The government government has signed an agreement with Crystal Holdings for the Ayla Sustainable Township Project. Minister of Economic Development Mohamed Saeed signed on behalf of the government, while CEO Perat Kristic signed on behalf of the company.
Minister Saeed stated that this project will play a crucial role in taking the Maldivian economy to a new level. He highlighted that it would create employment opportunities, protect the environment, and boost the economy by utilizing 60% renewable energy. The CEO of Crystal Holdings acknowledged the Maldives as a favorable environment for investors and expressed gratitude for the government’s cooperation.
The township development in Noonu Atoll will involve an investment of 790 million dollars (12.2 billion rufiyaa). The project is scheduled to be completed by 2028.
