Hulhumalé (; Dhivehi: ހުޅުމާލެ) is a reclaimed island located in the south of North Malé Atoll, Maldives. The artificial island is being built up by pumping sand from the sea floor, in order to meet the existing and future housing, industrial and commercial development demands of the Malé region and as a response to the threat posed by rising sea levels. The official settlement was inaugurated by President Maumoon Abdul Gayoom on May 12, 2004. The development and management of the island is undertaken by a government-owned corporation called Housing Development Corporation (formerly Hulhumalé Development Unit/Hulhumalé Development Corporation) which was incorporated on March 23, 2005. Land reclamation has increased the island's area to , making it the fourth largest island in the Maldives. the island has a population of more than 50,000; it is planned to house as many as 240,000 by the mid-2020s. Location within Malé City Hulhumalé is located northeast of the airport island of Hulhulé, to which it is connected by a causeway: Hulhumalé is also represented at the local level by one councilor in the Malé city council. History Reclamation of Hulhumalé began on October 16, 1997, on the Hulhulé-Farukolhufushi lagoon off the northwest coast of Malé. Initial reclamation (or Phase I), consisting of 45% of land mass, , was carried out by the Ministry of Construction and Public Works (MCPW) at a cost of USD 11 million. The project was then continued by a Belgian Joint Venture Company, International Port Engineering and Management (IPEM) and Dredging International (DI) costing an estimated USD 21 million. All the works involving reclamation and coastal structure development covered in Phase I were completed by June 2002, and 1,000 residents moved to the island in 2004. In the next phase of reclamation, completed in 2015, were added; and, by the end of 2019, there were more than 50,000 residents. Development A basis of development known as Phase I was formed under the first Master Plan which was completed in July 2001 by a consortium of consultants from Singapore with the contribution of many government agencies, committees and individuals. It conceptually defines the long-term land use and development strategy (including urban design proposals, transportation plans and utility infrastructure) with considerations for future infrastructure connections to the adjacent Phase II and planned airport extension areas. The Master Plan is to be periodically reviewed and adjusted to include advances in development. Phase I