Sustainable Township development agreement signed

An agreement has been signed with Crystal Holdings, the company the government has issued a permit to for the first time regarding the development of a "sustainable township", which is set to include luxury tourism resources and other economic works.

The signing ceremony was held at Barceló Nasandhura. The project is set to have luxury hospitality components to serve tourists, along with resources for the economic and social sectors being established as well.

As per the Ministry of Economic Development and Trade, this includes quality healthcare, a hospitality training centre, modernized agriculture and systems to work on culture. Agriculture and aquaculture works will be done there aimed at Maldives' food security.

During the signing ceremony with Crystal Holdings, Minister of Economic Development and Trade Mohamed Saeed said that the township will be developed at Noonu Atoll, with the land for the project having been reclaimed as well.

"The land for the sustainable township has already been reclaimed," said Saeed.

As per the minister, the government has requested that since a medical facility that provides quality services is to be included, Crystal Holdings is to develop the township in such a way that offers "quality that no one else can offer." 

Even though the amendment brought to the Special Economic Zone (SEZ) Act states that the company that develops such a township is to develop a high quality medical facility or a center for hospitality training, Saeed stated that Crystal Holdings will develop both resources.

"Instead of choosing one, they chose to do both," said Saeed.

Saeed said that while agriculture work will be done at the township, Maldives will prioritize two imported food categories that are currently being brought in. He also stated that these details will be shared quite soon.

As per Saeed, 60 percent of the energy that will be used in the township will be sustainable energy as part of the work to reduce the carbon footprint of Maldives.

As per the amendment brought to the SEZ Act, a sustainable township is the establishment of a large scale real estate development or the establishment of a habitable place that has integrated tourism development, that is built with minimal damage to the environment, and sustainable infrastructure and resources that will allow people to inhabit it, as is described within the law concerning its characteristics and resources.