Male, Maldives - If you have ever dreamed of owning a slice of the Maldives, your fantasy can now become a reality – but only if you’ve got £640-million to spare.
Politicians in the Indian Ocean islands passed laws that allow foreigners to own land there. But investors must spend at least $1-billion to own land on one of the 1 200 islands.
They must also reclaim 70 percent of the land from the Indian Ocean – essentially creating new islands by dumping concrete, rocks or sand into the ocean.
Previously, the constitution had banned foreign ownership of any part of the islands, which are popular with Western tourists.
But the conditions of the new law, passed with 70 assembly members in favour and 14 opposed, have sparked fears that the Chinese will use it to set up military bases in the Maldives.
The Chinese are experts in land reclamation and have the financial backing, but India considers itself the regional superpower. Eva Abdulla, an opposition MP, said she feared the Maldives could become a front line for a power struggle between India and China.
Daily Mail