An agreement has yet to be reached with contractors over a luxury housing project in Malé’s western waterfront, the housing ministry said Thursday.
The Coral Boulevard or ‘Rasfannu Mixed Use Development Project’ – under which 533 residential bedrooms, 228 hotel rooms, and retail stores were to be built in four towers – was launched in July last year by former president Abdulla Yameen.
The project was stalled after the change of government in November. President Ibrahim Mohamed Solih’s administration planned to relocate the towers to to the capital’s suburb in Hulhumalé.
The Singapore-based contractor Chang Hua was previously enlisted to build the 25-storey Dharumavantha hospital, a US$140 million project marred by accusations of corruption and criticism over the high price tag after it was awarded without an open bidding process in March 2015.
Negotiations are ongoing with the company on relocating the Coral Boulevard project to Hulhumalé, deputy housing minister Ali Shamin told the media. Chang Hua has agreed on principle and a decision will be announced soon, he said.
Last week, the housing ministry began work on reopening the stretch of the outer road that was closed off for the project last year.
The ministry and city council expects the ring road’s reopening to ease traffic congestion.
The area near the Rasfannu artificial beach at the western corner of Malé included a public outdoor gym and futsal pitch.