90% of Thilafushi land reserved for Maldivians: HDC

Housing Development Corporation (HDC) announced on Wednesday that 90% of the newly acquired land from Thilafushi will be allocated to Maldivian companies.

HDC on Tuesday night released the details of the sale of 50 plots of land in Thilafushi for industrial purposes.

According to the information sheet in the announcement, under the first phase of allotment of land from Thilafushi for industrial purposes:

Some opposition lawmakers raised concerns over the sale of land from Thilafushi during the Wednesday parliamentary session. The main concern is that while foreigners and companies are open to buying land from the site, the land has been allotted a much lower price.

HDC said in a statement this afternoon that foreign companies can apply only for a small portion of the land allotted from Thilafushi.

"It is pertinent to mention here that 90% of the newly acquired land from Thilafushi has been earmarked for local businesses as part of rent-controlled policies," the statement said.

Pointing out that Thilafushi is not a special economic zone, the HDC said foreign businesses will have to follow local laws and relevant procedures while applying for land.

"In view of this, we assure you that these businesses will not have any impact on businesses such as fisheries, agriculture, etc., which are dedicated to local businesses," HDC said in the statement.

"And in the same way, it's a project that will provide a lot of employment opportunities to Maldivians."

According to HDC: