The short answer is sort of yes. The atoll in question is Faafu which is a sparsely populated atoll with lots of beautiful islands. Total population of Faafu atoll is around 5000 will in all likelihood will be resettled in Hulhumale under the proposed deal. The deal is rumored to be worth 10 billion and the atoll will be reclaimed and enlarged to build a mega tourist city. The rationale for the business idea around the project involves Saudi’s desire to diversify economic interests to counter whatever may appear after demand for fossil fuel becomes low.
In all likelihood the deal is likely to proceed with current government having super majority in parliament, significant control in judiciary, curbs on media and doing their 100% to stay credible after huge corruption scandal which landed the vice president Adheeb in jail.In president Yameen’s estimate this deal if sealed will produce same amount of revenue for the country as that of the whole tourism sector.
Full details are available from the link below:
Source URL: Maldives Resort Workers