Male' City Mayor Adam Azim stated on Monday that the council is attempting to annul the contract for the redevelopment of the Male' fish (wet) market, cautioning that failing to pay USD 9.5 million to the contractor might result in the council losing the market site for 25 years.

During a press conference to unveil the audit report on the project, Azim stated that the agreement, signed just before he took office, presents "significant financial risks" to the council.

The initial contract for the project was set at USD 6.1 million, but was subsequently updated to USD 9.6 million. Azim mentioned that the cost was changed several times without adequate explanation.

“If the contractor does not receive the USD 9.5 million specified in the contract, the project will belong to the contractor for 25 years.” “This implies that we will forfeit the fish market location, the community market will vanish, and no action will be taken for 25 years,” Azim stated.

He stated that the issue has now been forwarded to the Anti-Corruption Commission (ACC) and the Auditor General's Office for examination.

The redevelopment of the fish market began under the administration of Mohamed Muizzu. The council announced bids, assessed proposals, and assigned the project for USD 6.1 million. Nonetheless, prior to the mayoral position becoming available on November 17, 2023, and before Azim assumed office, the agreement was terminated, and a new contract was established with another company.

The updated agreement was endorsed for the council by Ali Naseer Gasim, leader of the council's legal department. Azim informed a council meeting on August 20 that Naseer had failed to clarify the need for a new agreement or the reason behind the project's cost rising by USD 3.5 million.

Multiple council meetings were subsequently called off because of insufficient quorum, as the PNC-majority council was unable to advance with agenda items concerning the issue.