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Eagle Hills Maldives Waterfront and Marina development

Updated 2 times since CLSTR started tracking revisions of this situation.

What changed

2026-09-24 16:22 UTC → 2026-09-26 05:01 UTC · added removed

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. The development is expected to create up to 54,000 jobs, provide 5,000 social housing units, and generate over USD 2 billion in annual tourism revenue. Construction is slated to begin in the first quarter of 2027. To support the foundational infrastructure required for the region, 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. Minister Zareer has emphasized that the involvement of a developer with a global reputation serves as a “sign of confidence in the Maldives,” which Physical work is expected to improve the country’s credit rating and assist the private sector begin in securing foreign financing. early 2027.

Versions

  1. 2026-09-26 05:01 UTC Eagle Hills Maldives Waterfront and Marina development
  2. 2026-09-24 16:22 UTC Eagle Hills Maldives Waterfront and Marina development
  3. 2026-09-23 09:23 UTC Eagle Hills Maldives Waterfront and Marina development

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