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.
We don't have the details of the court battle between GPD and the government but we are aware that it is happening as the company initially contacted us to seek compensation. We forwarded it to the relevant government authorities. I believe it needs to be settled to develop Gulhifalhu is efficiently.Managing Director of Greater Male' Industrial Zone Ltd (GMIZL), Ibrahim Rasheed Aboobakuru (Ibu)
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.
