2 Plots Of Land, 1 Island For Resort Development To Be Granted To Indian Conglomerate By Renewed Agreement

The Solih administration has decided to renew an agreement signed between the Tata Group, a multinational conglomerate headquartered in India, and the Nasheed administration of 2008-2012 which granted the corporation two important plots of land in Male City.

280 flats were built at Gaakoshi and the plot that used to belong to Arabiyya School as social housing. In exchange for the scheme, the Nasheed administration had granted the Tata Group the lands that belonged to Odeon and the former Government Employee's Club. Lhossafushi (Lhaviyani Atoll) had also been given to be used as a resort.

However, as the Tata Group had been unable to make any use of the plots well after the duration of the agreement, the Yameen administration retook ownership over the plots and the island.

Akram Kamaluddin, the State Minister of the Planning Ministry, blamed the Yameen administration for the current government's obligations to compensate "several parties". Kamaluddin also mentioned that an agreement would be signed with the Tata Group which grants them two plots of land and an island to be used as a resort.

The agreement signed between the Nasheed administration and the Tata Group requires that any dispute that arises should be taken to arbitration centre in Mumbai, where the Tata Group has its headquarters.

Although Kamaluddin had blamed the former government for the Solih administration's compensations; it is worth noting that most recipients of government compensations had either been MDP loyalists, or companies that were linked to individuals who had held high positions in the short-lived Nasheed administration.