Fayyaz criticises cancellation of Hankede tourism project
The project, initiated under the previous MDP government, was backed by a USD 142 million (MVR 2.2 billion) loan from a Chinese bank.
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Former Economic Minister and MDP Chairman Fayyaz Ismail on Monday expressed regret over the government’s decision to stop the integrated tourism project in Hankede, Addu.
The project, initiated under the previous MDP government, was backed by a USD 142 million (MVR 2.2 billion) loan from a Chinese bank. However, the current administration has shifted plans to promote halal tourism in the area.
In a post on X, Fayyaz said cancelling the project created a setback for economic development in Addu. He argued that the government lost both time and investment by halting an ongoing project.
Fayyaz, who has previously spoken against the decision, suggested that halal tourism could have been pursued on other islands in Addu such as Gaukendi or Savaheya without stopping Hankede’s development.
Background of the Hankede Project
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The project was initiated with a USD 142 million loan from a Chinese bank.
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Development was awarded to China National Electrical Engineering Company (CNEEC).
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The contractor was given two years to complete the project.
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Later, the development of Hankede was reassigned to UAE-based Time Hotels, although details of this agreement remain unclear.
