Maldives government grants five lagoons to develop floating properties

Saturday, 29 January 2011 11:07

The Maldivian government, through a joint venture with the Netherland’s Dutch Docklands, has signed an agreement to grant five lagoons from Kaafu atoll to the company in order to bring in investments worth US$500 million to the Maldives.

The project is being carried out under the Memorandum of Understanding (MoU) signed between the Maldives government and Dutch Docklands in April 2010 to develop, operate and manage water properties, including a convention centre and golf courses in the Maldives.

Dutch Docklands CEO Paul H.T.M. van de Camp told Haveeru the joint venture company ‘Dutch Docklands Maldives’, formed with five percent share from the Maldives government, will carry out five investments in Kaafu atoll.

At a ceremony held at the tourism ministry Thursday afternoon, the government and the joint venture company signed the agreement to grant the five lagoons for 50 years. The government will charge land fee under the Tourism Act.

Dutch Docklands will start the project this year and aims to complete it by 2015.

The company plans to build floating water properties including a complex, which consists of a convention centre and a hotel, an 18-hole golf course, a 250-room resort and another 43 private villas.

“We will start developing the resort within this year. We have already invested a lot in this project. The project will be completed by 2015,” Paul said.

Asked why the company chose Maldives, Paul said Dubai also expressed interest in developing floating properties. However, the Maldives is the suitable location considering the situation and time, he added.

The company also revealed plans to develop new technologies in order to carry out the project by using renewable energy.

Paul stressed that the Netherlands government also gives a high priority to the project and is in talks with the Maldives government to build a floating city in the Maldives.

“Several parties are interested in this project. BBC has also offered to give coverage of the project from the beginning to the end. Netherlands government will also assist in this project,” he said.

Dutch Docklands is a global leader in tailor made floating developments including floating car parks, floating beaches, and cruise terminals.


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