Eagle Hills signs $12 billion Maldives waterfront deal
Abu Dhabi-based developer Eagle Hills has signed a commercial terms agreement with the Maldives government for a new project called the ‘Maldives Waterfront and Marina’. This will be an integrated island destination in the Ras Malé area. The overall development is expected to be worth about $12 billion over its various phases, a press release said. The destination will combine hotels, premium and…
Abu Dhabi-based developer Eagle Hills has entered into a commercial agreement with the Maldives government for a $12 billion waterfront development project dubbed 'Maldives Waterfront and Marina'. Set to be built on reclaimed land in the Ras Malé area, the project will incorporate hotels, luxury residences, a marina, retail outlets, dining options, educational and healthcare facilities.
Properties will be available under a leasehold arrangement with terms extending up to 99 years. The agreement outlines the primary commercial terms, with specifics to be negotiated throughout the project's development. The Maldives largest investment project will be constructed without additional dredging, and independent marine monitoring will accompany the construction process.
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