Male' City Council has signed a Memorandum of Understanding (MoU) with Dutch Docklands of the Netherlands to become a partner in the Floating City project.
The purpose of signing the MoU with Dutch Docklands of the Netherlands, which is developing the floating city, is to find a solution to the housing issues faced by the people of Male', said the City Council.
City Council said that the they participated as a partner in the Floating City after 14 councilors who attended the 46th official general meeting of the council granted permission to participate in the project.
A statement by Mayor Dr. Mohamed Muizzu on the City Council's website, said that the current council will welcome a solution to the housing issues faced by the people of Male' City. The Mayor said that the MoU also states that the council's main responsibility is to provide affordable housing opportunities for residents of Male'.
"Maldives Floating Island" is being developed on a lagoon north of Male' City. The Floating City houses in will be in different colors and can be reached within five minutes from Male' City. A terrace will be built on top of the two-storey structures.
Schools, hospitals, malls, councils and government offices will also be established in the floating city. The city will have middle range to high-end homes. The houses are valued at MVR 2 million. The houses of the Floating City can be purchased through installment policy and loans under the mortgage policy. Two resorts will be developed around the city, including a yacht marina and restaurants of world renowned brands.
