Inhabitants of Maldives Atoll Fear a Flood of Saudi Money
But Mr. Ahmed and others here are bracing for a life change they fear could be catastrophic, after the Maldivian president’s announcement in January
that leaders of Saudi Arabia were planning a $10 billion investment in the group of islands where Mr. Ahmed lives, known as Faafu Atoll.
By HASSAN MOOSA and GEETA ANANDMARCH 26, 2017
MAGOODHOO, Maldives — As long as anyone can remember, life on the island of Magoodhoo in the Maldives has revolved around fishing in the crystal clear waters
that wash the coral reefs, and kicking back under palm trees on deck chairs made from coir rope.
Maldivian said that It would be hard beyond our imaginations.
More than a third of the Maldives population of nearly 350,000 is crowded onto the capital island, Malé, on just 2.2 square miles of land
that is a two-and-a-half-hour speedboat ride northeast of Faafu Atoll.
The Saudi interest in Faafu Atoll began with a 2014 visit by King Salman, then the crown prince,
and his son Mohammed bin Salman, now the deputy crown prince.
Many residents fear they may be moved to apartments the government is building on an artificial
island near Malé, financed in part by an $80 million loan from the Saudi Fund for Development.