Maldives dismisses claims Saudi Arabia buying atoll

RIYADH: The Maldives Embassy in Riyadh has dismissed as unfounded widely circulated allegations that the Kingdom is buying an island or atoll in the South Asian country.
The Saudi Embassy in the Maldives also issued a press release dismissing the allegations, saying the Kingdom has no intention of investing in or buying an island or atoll in the Maldives, the Saudi Press Agency (SPA) reported Friday.
The Maldives Embassy said: “No atolls are being sold, and the administration reasserts its point ... that any development of Faafu Atoll is part of a wider, multifaceted program to finance a major, multibillion dollar investment project encompassing mixed development.”
The embassy added that the administration “categorically rebuts allegations that the atoll has been ‘sold off’ to a foreign entity.”