Abu Dhabi-based private real estate investment and development company Eagle Hills has signed a landmark commercial terms agreement with the Government of the Maldives to develop the “Maldives Waterfront and Marina” project in Ras Malé.
Valued at an estimated $20 billion, the mega-development represents one of the largest foreign investment programs in the island nation’s history, aimed at transforming its urban and tourism landscape.
The ambitious integrated island destination is envisioned to feature luxury international hospitality brands, premium and branded residences, a world-class marina, and extensive waterfront promenades.
In addition to tourism and leisure components, the master plan incorporates comprehensive community infrastructure, including retail outlets, dining venues, entertainment options, wellness centers, as well as education and healthcare facilities.
Led by Eagle Hills Chairman Mohamed Alabbar, the project is designed to expand the Maldives’ economic horizons by creating a structured real estate ecosystem alongside its traditional tourism sector.
Preliminary estimates indicate that the mega-development will attract over one million visitors annually, generate more than $2 billion in yearly tourism revenue, and create over 54,000 jobs throughout its phased execution.
Furthermore, the initiative is projected to draw over $30 billion in gross foreign investment over its lifetime, reinforcing the Maldives’ path toward long-term economic diversification and sustainable urban growth.
