Maldives Waterfront Plans Unveiled
by: BTM - Mon, 21 Sep 2026
The Government of the Maldives and Eagle Hills have agreed commercial terms for Maldives Waterfront and Marina, a proposed integrated island development in the Ras Male area.
The agreement outlines the shared vision and principal commercial terms for the project, with detailed provisions to be developed as plans progress. Across its proposed phases, the development is expected to have an overall value of about USD 12 billion.
Mohamed Alabbar, Chairman of Eagle Hills, says: "The Maldives is a truly special place, with unmatched beauty and global appeal. Our ambition is to build responsibly on that strength and create something truly world-class."
Plans for the destination include international hotels, resorts, premium and branded residences, a marina, waterfront promenades, leisure facilities, retail, dining, entertainment, wellness, education, healthcare and community amenities.
His Excellency Dr. Abdulla Muththalib, Minister of Infrastructure, Housing and Urban Development in the Maldives, says: "In Eagle Hills and its Chairman, Mr. Mohamed Alabbar, the Maldives has a partner whose record speaks for itself. From the making of Downtown Dubai to Belgrade Waterfront and destinations across three continents, few names in global real estate carry the same authority in building city-scale destinations from the ground up. That is the calibre of partnership we have secured for Ras Male."
The project is intended to complement the Maldives' established resort sector with waterfront living, hospitality and marina experiences. Hotels, residences and commercial facilities would be supported by education, healthcare, community infrastructure and public spaces, creating an environment combining tourism, residential life and year-round economic activity.
Properties within the destination are expected to be offered through a long-term leasehold framework under Maldivian law, with terms of up to 99 years. Upon each transfer, whether through sale or inheritance, a new leasehold term of up to 99 years would begin.
The development is also expected to broaden the country's tourism offering and attract additional international visitor segments, as well as encourage longer stays, repeat visits and investment.
Environmental considerations are expected to form part of the project from planning through delivery. The masterplan will address the Maldives' relationship with the ocean and its sensitive island environment by incorporating sustainability measures, resilient infrastructure and protection of the natural setting. The project will be developed on reclaimed land, with Eagle Hills stating that it will undertake no further dredging. Independent marine monitoring is also planned during construction.
Dr. Muththalib says: "For the Maldives, this is the largest investment programme in our history, with billions of dollars of foreign investment moving through our banking system, creating jobs, homes for Maldivian families and direct revenue to the State from every sale, achieved without tax giveaways and without government borrowing."
Maldives Waterfront and Marina is projected to provide a new channel for sustained foreign investment. The wider activity generated by the development is expected to contribute tax revenue and support growth across hospitality, construction, retail, marine services, technology and related sectors.
Over its lifetime, the project is also expected to create direct and indirect employment, open new career paths for Maldivians and generate demand for local businesses, suppliers and professional services. Its stated aim is to turn international investment into lasting economic value while adding a large-scale waterfront and marina district to the country's tourism and residential offering.
Dr. Muththalib adds: "Most importantly, this project establishes a structured real estate sector for the Maldives, a new pillar of our economy standing alongside tourism. It is a decisive step on our path to becoming a high-income country by 2040."
Tags #maldives development project #maldives property investment #maldives tourism investment #maldives marina development #ras male development #eagle hills maldives #maldives real estate #maldives waterfront project #maldives waterfront and marina
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