HULHULE-MALE’ BRIDGE PROJECT

EIA for the proposed Hulhule-Male’ Bridge Project
246.4 million, resulting in increase in gross international reserves to USD 614.7 million in 2014.
The usable reserves grew by 38% (USD 40 million) compared with 2013. (MMA 2014)
The fiscal deficit stood at 3.4% of GDP equivalent to MVR1.6 billion in 2014. Owing to
accumulation of deficit over the past years, total public and publicly guaranteed debt reached
65% of GDP at the end of 2014, with domestic debt accounting for 65% of total public and
publicly guaranteed debt and external debt stood at 35% (MMA 2014). The budget deficit was
mainly met through domestic sources, by issuing Treasury bills (T-bills) to domestic market and
partly from foreign sources and Maldives Monetary Authority (MMA).
4.9.5 Land use
The increase in the population of Male’ within the past decade have not been met with adequate
housing development projects. As a result, there is a high demand for housing in Male’ and the
rent of housing in Male’ steadily increases annually.
During the most recent call to submit application forms for social housing a total of 15,650
people living in Male’ applied for housing units. This is a true reflection of the growing demand
for housing opportunities in Male’. Figure below shows the number of living quarters in Male’
between 1985-2006.
Figure 4.59: Number of Living quarters in Male’ from 1985 to 2014
16,000
14,000
14,107
Number of Living quarters
12,000
10,000
8,000
6,000
4,000
5,278
7,298
6,727
2,000
0
1985 1995 2000 2006
Year
Source: Ministry of Planning and National Development 2008
Currently, Maldives government has a number of ongoing housing projects in Male’ island as
well as in Hulhumale’, Villimale’ and Gulheefalhu. Gulheefalhu is another artificial island in the
region, created using reclaiming an existing lagoon.
Prepared by: CDE Consulting & China Shipping Environment Technology
Page|126