Abu Dhabi's Eagle Hills signs $20bn Maldives waterfront and marina deal
Abu Dhabi-based developer Eagle Hills has signed an agreement with the Maldives government to develop a $20 billion waterfront and marina project in one of the largest proposed foreign investment developments in the Indian Ocean nation. The Maldives Waterfront and Marina will be developed in Ras Male, an urban area being created at Fushi Dhiggaru Lagoon near the capital Male, about 17 minutes…
Abu Dhabi-based developer Eagle Hills has entered into a historic $20 billion agreement with the Maldives government to create an expansive waterfront and marina project in Ras Male. Located near the capital Male, this ambitious development is set to transform the urban area of Fushi Dhiggaru Lagoon. Eagle Hills Chairman Mohamed Alabbar and senior Maldivian government representatives signed the agreement in Dubai on Monday.
The project, which will span multiple phases, will feature international hotels, luxury residences, a world-class marina, and a variety of commercial and leisure amenities. With an overall investment of approximately $20 billion, the development could attract over $30 billion in foreign investment throughout its lifetime, creating more than 54,000 jobs.
When fully realized, the project is expected to draw over one million tourists annually, generating more than $2 billion in tourism revenue. Eagle Hills, founded by Alabbar, already has a strong portfolio of waterfront projects globally, including a major redevelopment in Abu Dhabi and a $2.5-billion initiative in Albania.
Written by urgent.news from The National UAE's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- Abu Dhabi's Eagle Hills signs $20bn Maldives waterfront and marina deal thenationalnews.com
