Gulhifalhu development halted until agreement with GPD is nullified
He claimed that the current administration consulted with a law firm from Singapore and was recommended to continue with the agreement but it was nullified upon the request of the previous administrat
Residential flats in Gulhifalhu as part of Gulhifalhu Development Project
The Managing Director of Greater Male' Industrial Zone Ltd (GMIZL), Ibrahim Rasheed Aboobakuru (Ibu), has stated that the biggest challenge to the administration in the development of Gulhifalhu has been the process of nullifying the agreement made with Global Project Development ltd (GPD) by the previous administration.
While speaking on RaajjeTV's "Fala Suruhee" programme, Ibu stated that work on the residential flats constructed in Gulhifalhu has been halted since nullifying the agreement with GPD. He claimed that the current administration consulted with a law firm from Singapore and was recommended to continue with the agreement but it was nullified upon the request of the previous administration.
According to Ibu, nullifying the agreement with GPD has been a great challenge to the development of Gulhifalhu. He stated that GDP is seeking compensation for up to USD200-USD300 million.
Ibu further stated that the at the end of the project, Gulhifalhu will be connected to Thilafushi island.
The Gulhifalhu project first begain in 2010 with the project contracted to GPD to reclaim the land and develop the island up to habitable standards.
Nevertheless, Former president Yaameen's administration voided the agreement on February 6th, 2016.
