Ras Malé reclamation to cost US$330m, minister says

Dr Abdulla Muththalib, Minister of Infrastructure, Housing and Urban Development, said on 9 November 2026 that reclaiming all of Ras Malé will cost the state about US$330 million. He was answering a question from the public at the 11th "Ahaa" public forum, run by the President's Office with Public Service Media.

What the minister said

• About US$330 million for the whole 1,009 hectares
• About US$160 million for 500 hectares
• The earlier estimate was US$500–700 million

How the cost came down

The minister said the earlier figure, given at a previous press conference, was based on costs of past reclamation projects, market rates at the time and shore protection. He said the cost fell because dredgers were chartered and the government and state companies worked to keep spending low.

He added that a large share of the US$330 million was paid in rufiyaa, to limit pressure on the dollar supply. The work was not handed to companies for reclamation alone, he said.

Timeline and other estimates

The government aims to finish reclaiming all 1,009 hectares by the end of this year, the minister said, adding that the target may not be met. He said claims that US$700 million or US$1 billion had been spent were made for political purposes, to create fear among citizens.

About the forum

The 'Ahaa' forum was introduced in 2024 as a regular channel for public questions to ministers. The panel on 9 November also included Foreign Minister Iruthisham Adam and Education Minister Dr Ismail Shafeeu, according to the President's Office.