No cause for concern over ‘US$10bn Faafu atoll project,’ insists Yameen
The Faafu project will be similar to “mixed development projects in French Riviera” with “international sea sports, mixed development, residential high-class development, many tourist resorts, many airports,” Yameen said.
01 Mar 2017, 9:00 AM
President Abdulla Yameen has dismissed concerns over rumoured plans to sell Faafu atoll to the Saudi royal family, revealing that negotiations are ongoing for an unprecedented US$10 billion project.
“What’s being talked about the most today is, what will be the benefit to the Maldives from King Salman’s visit, is Faafu atoll being sold. No, no place is being sold,” Yameen said, addressing concerns over the deal for the first time at a ceremony held Wednesday to welcome more than 1,000 new members to the ruling party.
“What is about to happen is not at all something that would be unacceptable to us. What is about to happen to Faafu atoll – if its result is positive – is something that would feature the Maldives on the world chart more boldly than anything else,” he said.
The Faafu project would be similar to “mixed development projects in French Riviera” – the Mediterranean coastline of France that includes the microstate of Monaco – and would involve “international sea sports, mixed development, residential high-class development, many tourist resorts, many airports” and other industries.
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