Maldives secures $12bn waterfront deal and $580m Indian credit line

The Maldives has entered into a commercial terms agreement with UAE-based developer Eagle Hills for the development of the Maldives Waterfront and Marina in the Ras Malé area. The project is envisioned as a large-scale integrated destination featuring international hospitality, premium residences, a marina, retail, healthcare, and community facilities, with an estimated total development scale of approximately US $12 billion across various phases.

Complementing this private investment, the Government of India has operationalized a sovereign credit facility to support the foundational infrastructure required for the region. This Line of Credit (LOC), worth approximately $580 million (₹4,850 crore), was issued through the Export-Import Bank of India. The flexible funding is intended to support large-scale civil engineering and essential utilities, such as power grids, water desalination, and waste management, necessary to make the Ras Malé urban project viable.