# Eagle Hills Maldives Waterfront and Marina development

> Live situation record from CLSTR: https://clstr.news/situations/eagle-hills-maldives-waterfront-and-marina-development
> Updated: 2026-09-23T07:04:19.000Z. Sources: 17. Developments: 3.

Abu Dhabi-based developer Eagle Hills has entered into a commercial terms agreement with the Maldives government to develop the Maldives Waterfront and Marina in the Ras Malé area. The project is envisioned as an integrated destination including luxury residences, international hotels, a marina, and retail facilities. Investment estimates for the development range between USD 12 billion and USD 20 billion.

President Dr. Mohamed Muizzu has defended the project, stating there will be “no obstacles” to the development. He noted that the project is expected to boost the Maldives' GDP and create numerous employment opportunities, criticizing those who attempt to hinder the initiative as “lacking national vision.” Under the agreement, the government will not provide sovereign guarantees, tax concessions, or import duty concessions; instead, land will be leased to foreign investors.

The development is expected to create up to 54,000 jobs and includes the construction of 5,000 social housing units at a cost of $500 million by Eagle Hills. Finance Minister Hassan Zareer previously stated the project is designed to address the nation’s US dollar shortage by requiring revenue from leasehold property sales to be deposited into local escrow accounts.

To support foundational infrastructure, the Government of India has operationalized a sovereign credit facility worth approximately $580 million (₹4,850 crore) through the Export-Import Bank of India. This Line of Credit is intended to fund essential utilities and civil engineering, such as power grids, water desalination, and waste management, to ensure the viability of the Ras Malé urban project. Physical work is expected to begin in early 2027.

## Timeline

### 2026-09-23: Maldives secures $12bn waterfront deal and $580m Indian credit line

The Maldives and Eagle Hills have agreed to a $12 billion waterfront development in Ras Malé, supported by a $580 million Indian credit line for essential infrastructure.

3 sources. https://clstr.news/cluster/maldives-secures-12bn-waterfront-deal-and-580m-indian-credit-line

### 2026-09-23: Maldives sees new e-commerce payment options and major investment news

The Maldives introduces Rufiyaa payments via ‘Global Dukaan’ for Indian e-commerce and anticipates economic boosts from a $20 billion Eagle Hills investment project.

3 sources. https://clstr.news/cluster/maldives-sees-new-e-commerce-payment-options-and-major-investment-news

### 2026-09-21: Eagle Hills signs major deal for Maldives Waterfront and Marina project

Eagle Hills and the Maldives government have signed an agreement for the USD 12-20 billion Maldives Waterfront and Marina project in Ras Malé, aimed at boosting tourism and easing the nation's dollar shortage.

12 sources. https://clstr.news/cluster/eagle-hills-signs-usd-20-billion-waterfront-deal-for-maldives

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Cite as: Eagle Hills Maldives Waterfront and Marina development. CLSTR, https://clstr.news/situations/eagle-hills-maldives-waterfront-and-marina-development