At a ceremony held in Male on Thursday, Dutch Docklands Maldives acquired the last necessary signatures in order to start the floating city.
A million dollar alternating payment fee, as required by law, has been completed to run the project under the Integrated Tourism model.
This follows advice from the Government’s Economic Council that the Maldives Floating City should proceed under an Integrated Tourism model.
Dutch Dockland Maldives is a Public Private Partnership with the Government of Maldives. CEO, Paul Van de Camp, signed the agreement on Thursday alongside the Ministry of Tourism’s permanent secretary. The signing was witnessed by member of Government, Tourism Minister Dr. Abdulla Mausoom.
Commenting at the ceremony, Mr. Van de Camp expressed his delight that the construction of the Maldives Floating City can begin apace.
A first block of floating homes is under construction by BISON and is due to be transported to the Lagoon and opened in August after the school holidays. This will enable the public to visit and see first hand how the homes will look like.
The marine engineering, technical details and specifications for the Maldives Floating City development have been completed, and construction will begin immediately after remaining government approvals have been granted. The modular city construction is accordingly scheduled for January 2023 and will take 4 to 5 years to complete.
Maldives Floating City is an innovative housing project being developed in a lagoon 15 minutes boat ride from Male’. Using the latest in floating technology from the Netherlands, the floating city will comprise of 5,000 housing units, tethered to the lagoon floor and linked together to create a safe and comfortable environment.