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Eagle Hills signs major deal for Maldives Waterfront and Marina project
Abu Dhabi-based developer Eagle Hills has signed a commercial terms agreement with the Maldives government to develop the Maldives Waterfront and Marina in the Ras Malé area. The project, described as one of the most ambitious in the country’s history, is envisioned as an integrated destination featuring international hotels, luxury residences, a world-class marina, retail, and community facilities.
While reported investment estimates vary between USD 12 billion and USD 20 billion, the project is expected to attract significant foreign investment over its lifetime. Maldivian Finance Minister Hassan Zareer stated the project is structured to alleviate the nation’s US dollar shortage by ensuring revenue from leasehold property sales is deposited into local escrow accounts.
The development is projected to create between 40,000 and 54,000 direct and indirect jobs. Once fully operational, the destination is expected to attract over one million annual visitors and generate more than USD 2 billion in yearly tourism revenue. Additionally, the plan includes the construction of approximately 5,000 social housing units for local Maldivian families. Construction is anticipated to commence in the first quarter of 2027.
Entities
Abdulla Muththalib · Dr. Abdulla Muththalib · Eagle Hills · Hassan Zareer · Maldives · Maldives Government · Mohamed Alabbar · Ras Malé
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] The development will include international hotels, premium residences, a marina, and community facilities in the Ras Malé area. economymiddleeast.com · hoteliermaldives.com · trendsmena.com
- [● 3 SOURCES] The destination is projected to attract over one million visitors annually and generate more than USD 2 billion in annual tourism revenue. standard.mv · hoteliermaldives.com · propmodo.com
- [○ 1 SOURCE] Construction is expected to begin during the first quarter of 2027. b2b-sy.com
- [● 2 SOURCES] The project includes the construction of approximately 5,000 social housing units for Maldivian families. b2b-sy.com · propmodo.com
- [● 9 SOURCES] Eagle Hills signed a commercial terms agreement with the Maldives government for the Maldives Waterfront and Marina project. b2b-sy.com · corporatemaldives.com · economymiddleeast.com · see.mv · standard.mv · +4 more
- [● 2 SOURCES] The project is designed to ease the Maldives' US dollar shortage by depositing leasehold revenue into a local escrow account. corporatemaldives.com · see.mv
- [● 3 SOURCES] The project is expected to create between 40,000 and 54,000 direct and indirect jobs. standard.mv · propmodo.com · arabic.euronews.com
- [● 9 SOURCES] The project's total development scale is estimated between USD 12 billion and USD 20 billion. b2b-sy.com · corporatemaldives.com · economymiddleeast.com · see.mv · standard.mv · +4 more