion.

The MP emphasized that these allegations are not baseless and can be substantiated by examining recent history in land transactions and sale prices. He urged the Anti-Corruption Commission (ACC) to investigate the matter thoroughly, regardless of public complaints.

Earlier disclosures from Urbanco confirmed that CMC is reclaiming Fushidhiggaru lagoon in exchange for the land concession, which includes 10 hectares leased from Hulhumale’ for 49 to 50 years and an additional 60 hectares from Fushidhiggaru.

Parliament Vice Speaker Ahmed Saleem submitted an extraordinary motion seeking clarification on the project, alleging that the current government has not disclosed essential details such as project cost and the commissioning of a dredger for reclamation.

The 2025 State Budget is expected to allocate MVR 600 million for the Rasmale’ Project, with an additional MVR 350 million slated for the following year. Despite being one of the flagship initiatives of the current government, the MDP opposes the project, arguing that funds could be better directed towards completing other development initiatives such as Gulhifalhu and Giraavarufalhu.