Minister of Economic Development, Mohamed Saeed has remarked the dream of Hulhumale’ being developed as a “youth city” was becoming a reality.
During the function held at Alimas Carnival on Monday night to celebrate three-year anniversary of President Abdulla Yameen Abdul Gayoom’s administration, Minister Saeed compared the level of development in Hulhumale’ during the first three years of President Yameen’s administration to the state it was in, 12 years ago.
Saeed said that 12 years back, capital investment in Hulhumale’ had stood at just MVR 1.6 billion, while Housing Development Corporation alone invested MVR 14 billion in capital development over the past three years.
He said that total MVR 26 billion has been invested on capital development of Hulhumale’ over the past three years.
Minister Saeed said only 27,000 square-foot plots of land were issued for commercial purposes from Hulhumale’ during the years prior to President Yameen’s administration.
He said that after President Yameen came to power, his administration started leasing 46,000 square-foot areas for commercial purposes – where businesses have already been set up.
Saeed said that 51 plots of land had been leased for industrial work by President Yameen’s administration, compared to the 46 plots of land leased for industrial work during all administrations prior to that.
“Commercial, industrial and residential. If cities are built based on that formula, the Youth City dream is becoming a reality,” said Saeed.
Local and international companies are building apartment complexes in Hulhumale’ alongside the social housing projects being run by the government.
Saeed said that the number of containers imported into Maldives had increased from 27,000 containers in 2011 to 41,000 containers in 2015.
“If you don’t call this progress, what do you call progress?”